In this episode of the ORX Operational Risk Podcast, the ORX News team take a look at the five largest operational risk losses of January 2023 and, in recognition of International Women’s Day on 8th March, focus on the S for Social in ESG (Environmental, Social and Governance) by looking at materialised losses stemming from gender discrimination and sexual harassment in the workplace. They also give a brief look into which controls may have failed and ultimately led to regulatory fines and settlements from the recently published ORX Reference Control Library.

You can find the top 5 operational risk losses discussed in this episode, along with all previous top 5s, on our website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q1-2023

You can also find out more about the ORX Reference Control Library and how to purchase it here:  https://managingrisktogether.orx.org/insights-resources/orx-reference-control-library

ORX News subscribers can read more on the ESG stories covered in this episode via the ORX News website at: https://news.orx.org/node/11271 and https://news.orx.org/node/11354

Please note that we have another episode of the ORX Operational Risk Podcast being released for this month, which focuses on our recent guide on how to manage Cyber risk scenarios – so keep a look out for this!

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

What is the global risk community prioritising in 2023? In this episode of the Operational Risk Podcast, ORX's newly appointed Executive Director, Dr Luke Carrivick, is joined by senior research colleagues to explore the following 5 key focuses:

1. Developing the strategy for risk management

Following this section, stay tuned for the top 5 operational risk losses of December 2022 as reported by the ORX News team, as well as a focus on the rise and fall of the bankrupt cryptocurrency exchange, FTX, looking into the ripple effects on the global crypto markets and the “future” of crypto. 

You can find a written version of 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-q4-2022. ORX News subscribers can also access Deep Dives for more information at: https://news.orx.org/search/deep-dive.

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

In this final episode of the ORX Operational Risk Podcast for 2022, the ORX News team take a look at the five largest operational risk losses of November 2022 and cover this year’s Top 5 largest losses, including discussing how the ORX News team applied the ORX Reference Taxonomy to those events, as well as commenting on recent findings from the latest Top Risk Review published earlier this month.

You can find the top 5 operational risk losses discussed in this episode, along with all previous top 5s, on our website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q4-2022

You can also find out the latest information about the ORX Reference Taxonomy here: https://managingrisktogether.orx.org/news-blogs-updates/survey-insights-indicate-orx-reference-taxonomy-being-considered-industry

The latest Top Risk Review report is available to ORX members here: https://members.orx.org/orx-publications/top-risk-review-november-2022. Non-members can find out more and order a copy of the report to purchase at: https://managingrisktogether.orx.org/insights-resources/top-risk-review-november-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/

In the first half of this episode, Simon Johnson and Rob Reay-Jones take a look at the ORX Scenarios Library and consider some of the findings from this year’s submission.

The ORX News team then take a look at the five largest operational risk losses reported by the ORX News team in October 2022 and explore a series of cyber-related data breaches which led to regulatory changes in Australia, as well as some findings from the ORX Cyber service regarding data on cyber events. 

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-q4-2022. ORX News subscribers can also access Deep Dives for more information at: https://news.orx.org/search/deep-dive.

The full ORX Scenarios Insights into Material Risks 2022 report is available to members and subscribers here: https://members.orx.org/orx-publications/orx-scenarios-insights-material-risks-2022-report. You can also find out more about this year’s ORX Scenarios Library at: https://managingrisktogether.orx.org/orx-scenarios/orx-scenarios-library.

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

In the first part of this episode, Luke Carrivick interviews Steve Bishop on developments in operational risk controls and finds out more about the new ORX Reference Control Library.

The ORX News team then take a look at the five largest operational risk losses reported by the ORX News team in September 2022 and explore the topic of climate, including greenwashing and the impact of Hurricane Ian.

ORX members can explore the ORX Reference Control Library for free on the members-only website. The library is also available for non-members to purchase, find out more at: https://managingrisktogether.orx.org/orx-reference-control-library.

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-q3-2022. ORX News subscribers can also access the climate news round-up at: https://news.orx.org/node/11289.

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

In this shorter episode of the ORX Operational Risk Podcast, the ORX News team take a look at the five largest operational risk losses of August 2022 and finish their data management series.

You can find the top 5 operational risk losses discussed in this episode, along with all previous top 5s, on our website at: https://managingrisktogether.orx.org/orx-news/top-5-orx-news-losses-q3-2022

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

In the first half of this episode, Steve Bishop and Emilie Odin talk through the recent ORX Top Risk Review. They explore the key themes and top risks identified in the study, including information security and cyber, third part and data management.

Fern Ashcroft and Stanca Oproiu take a look at the five largest operational risk losses reported by the ORX News team in June 2022 and continue their series on data management.

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-q2-2022. ORX News subscribers can also access Deep Dives for more information at https://news.orx.org/node/10936 and https://news.orx.org/node/7201.

ORX members can download the latest Top Risk Review report for free on our website and non-members can purchase it at https://engage.orx.org/buy/monitoring-the-risk-landscape-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/

In the first section of this episode, Steve Bishop, Esther Renfrew, John Bosnell and Natasha Craig discuss climate and operational risk. They look at how financial institutions are approaching climate-related risks and what ORX is doing to support our membership with this challenge. They also explore the impact of climate on operational risk using some real-life examples reported by ORX News.

Fern Ashcroft then joins Natasha Craig for the regular section from ORX News, The team take a look at the five largest operational risk losses of May 2022 and begin a short series focusing on data management.

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-q2-2022.

ORX members can access all our available climate resources on the members-only website: https://members.orx.org/climate-risk-resources

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

Join Simon Wills, ORX Executive Director, and Mark Cooke as they explore how risk can innovate. They also introduce a new initiative – iDP (innovation data platform) – which can help risk managers overcome the barriers to innovation.

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

This episode features Simon Wills, Mark Cooke, Fern Ashcroft and Stanca Oproiu. 

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-q2-2022.

You can find out more iDP here: https://idp.orx.org/.

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

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/