Report

Top Risk Review November 2022

The top material risks on financial firms’ agendas

Service

ORX Membership

Community

Risk Management Community

Risk programme

Risk landscape & industry priorities

Sections

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
Technology
Data management
People

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