Report
Operational Risk Horizon 2024
Diving into the top emerging operational risks for financial services firms
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Report - March 2024
Discover the top emerging operational risks facing financial firms with our ORX Operational Risk Horizon report.
The 2024 Operational Risk Horizon report provides a thorough examination of the primary operational risk concerns for financial firms over the next 12 to 36 months. More than 40 leading banks and insurance firms from around the world participated in this study, providing industry insights and information you can't get elsewhere.
The full report is now available for all ORX members to access as part of their annual membership subscription.

40
firms
surveyed

11
emerging risk categories

4
risks in
focus
How to use the report

Benchmarking
Compare your firm to the industry
Compare the risks against previous years

Insights
Actions taken to respond to threats
Detailed analysis of potential impacts

Risk drivers
Comprehensive lists of concerns, drivers and impacts
Use in risk assessment and scenario planning
What's in the report
1. Emerging risk categories
- Analysis of the emerging risk categories of greatest concern over the next 12-36 months
- An appendix featuring a comprehensive overview of the specific drivers and concerns for each category
2. The external macroenvironment
- An in-depth examination of the factors that firms perceive as having the greatest potential to both shape and detrimentally affect the evolving risk landscape across our selected six macroenvironmental categories
- A list of management actions currently underway across firms to mitigate risks and enhance resilience across each of these categories
3. Key risks in focus
- A summary of key points made on four priority risk areas, selected by ORX as topical and of high importance to firms – emerging technology, cybersecurity, climate risk, and social risk
“The solidification of the top four emerging risks, consistent with 2023, anticipates the continuation of an increasingly integrated, digital and data-driven working environment, and the risks associated with the growing reliance on key technology service providers. These advancing challenges will face not only individual firms, but the entire financial sector.”
2024 Operational Risk Horizon Report
Headline findings
Listen for more insights
Find out about key findings and outcomes of the Operational Risk Horizon 2024 from our ORX Operational Risk Podcast.
Here are some of the headline findings from the report
A constant but increasingly concerning risk landscape
The top emerging risks remain consistent but grow in concern for risk practitioners, with advancing cybercrime still in top place.
Regulation rises through the ranks as a growing concern
Regulatory scrutiny is emerging as a growing compliance concern as financial firms endeavour to adapt and comply with a more complicated regulatory environment.
The omnipresent risk of Cybercrime
Cybercrime remains a consistent feature on the risk landscape, with the rapid development and adoption of emerging technologies ensuring that cybersecurity is a continuing growing area of concern for financial institutions.
AI and cloud computing at the forefront of emerging technology concerns
Artificial Intelligence (AI) remains the most concerning emerging technology and has risen greatly in prominence over the last year.
Future supply chain resilience at risk from a variety of threats
Of growing concern for firms is the future resilience of supply chains in the face of several emerging risks.
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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 2025
Contacts:

Steve Bishop
Research and Information Director, ORX

Natasha Smith-Craig
Assistant Research Manager, ORX

Cameron Harvie
Assistant Data Manager, ORX