Our strategic vision for operational and non-financial risk

Report - Sept 2024

Over the past 10 years, financial services have undergone a 
transformation that has brought together, at speed, new digital technologies, business models, service offerings and partnerships. 

To help the financial services industry understand the consequence of this transformation for operational and non-financial risk (ONFR), we are exploring whether the business transformation has affected ONFR profiles and priorities to the extent that firms need to fundamentally change how they manage ONFR.

We engaged with approximately 50 CROs and other senior risk leaders from our membership, asking them:

• Whether ONFR is increasing
• Whether and how ONFR is changing
• Whether ONFR management needs to change
• What successful ONFR management will look like in the future

We've drawn the results into a report which sets out our strategic vision for the future of ONFR. This report captures the spirit of those conversations. It delves into the characteristics of successful risk management, provides a path forward for ONFR and highlights essential new capabilities and insights. Currently, it's exclusively available to ORX members and will be publicly available in November. Subscribe to our newsletter to ensure you receive a notification as soon as the report is released.