Top Risk Review November 2023

Report - November 2023

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

Get an industry view of the risk landscape

Our twice-yearly Top Risk Reviews provide an industry-wide picture of risk profiles. It's based on insights from operational risk professionals from financial services firms around the world.

Each participating individual shares their personal views on the most concerning material risks facing the industry today. They also share what they believe is driving any changes.

You can use Top Risk Review to validate and challenge your risk profile against the 16 material risks assessed, with a focus on the top five material risks identified and the effectiveness of risk management practices. It also provides comparisons and commentary on changes in trends since last year.

More than 120 risk experts from 70 financial firms took part in the November 2023 review. The participants came from the first and second lines of defence in both the banking and insurance sectors, with responses from individuals based in Africa, the Americas, Asia-Pacific and Europe. This Top Risk Review report is available to all ORX members.

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 2025

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