Our 2025 update to our strategic vision for operational and non‑financial fisk (ONFR) set out a clear ambition. The ambition that operational and non‑financial risk should evolve into a function that actively enables strategic success. Our vision emphasised the growing importance of non‑financial risks in shaping strategic outcomes, particularly as firms transform digitally, operate in complex ecosystems and face heightened geopolitical and societal uncertainty.
As strategy across the financial sector increasingly moves into areas where the risk profile is dominated by operational and non‑financial risks, Boards and executive teams are turning to risk leaders with new expectations. These leaders are being asked to engage in the formation, planning and implementation of strategy.
This article looks at the next step in our journey from vision to practice. It sets out how we understand the emerging role of strategic operational and non-financial risk management and how we intend to support the risk leadership community over the coming years as they rise to this challenge. At its core is a simple proposition: strategic engagement is becoming a defining test of ONFR capability, and ORX has a role in supporting risk leaders as they rise to this challenge.
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