Practice notes - October 2018
The Scenario Practice Note Series from ORX Scenarios describes the end-to-end operational risk scenario process.
The process is split into nine interconnected stages. Each stage is outlined by an individual Practice Note which covers:
- An introduction, providing a description of the building blocks agreed by participants
- General practice, describing techniques commonly used
- Subscribers' experiences, providing some examples of how subscribers implemented the techniques
The notes pull together information from different ORX sources and are tailored to the needs of ORX Scenarios subscribers.
The end-to-end scenario process
Each stage of the process is analysed in the Practice Notes and described individually, and interactions between different stages are highlighted.
How can you use the Practice Notes?
ORX Scenarios subscribers use the Practice Notes to solve a number of different challenges such as:
- Demonstrating to supervisors that their practice is equivalent to other firms
- A training tool to help participants understand what is expected of them at each stage of the process, and why it is performed in a certain way
- Give comfort to the business that they are performing an activity in line with their peers
- To help them understand if there is equivalent practice that may be suitable to implement in their own firm
The entire Scenario Practice Note Series is available to all ORX Scenarios subscribers.
This resource is available to ORX Scenarios subscribers
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Simon Johnson
ORX Scenarios Senior Manager, ORX
Robert Reay-Jones
Research Manager, ORX
