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Report: July 2024

The H1 2024 Top Risk Review provides insights into the key current top operational risks facing the financial services industry.


175 risk experts from 84 financial firms took part in the survey.

The participants came from the first, second and third lines of defence in both the banking and insurance sectors, with responses from individuals based in Africa, North and South America, Asia-Pacific, and Europe.


Leverage the insights from the Top Risk Review to benchmark and challenge your risk profile against the 16 key material risks we've pinpointed, with an emphasis on the top five that stand out. Evaluate how your risk management strategies stack up and gain perspective with our analytical comparison, including an in-depth look at the evolution of risk trends over the past year.

Buy the Top Risk Review today to make sure you've got the right risks on your agenda. The report is available to purchase for just £1000. Or, if your firm is a member of ORX you can download it for free.

What's in the report?

The report provides up-to-date insights into the current top operational risks facing the financial services industry, with results based on the personal opinions of risk professionals from across our global membership of financial firms.

The report is 40 pages long and includes:

  • Headline findings and key themes
  • Details on top risk movement over time
  • An individual focus on each of the top five risks
  • A special section on growing reliance on third parties
  • Key drivers of each risk
  • Regional and industry breakdowns
  • An illustration of the distribution of scores across all 16 risks

How to use this report

The Top Risk Review can be used in a number of ways to support your operational risk function, including:

Benchmarking

The Top Risk Review has been designed around the ORX Operational Risk Reference Taxonomy. Use this report to benchmark your views on material risks against the rest of the industry, as well as consider how they could impact your current risk profile.

Insights

(including actions being taken)

Our in-depth analysis of material risk factors highlights specific insights from members, including region or industry. These insights can be used to help shape future risk initiatives, such as scenario planning, operational resilience developments, or risk quantification. Our analysis also includes details of actions firms are taking in response to these threats, which can be incorporated into your own processes. 

Understanding/documenting risk drivers and management actions

Our detailed appendices include lists of risk drivers and current/planned management actions for each risk category. Use these resources to help understand an document your emerging risks for your senior stakeholders.

Listen for highlights from the report

Listen to the podcast episode on Key findings and outcomes of the Top Risk Review H1 2024 for an overview of the report headlines.

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This report was produced as part of ORX Membership

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Not a member of ORX? This report is also available to purchase for £1000.

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