The ORX Operational Risk Podcast

By orxoperationalriskpodcastBusiness News Investing Business News Non-Profit

The ORX Operational Risk Podcast episodes

June 09ORX News: Q1 2026 risk landscape, major losses and emerging trends
In this episode, we explore the key themes shaping the operational risk landscape based on ORX News coverage in Q1 2026. Alongside the latest loss data and major events, we look at how industry priorities compare with realised losses, highlighting gaps between perception and experience in areas such as conduct, cyber and third-party risk. We also examine developments in external fraud, cyber incidents and regulatory change, including the UK motor finance redress scheme. Taken together, these insights help build a clearer picture of where risks are emerging and how firms are responding.
Related resources
ORX News Top 5s
Data Deep Dive: External Fraud
Deep Dive: Jaguar Land Rover cyberattack severely disrupts production
Global Public Loss Landscape Report 2025
Motor Finance Commission Disclosure Failures Analysis
17 min
May 12How firms are strengthening controls and moving towards real‑time monitoring and insights
In this episode, we explore how firms are rethinking and strengthening their approaches to controls. Drawing on findings from our recent research, we discuss the progress many firms have made in putting solid foundations in place, including standardising and rationalising control data, developing central control libraries and bringing greater clarity to control definitions and prioritisation. We also look ahead to what comes next, with a growing focus on real‑time monitoring, better use of data and stronger connections across risk and resilience, supported by automation and AI to drive better insight, decision‑making and resilience. This episode features Helen Labbate, Deputy Director – Research and Information, Emilie Odin, Senior Research Manager and Abi Jones, Assistant Research Manager.

Related resources
ORX Reference Control Library
Controls practices: Trends, insights and industry progress
Control library practice discussions
ORX Reference Control Library Refresh Initiative
11 min
March 10The risk horizon is emerging: Agility & resilience in 2026
In this episode of the ORX Operational Risk Podcast, Steve Bishop, Research and Information Director, is joined by Helen L’Abbate, Research and Information Deputy Director and Nikki Truss‑West, Research Senior Manager, to discuss findings from the 2026 Operational Risk Horizon and Cyber Horizon studies. The research explores why Horizon feels closer, how cyber threats are evolving, and what firms can do now to strengthen resilience.
What we cover in this episode:
Agility and resilience: What risk teams need today
Cyber Horizon 2026: What’s changing.
Interconnectivity: How risks influence one another
How firms are using the Horizon report
Episode Resources:
ORX members and ORX Lite subscribers can read our full version of the Operational Risk Horizon 2026 report here: https://orx.org/resource/operational-risk-horizon-2026.
Non-members can download a free summary of our report to find out more: https://orx.org/download/operational-horizon-risk-2026?hsCtaAttrib=206975921927.
Available for all, find out more about Horizon by reading our blogs:
Operational Risk Horizon in 2026: Emerging threats and industry priorities: https://orx.org/blog/operational-risk-horizon-in-2026-emerging-threats-and-industry-priorities
Uncertainty dominates operational risk planning in the finance sector: https://orx.org/blog/uncertainty-dominates-operational-risk-planning-finance

ORX Cyber subscribers can access the full Cyber Horizon 2026 report here: https://orx.org/resource/cyber-horizon-2026.
16 min
February 17How the expanding third party ecosystem is testing risk teams
In this episode of the ORX Operational Risk Podcast, Helen L’Abbate, Deputy Director of Research and Information, is joined by Emilie Odin and Nikki Truss‑West, ORX Research Senior Managers, to unpack how digital transformation, new customer expectations, tighter margins and modern operating models have accelerated firms’ reliance on external suppliers. Drawing on insights from the Third Party Ecosystem Risk Management practice paper and the Third Party Cyber Risk Oversight and Assessment 2025 report, the discussion translates emerging risks and community insights into practical, actionable guidance for risk teams.
Listen in as we explore what’s behind the surge in third‑party relationships, the cyber and resilience risks created by increasingly complex supply chains, and the steps firms are taking to strengthen oversight across both TPRM and cyber functions.
Topic highlights:
What third‑party ecosystem really means
What’s driving the rapid expansion
The risks created by the expanding ecosystem
How ORX members are evolving their TPRM frameworks
A first look at ORX’s 2026 third‑party deliverables
Episode resources
Available to ORX members
Third Party Ecosystem Risk Management paper: https://orx.org/resource/third-party-ecosystem-risk-management-2025
Third Party Ecosystem Risk Initiative: https://orx.org/project/third-party-ecosystem-risk-initiative
Insurance sector review of navigating third party risk management blog: https://orx.org/blog/insurance-sector-review-of-navigating-third-party-risk-management
Blog - Third party risk management: Summary of LeadersConnect discussions: https://orx.org/blog/third-party-risk-management-summary-discussions
Available to ORX Cyber subscribers
Third Party Cyber Risk Oversight & Assessment report: https://orx.org/resource/third-party-cyber-risk-oversight-and-assessment-2025
Blogs available to everyone
BCBS third-party risk principles: What you need to know: https://orx.org/blog/bcbs-third-party-risk-principles-what-you-need-to-know
Embedding TPRM in business strategy: Seven steps to success: https://orx.org/blog/bcbs-third-party-risk-principles-what-you-need-to-know
EBA finalises new operational risk event taxonomy: https://orx.org/blog/eba-finalises-new-operational-risk-event-taxonomy
Third Party Ecosystem Risk Initiative: Key TPRM challenges revealed: https://orx.org/blog/third-party-ecosystem-risk-key-challenges
Geopolitics, AI and third parties drive surge in op risk materiality: https://orx.org/blog/geopolitics-ai-and-third-parties-drive-surge-in-op-risk-materiality
To find out more about ORX Membership, ORX subscription services, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org.
21 min
January 27 ORX News top 5 losses of December 2025, CME Group’s trading disruption and a deep dive into the AWS global service outage
Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the top five largest operational risk losses of December 2025, the latest top 10 most viewed stories including CME Group’s trading disruption, a deep dive into the global service outage at AWS, and some service updates.
You can find the top 5 largest operational risk losses of December 2025 discussed in this episode on our website at: https://orx.org/blog/top-5-orx-news-losses-december-2025
ORX News subscribers can find out more on the top 10 most viewed loss events of December 2025 on the ORX News website here: https://news.orx.org/node/13678
ORX News subscribers can read the full story on CME Group’s trading disruption as well as the full deep dive on the AWS global service outage via the ORX News website at: https://news.orx.org/node/13617 and https://news.orx.org/node/13619
ORX News and ORX Cyber subscribers can access the latest Cyber Operational Risk Event Round-ups on our website here: https://orx.org/cyber-operational-risk-event-round-ups-2025
To find out more about ORX News, ORX Cyber and other ORX services, or to access further operational risk resources, just search ‘ORX’ or visit: www.orx.org.

