At the March sessions of the ORX Scenarios Working Group, subscribers discussed several risk topics to learn from peers about current industry approaches to specific scenario challenges and priorities.
Legal risk was discussed in both sessions, including how it manifests in scenario portfolios as a risk taxonomy category, a risk factor, and an impact. One session addressed cyber-related business disruption scenarios and the challenge of ensuring plausibility when scenarios are not group wide. The other explored sanctions violation scenarios, their key assumptions, and the role of regulatory fines given the current geopolitical climate. In this blog, we summarise the key discussion points, emerging industry practices, and common challenges raised across the sessions.
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