How to guide: Scenario Process Benchmark

Discover how ORX Scenarios empowers financial institutions to proactively manage risks through the 2024 Scenario Process Benchmark and Research Study.

Learn how this resource can bring value to your institution by reading the project phase outputs and how to use the study sections to help elevate your risk management strategies.

With 89 institutions participating in the Scenarios Benchmark Research Study, this is the largest dataset ever collected by ORX Scenarios, setting a new standard in benchmarking and best practices.

Overview of the project’s phased outputs:​

Phase 1 (June-July 2024) of the 2024 Benchmark and Research Study is now complete:​

• All 89 participating institutions’ have received their individual process benchmark reports ​
• All subscribers also have access to a summary benchmark report and the maturity matrix​

Phase 2 (September 2024): state of the industry report analysing current mature practice and challenges, as well as process and use trends​

Phase 3 (timings TBC): initial catalogue of scenario process templates

How to use the study

• Assess and compare the maturity of each stage of your end-to-end scenario process against the industry as a whole, institutions in your sector, institutions in your region, institutions of a similar size, and (if requested) peer institutions
• Identify and inform scenario process enhancement priorities and initiatives at relevant process stages, including scenario identification and selection, trigger use and processes, scenario review and refresh practices, qualitative development, quantitative assessment, scenario integration, systems, and process automation
• Report scenario process enhancement needs to senior management by highlighting key process weaknesses to inform strategic planning and prioritisation
• Monitor and evidence progress and developments in your scenario process over time against your current maturity scores using the ORX Scenarios Maturity Matrix