12 min
January 13Turning vision into action: ORX’s strategic evolution for ONFR
In this episode of the ORX Operational Risk Podcast, host Steve Bishop is joined by Luke Carrivick and Simon Wills delve into the refresh of our Strategic Vision for Operational and Non-Financial Risk (ONFR). The discussions centre on the evolution of the Vision, its significance for the risk management community, and the steps risk leaders can take to strengthen resilience and achieve strategic success through 2026 and beyond.
The updated Vision reflects the changing risk landscape, influenced by factors such as geopolitical volatility, digital transformation, and increased interconnectivity.

Key actionable strategies for risk leaders highlighted in the podcast
Assess your ONFR framework – ensure alignment with the refreshed Vision.
Invest in digital risk management – build technology and leverage AI and data for speed and scale.
Engage with peers – participate in ORX forums and the community to share and learn.
Episode resources
Available to all:
Download the updated ORX Vision: https://orx.org/resource/strategic-vision-operational-non-financial-risk
Read our blog on ‘How our vision for operational and non-financial risk management has evolved in 2025’: https://orx.org/blog/vision-operational-and-non-financial-risk-managment-evolved-in-2025
Read our blog on ‘Advancing operational risk management: Insights from RiskMinds’ where we share about the Vision refresh: https://orx.org/blog/advancing-operational-risk-management-insights-from-riskminds
To find out more about ORX Membership, ORX subscription services, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org.
29 min
December 09, 2025EBA Risk Event Taxonomy – What It means for financial institutions
In this episode of the ORX Podcast, host Steve Bishop is joined by Luke Carrivick and John Bosnell to unpack the European Banking Authority’s (EBA) newly published Operational Risk Event Taxonomy. They explore why this update is so significant for financial institutions and how it compares to our own ORX Operational Risk Taxonomy.
The episode highlights ORX’s role in shaping the taxonomy, the practical implications for firms already using our taxonomy, and how new attributes like legal, third party, and ESG risks enhance risk categorisation.
Topics covered:
Challenges and opportunities of the EBA taxonomy
How ORX responded to the new EBA
Practical advice for firms preparing for the transition
Ongoing ORX risk standards for the global industry, including for 2026
Below are links to further resources referenced in the podcast.
Read our blog on ‘ORX responds to EBA taxonomy proposal’ on our website, where it's accessible to all. You can visit it here: https://orx.org/blog/orx-responds-to-eba-taxonomy-proposal
For further information regarding our EBA resources or the ORX Risk Event Taxonomy, both available exclusively to ORX members, please refer to the links provided below:
Blog: https://orx.org/blog/orx-responds-to-eba-taxonomy-proposal
Reference Taxonomy: https://orx.org/operational-risk-reference-taxonomy
Taxonomy guidance: https://orx.org/blog/orx-reference-taxonomy-guidance-enhanced-for-2023
The podcast also highlights our ORX libraries, which are accessible to ORX members via the links provided below:
Reference Control Library: https://orx.org/resource/orx-reference-control-library
Reference Risk Indicator Library: https://orx.org/resource/reference-risk-indicator-library
Reference Process Service Library: https://orx.org/resource/orx-reference-process-service-library
The Scenario Library, accessible to ORX Scenario subscribers, serves as a valuable resource for users to benchmark their internal scenarios against the industry. Visit the library here: https://orx.org/orx-scenarios/library.
To find out more about ORX Membership, ORX subscription services, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org.
22 min
December 02, 2025 ORX News top 5 losses of October 2025, the AWS global service outage, and the FCA’s Motor Finance compensation scheme
Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the top five largest operational risk losses of October 2025, a recent spotlight story covering the global service outage at AWS, and the latest on the FCA’s Motor Finance compensation scheme. The team also cover the top 10 most viewed stories of October 2025 and provide a service update.

