The ORX Operational Risk Podcast

The operational risk horizon, ORX News top 5 operational risk losses and focus on cyber warfare

Join the ORX research team as they look at the findings from the latest ORX Operational Risk Horizon Study, which explores emerging risks.

The ORX News team then take a look at the five largest operational risk losses of March 2022 and do a short focus section on cyber warfare.

This episode features Esther Renfrew, Simon Johnson, Emilie Odin, Lily Richardson, Fern Ashcroft and Natasha Craig. 

You can find the top 5 operational risk losses discussed in this episode on the ORX website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q1-2022.

The Operational Risk Horizon 2022 report is available to all ORX members here: https://members.orx.org/orx-publications/operational-risk-horizon-2022.

To find out more about ORX News, ORX Membership and access other operational risk resources just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

Operational resilience, ORX News top 5 operational risk losses and focus on sanctions

Join the ORX research team as they look at how financial organisations are overcoming some of the practical hurdles associated with developing and implementing operational resilience frameworks. The discussion is based on a recent report which was produced in collaboration with our Operational Resilience Working Group.

The ORX News team then take a look at the five largest operational risk losses of February 2022 and, in light of the conflict in Ukraine, do a short focus section on sanctions.

This episode features Steve Bishop, Melanie Lavallin, Emilie Odin, Lily Richardson, Fern Ashcroft and Thomas Neale. 

 

You can find the top 5 operational risk losses discussed in this episode on the ORX website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q1-2022.

 

The operational resilience report is available to all ORX members here: https://members.orx.org/operational-resilience-working-group/operational-resilience-practical-development-implementation.

 

To find out more about ORX News, ORX Membership and access other operational risk resources just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

 

Cyber risk quantification, ORX News top 5 operational risk losses and deep dive into deepfakes

Join the team from ORX Cyber as they explore cyber risk quantification in financial services, following the publication of a recent report on this topic. The ORX News team then take a look at the five largest operational risk losses of January 2022 and do a deep dive into deepfake voice cloning.

This episode features Steve Bishop, Melanie Lavallin, Katherine Charalambous, Lily Richardson, Fern Ashcroft and Natasha Craig. 

You can find the top 5 operational risk losses discussed in this episode on the ORX website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q1-2022.

The Deep Dive mentioned is available to download for free here:

https://managingrisktogether.orx.org/orx-news/orx-news-deep-dive-colpipe-pay-44m-ransom

 

To find out more about ORX News, ORX Cyber and access other operational risk resources just search ‘ORX’ or visit: https://managingrisktogether.orx.org/

Five biggest operational risk losses of 2021 with ORX News

Do you know which operational risk loss events cost the most in 2021? Join Tom, Fern and Lily from the ORX News team for this special end-of-year episode as they countdown the five biggest operational risk losses of the year as reported by the ORX News service. You can find all the top 5s of 2021 (and previous years) on our website, where you can also find out more about ORX News.

And, keep an ear out for more from ORX News as part of the main ORX podcast next year!

Insights into material risks in 2021 from ORX Scenarios

Join the team from ORX Scenarios as they discuss this year’s Insights into Material Risks report. The team look at the trends and themes they’ve spotted in the annual upload and explore what factors are driving the top risks. Themes include conduct, digitilisation and resilience.

 

About the ORX Scenarios: Insights into Material Risks 2021 report

Find out which operational risks financial firms most commonly created operational risk scenarios for in 2021 in this free report from ORX Scenarios. Created using information shared by over 50 financial organisations, the ORX Scenarios: Insights into Material Risks 2021 report gives you a global picture of scenario practice in 2021.

 

Download the free report

Right Time, Right place: The drive for change in operational risk (part 2)

Operational and non-financial risk (ONFR) management has an opportunity to step up like never before and support financial organisations as they go through a period of rapid transformation.

To do so will mean making operational and non-financial risk resilient by using innovative technologies, which then enable risk leaders to innovate how they serve the business and actively add value. In this episode of the ORX Operational Risk Podcast, Simon Wills, Luke Carrivick and Mark Cooke explore how operational risk can do this in detail.

This second part of the discussion follows the publication of a recent report that explores the future of operational risk in light of rapid digitalisation and other changes in the financial services industry. This report sets out two elements of operational and non-financial risk management – “Optimise” and “Active” – explaining how optimisation will only go so far in terms of keeping pace with the rapidly changing risk profile.

 

Download the report for free: https://managingrisktogether.orx.org/operational-risk-studies/future-op-risk-right-time-right-place

Right Time, Right Place: The drive for change in operational risk (part 1)

Operational and non-financial risk (ONFR) management has an opportunity to step up like never before and support financial organisations as they go through a period of rapid transformation.

To do so will mean making operational and non-financial risk resilient by using innovative technologies, which then enable risk leaders to innovate how they serve the business and actively add value. In this episode, the first of two on this topic, Simon Wills, Luke Carrivick and Mark Cooke explore how operational risk can do this in detail.

This discussion follows the publication of a recent report that explores the future of operational risk in light of rapid digitalisation and other changes in the financial services industry. This report sets out two elements of operational and non-financial risk management – “Optimise” and “Active” – explaining how optimisation will only go so far in terms of keeping pace with the rapidly changing risk profile. This is part one of a two-part discussion.

Download the report for free: https://managingrisktogether.orx.org/operational-risk-studies/future-op-risk-right-time-right-place

Developments in Operational Resilience in the Financial Sector

In this episode of the ORX Operational Risk Podcast, Steve Bishop, Melanie Lavallin and Luke Carrivick discuss the work being done in financial services to develop and implement approaches to operational resilience. They look at the challenges faced by financial firms around the world.

This podcast follows the publication of a recent report which is available exclusively to our members – Progressing Operational Resilience. This report is partly based on the activities and discussions held with our Operational Resilience Working Group, which has been running since 2020.

Our members can access the new report at: https://members.orx.org/orx-publications/progressing-operational-resilience. And non-members can get more information and resources on operational resilience at https://managingrisktogether.orx.org/

The new ORX podcast is coming next week.

Released on July 8th, the podcast will focus on developing and implementing approaches to operational resilience and the findings of a recent ORX published review on the subject.

How operational risk scenarios are evolving for the future of risk management.

In this episode, Giuseppe Aloi, ORX Scenarios manager, is joined by Luke Carrivick and Steve Bishop from ORX to discuss how scenario analysis has evolved over the last decade and how it will continue to develop.

This conversation follows a series of discussions we held with operational risk experts, scenario experts and the heads of operational risk on the role of scenarios at their firms.

We wanted to understand both how scenarios are currently being used and how they can evolve to better support operational risk management in financial organisations. From these discussions, we created a white paper – Operational Risk Scenarios: From Risk Measurement to Risk Management and Beyond – which is available to download for free. 

This podcast builds on the white paper, with Giuseppe, Luke and Steve looking at how scenario analysis at financial institutions has moved from an initial focus on modelling and measurement to playing a key role during the pandemic and, finally, exploring how scenarios are evolving to support proactive operational risk management.