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Risk Landscape

Material risk in focus - November 2026

While concern has eased slightly since H1 2026, People has moved up the rankings and remains above its level a year ago.


Workforce capability remains under pressure as firms adapt to rapid technological change

In previous Top Risk Reviews, People concerns focused primarily on competition for key talent and the challenge of attracting in-demand skills. We may now be seeing a shift, driven by AI and wider technological change, towards the need for skills to evolve at pace. This is not simply about recruiting new capabilities or filling specific skill gaps, but continuously developing skills across the existing workforce.

ORX Members and ORX Lite subscribers can log in to read our latest analysis of this key risk, taken from the Top Risk Review H2 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 H2 2026

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This resource is available to all ORX members and ORX Lite subscribers

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