Report

Operational and Non-Financial Risk Appetite Study

Identifying leading industry practice and developing risk appetite guidance

Service

ORX Membership

Community

Risk Management Community

Risk programme

Management, Practice & Framework

Sections

Report - September 2023

The ONFR Risk Appetite Study 2023 sets out current industry progress and reflects over 50 ORX members’ use and experience of risk appetite for operational and non-financial risk (ONFR).

The report provides details about planned developments in risk appetite industry practices. The report can be used as a tool for external benchmarking and contains:

Eight ways to improve your risk appetite approach based on member-shared experiences
Key challenges in effectively using ONFR risk appetite
Risk appetite and strategic processes
Risk appetite statements
Risk appetite metrics
Governance and reporting

The report is an output of a study completed with our Risk Management Working Group at their request. We would like to take this opportunity to thank members for their contributions during these meetings and survey responses.

Disclaimer: ORX has prepared this resource with care and attention. ORX does not accept responsibility for any errors or omissions. ORX does not warrant the accuracy of the advice, statement or recommendations in this resource. ORX shall not be liable for any loss, expense, damage or claim arising from this resource. The content of this resource does not itself constitute a contractual agreement, and ORX accepts no obligation associated with this resource except as expressly agreed in writing. ©ORX 2024