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Risk programme

Management, Practice & Data

Practice Benchmark - August 2021

This practice benchmark looks at how financial services organisations decide which operational risk scenarios to run and why.

The three key areas of focus were: 

  • Prioritisation and coverage: business unit and group level coverage and prioritisation
  • Storyline development: data used to support storyline development, bias mitigation, quantification
  • Validation/governance: layers of governance involved, approval

The Risk Identification for Scenario Selection Practice Benchmark established a maturity matrix against which firms can assess themselves to identify strengths and weaknesses in different areas of their practice. The maturity matrix helps firms to see how they compare to the industry, and identify areas of improvement. 

Each project participant also received an individual benchmark report. The individual benchmark report provides a benchmark of your institution against the financial services industry, your sector (banking or insurance), region and institution size. 












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Simon Johnson

Simon Johnson

ORX Scenarios Senior Manager, ORX

Robert Reay-Jones

Robert Reay-Jones

Research Manager, ORX


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