Guidance to help you use the ORX Reference Taxonomy 

To help you get the most from the ORX Reference Taxonomy, we've created guidance to go alongside it. The guidance includes examples and provides more detail about the taxonomies and how you can use them. 

Understand how to use each taxonomy at your firm

There's separate guidance available for both the Event Type and the Cause and Impact taxonomies. The Event Type Taxonomy guidance gives you an overview of the taxonomy and provides detailed information about each level 1 risk, including examples of level 2 risks and deep dives.

Similarly, the guidance for the Cause and Impact Taxonomy provides more detail on categorising causes and impacts, explores flags and risk themes and gives you practical examples and use cases.

Available individually or buy both and save

In line with our mission to support operational risk management throughout the financial sector, we provide both taxonomies for free (download them here if you haven't already). The guidance is available to purchase individually for each taxonomy, or save money by buying them as a package.

What's available?

  • Event Type Taxonomy guidance only - £750*
  • Cause and Impact Taxonomy guidance only - £750*
  • Both Event Type and Cause and Impact Taxonomy guidance - £1,300*

As well as the guidance, you'll also receive a copy of the full report for the relevant taxonomy. If you'd like to purchase one or both of the guidance documents, just fill in the form with your details and we'll send you an invoice.

* This price is for firms using the taxonomy to support their own internal operational risk practice. If you are purchasing the taxonomy for commercial use (e.g. as a consultant) please contact communications@orx.org for further details on pricing.  

ORX Operational Risk Reference Taxonomies-01

What will I get in the guidance?

Event Type Taxonomy Guidance

  • An overview of the Event Type Taxonomy
  • Detailed guidance for each level 1 risk, including specific examples of risk events
  • Identification of overlaps between event types and clear boundaries
  • 'Deep dives' for areas commonly debate in the industry, including the level 1 risks of conduct, third party and information security

Cause and Impact Taxonomy Guidance

  • An overview of the Cause and Impact Taxonomy and the bow tie methodology
  • How to use flags and risk themes to add further context and insights to your data
  • Guidance and definitions for specific cause categories, including employees, process failure and systems
  • Guidance and definitions for direct and indirect financial impacts and non-financial impacts

Buy both as a package and save £200, or purchase them individually. Just fill in the form above with your details and the address you'd like on the invoice and we'll get the invoice send straight to you. Once we've received payment, we send you digital copies of the guidance you requested and the full taxonomy report.

Want to know more about the guidance or how you can use the taxonomy?

If you'd like to more about the guidance, or have questions about the ORX Reference Taxonomy, please get in touch with us at communications@orx.org.