Report

Operational Risk Horizon 2021

Understand the emerging operational risk landscape

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Report - March 2021

Find out which emerging operational and non-financial risks are on financial organisations' agendas.

This year, we changed our approach to monitoring the operational risk landscape. Having previously gathered views of material risks alongside emerging risks, the 2021 Operational Risk Horizon study now focuses solely on the emerging risk landscape.

The 2021 report has been developed using a two-part survey, with part one resulting in a common definition of emerging operational risks and part two gathering the underlying emerging risk data.

The full report is now available for all ORX members to access as part of their annual membership subscription.

More than 45 financial services institutions were involved in this year's study, sharing their views on what constitutes an emerging operational risk and which emerging risks they were most concerned about.

The results have been drawn together into a comprehensive report which covers our headline findings and explores the relationships between different emerging risk categories and factors, as well as specific themes such as digitalisation and how these impact institutions’ risk profiles.

The report also examines five key emerging risk categories in more detail:

Emerging technologies
Advanced cybercrime
Climate risk
Geopolitics and macroecomomics
People risk

In addition, the report looks at how to identify emerging operational risks, how financial firms are reporting on them and explores the key risk themes identified in the study.