Report - November 2021
Read the Top Risk Review November 2022 to understand operational risk profiles across financial services.
We run two Top Risk Review surveys each year to provide operational risk managers with an up-to-date picture of the material risk landscape. Over 100 risk professionals from more than 70 financial organisations worldwide took part in the November 2022 survey. Each participant ranked what they believe are the top material risks facing the industry today.
The resulting report details the top 16 operational and non-financial risks from the survey. It looks at changes over time and helps you understand how risks are interconnected and what’s driving them.
Top five risks are consistent but there’s continued uncertainty in the landscape
External factors continue to drive a turbulent landscape
The top 5 risks remained the same as in our previous study. However, the material risk landscape is dominated by uncertainty and external factors, with 68% of professionals believing the landscape to be even more turbulent than it was six months ago. Geopolitical instability, macroeconomic uncertainty and regulatory change are key drivers of this uncertainty.
The top five operational risks
- Information security (including cyber)
- Third party
- Data management
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Research and Information Director, ORX
Senior Adviser, Research and Information, ORX
Research Manager, ORX