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Risk Landscape

Material risk in focus - May 2026

Business Continuity makes the top five risks for the first time in the H1 2026 Top Risk Review.


This upward shift reflects the impact of recent geopolitical shocks, alongside heightened concern over disruption from cyber incidents, technology failures across supply chains, and persistent physical climate related risks. Participants’ responses for this risk often focus on a wider resilience lens.


Business Continuity entering the top five reflects both a more turbulent operating environment and a growing recognition of the importance of resilience in managing turbulence in an interconnected risk environment.

Recent geopolitical shocks, cyber threats, third party disruption and technology outages have heightened concerns about firms’ ability to continue delivering critical services under stress. At the same time, responses underline that resilience extends well beyond traditional business continuity planning.

In the face of these dynamic challenges, firms continue to focus on strengthening their preparedness and, ultimately, their resilience. Examples of actions include:

  • Uplifting or increasing focus on resilience scenario testing
  • Leveraging new or existing data for better insights into emerging risks
  • Driving greater alignment between risk and resilience activities and data

ORX Members and ORX Lite subscribers can log in to read our latest analysis of this key risk, taken from the Top Risk Review H1 2026. This includes:

  • An overview of the risk and its ranking
  • How it's changed over time
  • Risk drivers
  • Planned or current risk management actions being taken by firms

About the ORX Top Risk Reviews

The Top Risk Reviews bring together industry views on current risk priorities in financial services. Drawing on input from risk professionals across the ORX community, these twice-yearly studies help firms understand how the risk landscape is evolving and benchmark their thinking against their peers. The Top Risk Reviews use the Level 1 risks from the Event Type Operational Risk Taxonomy.

Explore the Top Risk Review H1 2026

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