High-quality data powers good operational risk management

As you know, consistency is key for measuring and analysing operational risk loss data. The ORX Operational Risk Reporting Standards were created to make sure that all our members have access to high-quality, comparable data. But, they are now used by financial firms around the world.

Combining information & experience from op risk experts

The reporting standards are created and maintained in collaboration with a group of operational risk professionals from financial organisations around the world. We review and update them regularly to ensure they remain relevant for today's operational risk environment.

improve your data collection & reporting practices with the orx standards

Part of our mission is to promote good operational risk management beyond our membership, so our standards for both the banking and insurance industries are freely available. Download them today to start using them to support your data collection and reporting practices.

Reporting standards

Creating an operational risk taxonomy for today's risk landscape

At ORX, we're passionate about helping financial firms improve their operational risk management. The risk landscape and operating environment has changed drastically over the last 15 years, which is why we've been working to create a new taxonomy for operational and non-financial risk. The ORX Reference Taxonomy builds on our award-winning 2018 taxonomy to include level 1 and level 2 risks. Download the taxonomy for the full list of risks, including how they map to the Basel Events Types.

Download the ORX Reference Taxonomy