Last week, we hosted LeadersConnect Live 2026 in London. We were joined by over 50 members of our leadership community for two days of strategic discussion and networking.
Why our members value our events
"The understanding we are not alone with the issues, questions and solutions."
LeadersConnect Live attendee on the benefits of attending the forum
LeadersConnect Live is our flagship annual conference for risk leaders, providing our community with a unique forum for candid debate and learning from peers. It complements our regular virtual discussions, allowing our community to meet in person and have in-depth discussions on key operational and non-financial risk (ONFR) themes.
Themes from LeadersConnect Live 2026
Topics covered at this year’s conference included:
- Operational and non-financial risk 2.0
- Digital and AI strategy
- Risk appetite
- Operational resilience
- Managing risk in an increasingly volatile world
Across these discussions, we saw six key themes emerge.
1. Operational and non-financial risk needs to transform
There was broad agreement among our participants that operational and non-financial risk must transform to remain effective. Importantly, this is not about replacing existing foundations, but building on them to meet a more complex, digital and fast-moving environment, primarily through a shift in operating model.
The next evolution of operational risk management is characterised by a move towards more dynamic, predictive and integrated risk management. This includes real-time insight enabled by better data and analytics, greater automation to reduce manual effort and closer integration with business decision-making. It also requires more connected systems, a stronger focus on customer outcomes and trust and an improved ability to translate risk into clear, actionable insight for senior management.
At its core, this shift moves risk management from a control function to a strategic capability.
2. A growing focus on value and the evolving role of the second line
A recurring but emerging theme across the conference was the growing need for risk functions to demonstrate value, not just oversight. This mandates a shift in how the second line of defence thinks and operates.
This means working more closely with the business, becoming more closely embedded into decision-making. To enable this transition, risk leaders see the need for a more empowered first line, clearer accountability and a sharper focus on what truly matters.
3. Anticipation and resilience in a more complex risk environment
The risk landscape is defined by speed, complexity and external influence. Risks are emerging faster, evolving more quickly and becoming more interconnected.
External drivers such as geopolitical developments, technological disruption and third-party dependencies are playing a larger role in shaping risk profiles. At the same time, risks are cascading across systems and organisations, often traversing across traditional taxonomy boundaries.
In this context, anticipation and resilience are critical. Organisations need to understand their weaknesses, concentration and ecosystem exposure, strengthen horizon scanning, and continue to explore the value offered through deep or tactical scenario analysis, while also ensuring they are prepared to respond effectively when disruption occurs.
4. Expanding ecosystem risk and the limits of control
A growing proportion of risk now sits outside the direct control of firms, embedded in increasingly complex ecosystems of third, fourth and even nth parties.
This creates challenges around visibility, control and influence. The response discussed at LeadersConnect was pragmatic: focus on controlling what can be controlled, influencing what can be influenced, individually and collectively across the industry, and consciously accepting residual risks where necessary.
5. Reinforcing risk as a truly risk-based discipline
Amid increasing complexity, the importance of being genuinely risk-based came through strongly. This means prioritising effort and resources based on materiality and exposure, rather than applying uniform approaches.
Discussions highlighted the need to focus on what matters most, avoid over-engineering and ensure frameworks remain flexible and aligned to the organisation’s evolving risk profile.
6. Skills remain a critical enabler
Finally, there was a clear recognition that transformation will only be as effective as the people delivering it.
The skillset required for the future is shifting. Alongside core risk expertise, there is growing demand for capabilities in data, technology and AI, as well as critical thinking, communication and storytelling. As one discussion highlighted, many teams were “recruited for yesterday, not today,” underscoring the need for active upskilling and thoughtful talent strategies.
Participants also emphasised the importance of curiosity, diversity of thought, and the ability to challenge and interpret increasingly complex outputs, particularly as AI becomes more embedded in risk processes. Building the right mix of skills across teams, rather than relying on individuals to have everything, will be key.
Final reflections
LeadersConnect Live 2026 highlighted a clear direction of travel for operational and non-financial risk. While the core principles remain relevant, the way risk management is delivered is evolving rapidly.
The challenge now is execution, adapting operating models, strengthening capabilities and embedding risk more deeply into decision-making. Those that succeed will be better positioned not only to manage risk, but to navigate uncertainty and support sustainable growth.
Conversations between risk leaders, like those at LeadersConnect Live, matter because they reflect what’s happening in practice. By bringing together senior risk leaders in person, we’re able to share those experiences openly. We can discuss what’s working and where the real challenges are.
That’s a big part of what we do at ORX. We bring together a global community of risk professionals to connect, challenge and learn from each other. And in a period of change, that collective insight is more valuable than ever.
If you’d like to know more about ORX and how you can join our community, get in touch today.
