Ongoing project

ORX Scenarios Thought Leadership Initiative

Unlocking the risk management potential of scenarios

Project status

Project underway

Open to

ORX Scenarios subscribers
Senior risk leaders

Service

ORX Scenarios

Participation

Institutional basis (one or two representatives per firm)

Discussions with the risk leaders who contributed to ORX's strategic vision paper highlighted the pivotal role that scenarios should play in driving successful operational and non-financial risk (ONFR) management.

ORX’s vision recognises that ONFR is now closely linked to strategic goals and the capabilities required to achieve them. As firms face increasing complexity, volatility, and interconnected risks, scenario analysis is emerging as a vital tool for managing these challenges and making better informed decisions.

Given the strategic potential of scenario analysis as a critical risk management tool, we believe the time is right to explore and articulate a vision for leveraging scenarios beyond traditional capital modelling and understand where scenarios fit in ORX’s future pathway for effective ONFR management.

As we set out in a short article published in January 2026 to launch this initiative, we will develop this vision for scenarios in close collaboration with the ORX Scenarios community and the wider ORX membership to ensure the vision is practical, widely supported, and capable of advancing scenario practice and strengthening the industry’s approach to operational and non-financial risk.

Have questions or want to join the 2026 ORX Scenarios Thought Leadership Initiative?

Why take part?

By joining this initiative, you will have the opportunity to:

Shape our vision for the future of scenarios as a strategically important operational risk management activity
Join industry-leading discussions on the future of a key risk management tool
Influence the future direction of the ORX Scenarios service, including its data and practice resources

Delivered activities

The first phase of the ORX Scenarios Thought Leadership Initiative focused on defining the initiative’s context, scope, objectives, and approach in a short article available here.

The article is a call to action inviting ORX Membership leaders and ORX Scenarios subscribers to express their interest in participating in the initiative, including via interviews and roundtable discussions that will feed into the initiative’s key 2026 output, a thought leadership paper.

Current and upcoming activities

In the current phase of this initiative, we're setting up a Steering Committee of risk leaders and ORX Scenarios subscribers to help develop our vision for the future of scenarios as a risk management practice.

We plan to hold initial calls with interested members and subscribers, followed by roundtable discussion sessions in late Q1 and Q2 2026 on key opportunities and priorities for non-capital and risk management scenario practice. The outcomes of these discussions will form the basis of an initial draft of the thought leadership paper, which will be made available to the committee for review in Q3 2026 before being published in Q4 2026.