Skip to content


ORX Membership


Risk Management Community

Risk programme

Risk Landscape

Report - March 2022

This report was conducted as part of our new range of monitoring the risk landscape studies, which cover both emerging and material risks. 

The 2022 Operational Risk Horizon report builds on our 2021 study, which found that viewing the emerging risk horizon as a set of standalone emerging risks limits visibility and understanding of the wider risk landscape. 

With risks becoming increasingly interconnected, viewing the landscape holistically is essential to understanding how different risk categories impact and influence each other, how individual factors are linked, and how this affects current and future material risk exposures and outcomes.

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

Key findings

The study found that speed of change is making assessing emerging risks difficult according. The report predicts cyber threats, macroeconomic change and geopolitical turbulence will significantly influence the emerging risk landscape.

Top 3 risks

In this year's Horizon study, advanced cybercrime, in particular cyber warfare, is cited as the most worrying emerging risk category. The second and third largest risks identified in the report are digital strategies and emerging technologies. The report shows a broader and more complex digital ecosystem has emerged and will continue to evolve.


Listen for more insights

For a deeper understanding of the study's results, tune into the ORX Operational Risk Podcast episode exploring this study to hear additional analysis and information.

“The world is more turbulent than it has been in a long time. The events of more than the last 24 months have created a highly dynamic and uncertain risk landscape. As a result, the focus is on the here and now as well as the things we are able to assess, but we do also urge firms to incorporate additional longer-term horizon scanning to facilitate more predictive analysis to identify future changes in the risk landscape.”

Steve Bishop, Research & Information Director at ORX

Gated content start

This resource was produced as part of ORX Membership

Want to access this resource?

If your firm is a member of ORX, log in or register to read this resource.

Log into the ORX website

Not a member? Talk to us today to discuss how you could join the ORX community.

Speak to an expert

Gated content stop


Steve Bishop

Steve Bishop

Research and Information Director, ORX

Simon Johnson

Simon Johnson

ORX Scenarios Senior Manager, ORX

Emilie Odin

Emilie Odin

Research Manager, ORX


Get in touch

Contact ORX to see how we can support operational risk management at your firm.

Contact ORX