Setting the Gold Standard in Operational Risk Management
ORIC International serves as the leading authority in operational risk management. We are dedicated to influencing industry standards, fostering innovation, and promoting best practices across the financial services sector.
Our Members
Our membership spans 39 firms (across 59 brands) worldwide, with the largest member holding over £1.1T of assets under management.
Anticipate, Adapt, Achieve
Operational Risk Intelligence
Access unparalleled insights and data analytics to anticipate, manage, and mitigate operational risks effectively. Our services empower firms to enhance resiliency and maintain a competitive edge in the financial sector.
Strategic Risk Management
Leverage our comprehensive suite of tools and benchmarks to inform your strategic decision-making processes. Our expertise helps you navigate the complexities of emerging risks and regulatory landscapes.
Financial Risk Management
Strengthen your financial risk management strategies with our in-depth analyses and peer benchmarks. We provide actionable intelligence to optimise capital management and safeguard financial stability.
Safeguarding our Members' Customers
We are the leading operational risk consortium for insurance, investment and pension sectors globally.
Founded in 2005, we are run by our members, for our members, ensuring our services are finely tuned to the specific needs of the financial industry.
We empower financial services firms to proactively address operational risk, enhance resiliency, and secure a competitive edge.
Our member-driven organisation offers unparalleled access to comprehensive data, cutting-edge analytics, and peer benchmarks.
By safeguarding our members’ customers through robust risk management practices, we bolster the overall stability and trust in the financial sector. Through our collaborative community, industry professionals connect, share insights, and stay ahead of emerging trends, establishing ORIC International as the definitive source of operational risk intelligence.
Unparalleled Data and Expert Insights
Intelligence
Risk Events
60,000+ Public risk events
Monthly top 10 losses report(s)
Risk Events
Draw on peer experiences to mitigate risks and make informed decisions. Our monthly top loss reports shape strategic thinking, enabling firms to pre-empt failures and enhance operational resilience.
Scenarios
1,475 Member scenario storylines
2,700+ Member assessment data points
Scenarios
Utilise our insights to cover all scenarios comprehensively, averting capital misallocation. ORIC’s tailored reports and extensive libraries refine your strategic approach and bolster risk management, securing your leadership position.
Emerging Risk
576+ Member submitted emerging risks including, TVI assessments
Emerging Risk
Leverage insights from peers to precisely identify and manage risks. Our detailed reports help you address strategic gaps, improving risk management and ensuring sustainable growth.
Key Risk Indicators
Key Risk Indicators
This extensive repository of KRIs boosts organisational risk management capabilities.
Horizon Scanning
Horizon Scanning
This proactive approach enables effective management and mitigation of regulatory risks, ensuring compliance and safeguarding reputation across the organisation.
Controls Library
Control Taxonomy
Interactive Tool
Controls Library
The ORIC Control Taxonomy and Interactive Tool streamline assessments, enhance control gap identification, and provide visual representations of the three levels of control taxonomy for more efficient risk management.
Benchmarks
Benchmarks
ORIC International's benchmarking services enable firms to assess their maturity in risk management relative to peers, offering crucial insights for continuous improvement and maintaining a competitive edge in the dynamic market.
Capital Modelling
Benchmarking insights
Enhances accuracy and robustness
Capital Modelling
The study details the end-to-end capital modelling process, enabling firms to benchmark their approaches, enhance the robustness and accuracy of capital assessments, and ensure capital levels are neither excessive nor insufficient.
Analytics
Personalised notifications
Taxonomy service
Analytics
Our taxonomy service enhances your ability to classify and categorise risks, improving clarity and understanding within your organisation.
Collaboration
Collaborative Forums and Working Groups
Collaborative Forums and Working Groups
This engagement enhances risk management capabilities and helps adapt strategies to changing market conditions.
Member Engagement and Peer Collaboration
Member Engagement and Peer Collaboration
This level of interaction opens doors to new opportunities and ensures you stay ahead of industry trends and emerging risks.
Innovation
Best Practice Papers
Best Practice Papers
Explore the scenario universe for diverse risk assessment options and strengthen your decision-making capabilities.
Benefit from expert guidance on risk management principles, optimizing operational processes and achieving greater efficiency. Learn to create value from risk events with ORIC's expertise and proven strategies.
Becoming a Member
We welcome applications from banks, insurance companies, insurance brokers, investment firms, outsourced service providers, and pensions/retirement organisations.
Initial Consultation
We begin with a comprehensive meeting to understand your organisation’s unique risk management needs and objectives. This step ensures we can offer the most relevant and impactful support.
Tailored Business Case
Following our consultation, we develop a bespoke business case that outlines the specific benefits and value ORIC membership will bring to your organisation.
Application Submission
Submit your application, which will be reviewed by our membership panel. This rigorous review process ensures that all potential members align with ORIC’s standards and values.
Onboarding
Upon acceptance, your organisation will be onboarded, gaining immediate access to ORIC’s extensive resources and expert network.
ORIC In Practice
Paul Grigg
Customer and Operational Risk Director
‘Being part of ORIC has allowed us to leverage a vast array of resources, from scenario analysis to emerging risk insights, which have significantly benefited our strategic planning. The comprehensive data sets and benchmarking reports offer a critical external perspective, fostering a disciplined approach to risk management. ORIC’s role in shaping industry standards and promoting innovation cannot be overstated. The collaborative forums and working groups are particularly effective in facilitating open dialogue among insurers, reinsurers, and regulators.
I highly recommend ORIC membership for any firm looking to enhance its risk management capabilities.‘
Steven Wilcox
Interim Risk Director
‘Membership with ORIC has been instrumental for us. It has not only saved us time but also acted as an accelerant in validating our operational risk data. ORIC’s extensive database and benchmarking tools have provided a broader pool of operational risk data, which is far superior to what we had internally. The regular, well-attended monthly meetings facilitate invaluable dialogue among industry peers, enhancing our strategic decision-making process.
ORIC is essential for any firm aiming to stay at the forefront of operational risk management.”
The ORIC Team
Get in Touch
Get in touch with ORIC International for any enquiries or further information
