Practice Benchmark - August 2021
This practice benchmark report looks at scenario practices of over 70 firms and shows how scenario practice is changing.
In March 2021, we published a white paper on the future of operational risk scenarios, describing both the evolving use of scenarios and changes in how scenario processes are operating across financial services.
The paper highlighted that the main priority for institutions has broadened over time to a desire for a scenario process that supports active risk management, is streamlined and agile, and is more integrated with other operational risk framework components.
About the benchmark
This Practice Benchmark report looks at the extent to which these changes are being adopted. It explores all areas of the scenario process, including:
- Scenario usage
- Identification and selection
- Creation and assessment
- Governance and oversight
Individual, customised benchmark reports
As this was one of our practice benchmark studies, each participating firm also received an individual benchmark report showing where they sit against the other institutions that took part.
Gated content stop
ORX Scenarios Senior Manager, ORX
Research Manager, ORX