ORX In Focus |March 2023 newsletter

We are pleased to be an associate partner of the latest Raconteur report for The Times on Fraud and Financial Crime.

In 2023, instability, recession and volatility are the perfect backdrop for criminals who are better funded, more technologically savvy, and more agile than they've ever been before. This report from Raconteur provides engaging content on this topic to support implementing an effective fraud prevention strategy.

Read the article featured in the report on cyber risk and our ORX Cyber service, where Roland Kennett, ORX Membership Director, argues financial firms need to take a consistent approach and work together to mitigate the risk of cyber attacks. 

Discover 7 effective ways to enhance your risk indicator practice and stay ahead of the game

One of ORX’s main priorities in 2023 is to create a Reference Risk Indicator Library. This will help organisations in benchmarking their current risk indicators, support enhancements, and accelerate the internal development of risk indicator libraries, which can otherwise be a costly and time-consuming process. 

Don't miss the most recent episodes

of the ORX Operational Risk Podcast

There are two new episodes of the ORX Operational Risk Podcast. In the first, the ORX News team take a look at the five largest op risk losses of January 2023 and then focus on the S for Social in ESG by looking at materialised losses stemming from gender discrimination and sexual harassment in the workplace. In the second, the ORX Cyber and ORX Scenarios teams collaborate to take a look at the highlights of our recent Managing Cyber Risk Scenarios study. 

5 biggest operational risk losses of the month from ORX News

Read our latest round-up of the biggest operational risk losses in February including TD Bank to pay USD 1.21 billion to resolve claims it enabled Stanford Ponzi scheme.