Highlights from the 2021 Operational Risk Horizon study
15 April 2021
Podcast: Operational Risk Horizon 2021
The latest episode of the ORX Operational Risk Podcast is now available. You can either listen through Apple Podcasts, Spotify or anywhere else you get your podcasts from (search for 'The ORX Operational Risk Podcast').
In this episode, the team who worked on the project discuss some of the main findings from the 2021 Operational Risk Horizon study, including the top identified emerging risks and setting out the definition of an emerging operational risk. We had originally provided a definition to participants as guidance:
“An industry definition should provide for emerging operational risks that haven't yet materialised but may do so within a minimum of 18 months and looking as far out as 10 years."
However, in this podcast, you can hear how participants of the study expressed that it is becoming increasingly challenging to look further ahead than just 18-36 months.
In the discussion, we also discuss how the industry's approach to identifying and reporting emerging operational risks is changing.