You can find the top 5 largest operational risk losses of October 2025 discussed in this episode on our website at: https://orx.org/blog/top-5-orx-news-losses-october-2025

ORX News subscribers can find out more on the top 10 most viewed loss events of October 2025 on the ORX News website here: https://news.orx.org/node/13556

ORX News subscribers can read the full latest spotlight story and deep dive on the AWS outage via the ORX News website at: https://news.orx.org/node/13516 and https://news.orx.org/node/13619

ORX News subscribers can also read more on the Motor Finance stories on the ORX News website here: https://news.orx.org/node/13554, https://news.orx.org/node/13553, https://news.orx.org/node/13552, https://news.orx.org/node/12986, https://news.orx.org/node/13537, https://news.orx.org/node/12955, https://news.orx.org/node/13178, https://news.orx.org/node/12702, https://news.orx.org/node/13535, https://news.orx.org/node/13534, https://news.orx.org/node/12219 and https://news.orx.org/node/12946

To find out more about ORX News and other ORX services, or access further operational risk resources, just search ‘ORX’ or visit: www.orx.org.

13 min
November 11, 2025Which risks are top of the agenda for financial services firms? ORX Top Risk Review results H2 2025
In this episode of the ORX Podcast, Melanie Lavallin, Emilie Odin and Natasha Smith-Craig reveal the biggest risks on the radar for financial services firms, based on our latest Top Risk Review H2 2025 survey.
Our team also features insights from our latest Insurance analysis report and introduces our first-ever Asset management analysis report.
What’s on the agenda?
Headline findings from the Top Risk Review
Risk ranking analysis
Emerging insurance trends and analysis
Data influencing industry decisions
Outlook for next year’s Top Risk Review
For full access to the Top Risk Review H2 2025 report, ORX members and ORX Lite subscribers can download it for free via the ORX website: https://orx.org/resource/top-risk-review-h2-2025.
In addition, ORX has released a comprehensive Insurance analysis report that provides in-depth insights tailored for professionals in the insurance industry. Access the complete report here: https://orx.org/resource/top-risk-review-h2-2025#insurance.
Our first Asset management analysis report can be read here: https://orx.org/resource/top-risk-review-h2-2025#assetman.
Additional information is available on the Top Risk in the recent press release, 'Top Risk Review H2 Shows Fraud Risks Surging Across the Financial Sector,' which can be found on our website here: https://orx.org/blog/top-risk-review-h2-shows-fraud-risks-surging-across-the-financial-sector.
More about the topic on Third Party Risk Management can be found here: https://orx.org/resource/third-party-ecosystem-risk-management-2025.
To find out more about ORX Membership, ORX subscription services, and access other operational risk resources, just search ‘ORX’ or visit: www.orx.org
19 min
October 29, 2025 ORX News top 5 losses of September 2025, Business Disruption Data Deep Dive, latest spotlight story, and more
Listen to this episode of the ORX Operational Risk Podcast to hear the ORX News team cover the top five largest operational risk losses of September 2025, a business disruption data deep dive, and the most recent spotlight story involving a cyber-attack in Brazil where hackers tried to transfer over $130 million US dollars from accounts held by HSBC and other banks. In addition, the team cover the top ten most viewed stories on the ORX News website in September 2025, new ORX cross-services content, and a summary of the latest ORX News Quarterly Information Session.
You can find the top 5 largest operational risk losses of September 2025 discussed in this episode on our website at: https://orx.org/blog/top-5-orx-news-losses-september-2025
ORX News subscribers can see more on the top 10 most viewed loss events of September 2025 on the ORX News website here: https://news.orx.org/node/13467
ORX News subscribers can also read more on the business disruption data deep dive, latest spotlight story, and highlights from the Q3 2025 ORX News Information Session via the ORX News website at: https://news.orx.org/node/13463, https://news.orx.org/node/13397 and https://news.orx.org/node/13523
ORX News and ORX Cyber subscribers can access the latest Cyber Operational Risk Event Round-ups on our website here: https://orx.org/cyber-operational-risk-event-round-ups-2025
ORX News, ORX Cyber and ORX Scenarios subscribers can download the full ORX Scenario Development Handbook: Cyber Risk Events using ORX News data on our website here: https://orx.org/resource/orx-scenario-development-handbook-cyber-risk-events
To find out more about ORX News, ORX Cyber, ORX Scenarios, or access other operational risk resources, just search ‘ORX’ or visit: www.orx.org.
14 min