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    ORX Scenarios

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    Risk programme

    Management, Practice & Framework

    Paper - October 2024

    Scenario analysis is at a turning point: to realise the full potential of scenarios as an active value-adding risk management tool, institutions must leverage industry best practice solutions to optimise their scenario process. 

    This paper provides insight into the industry’s main scenario process enhancement priorities along with practical evidence-based options for scenario leaders and practitioners to consider as they work to optimise and unlock the full potential of their scenario programme. 

    Download the free white paper from ORX Scenarios for an overview of the six priorities to enhance your firm's scenario programme. 

    ORX Scenarios White Paper State of the Industry 2024 Read this free paper from ORX Scenarios for valuable insights into the industry's scenario priorities to enhance your firm's processes.  

     

    Introduction

    To unlock the full risk management potential of scenarios, ORX conducted its largest ever benchmarking exercise on the end-to-end scenario process. In early 2024, 90 participating institutions reported on the maturity, advances and challenges of their scenario process based on a new maturity matrix covering 22 process areas.
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    Largest Scenarios Benchmark

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     90 Institutions

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     22 Process areas

    The results, along with the outcomes of discussions with the Scenarios Community over the last 18 months, are set out in this report. The findings provide an opportunity to understand the recent progress achieved and the process enhancements that are now needed to fulfill the potential of scenario analysis as a strategically important active risk management tool.
    “This study supports the ongoing efforts to streamline the end-to-end scenario process by showing that much is already being done to optimise the process and change business perceptions of scenarios. The necessary shift in perception is from a view of scenarios as a resource-intensive, manual, and duplicative undertaking to a process that is efficient, engaging, and reflective of the wider business and risk environment."

    State of the Industry Report

    ORX Scenarios White Paper State of the Industry 2024 Read this free paper from ORX Scenarios for valuable insights into the industry's scenario priorities to enhance your firm's processes.  

     

    Listen for highlights from the report

    For an overview on the report listen to the podcast episode on What are the future directions and priorities for the scenario process? 
    You must have cookies enabled to view this podcast embed. To do so, review your cookie settings here.

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    This report is available as part of the ORX Scenarios service

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    About ORX Scenarios

    ORX Scenarios gives scenario practitioners practical tools and information to help them create and review operational risk scenarios. Compare your scenario portfolio and methods against your peers to ensure full coverage of the most relevant scenarios. ss ideas and share expertise.

    Discover the benefits ORX Scenarios can provide for your firm:

    • Join a global network and become part of an active community of scenario practitioners from around the world
    • Improve your practice by participating in opportunities for you to enhance your practice
    • Access an industry-leading scenario library, containing quality scenarios from other financial firms, helping you to identify gaps, create new scenarios and validate your existing ones

    Find out more about ORX Scenarios

     

    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 2024

    Contacts:
    Simon Johnson

    Simon Johnson

    Head of Services, ORX

    Robert Reay-Jones

    Robert Reay-Jones

    Scenarios Senior Manager, ORX

    Steve Bishop

    Steve Bishop

    Research and Information Director, ORX

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