This week we welcome existing ORIC International Board member Justin Elks to the position of interim Chairman. We are excited to have Justin take over this role as ORIC International continues its global growth.

Mr Elks says, “I am pleased to be able to help ensure an effective transition, keeping ORIC’s focus on advancing operational risk management and measurement – for the benefit of its current and future members, the wider industry and all its stakeholders.”

ORIC International has developed a nomination and governance committee, with Anne Murphy, Head of Odgers Berndtson’s UK Financial Services practice (a pre-eminent executive search firm), participating as a committee member to support the Board in identifying a new Chairman and ongoing succession plan.

Once again, we would like to take this opportunity to thank Michael Sicsic for his service as Chairman, and we now welcome him in his new capacity on the Board as an independent non-executive director.

As part of the Internal Model Industry Forum, ORIC International had been working with key experts from our membership to identify and discuss current market practices in operational risk modelling.  This booklet sets out the findings of this group and we hope that you find the guidance useful for understanding current insurer practices and future areas of consideration.

Contact ORIC International at enquiries@oricinternational.com for your copy of this insightful report today!

In 2015 we are proud to celebrate our 10th year of advancing Operational Risk for the (re)insurance and investment management industry.  Our membership continues to grow on an international basis allowing us to bring our innovative approach to a much wider audience than ever before.  We wish to thank all of our out members and supporters for their participating and involvement over the last decade and welcome the challenges ahead!

For the first time in it’s 10 year history, ORIC International has launched a stand alone product available to purchase by non-members.  This comprehensive reference guide compromise of a best practice guide that covers all aspects of the scenario analysis process and a complete set of 38 benchmark scenario specification developed by industry experts.

Order your copy today at enquiries@oricinternational.com for £750.00!  Discounts available for multiple or bulk orders – contact us for more information.

ORIC International is pleased to present the summarised results from the ORIC International and Oliver Wyman Operational Risk Management & Measurement Survey 2015. The purpose of this survey was to understand current operational risk management and measurement practices and highlight priority areas for future enhancements in the insurance sector.

This report summarises the findings from the survey and enables firms to benchmark their own approaches and areas of focus, to those of their peers and the wider industry.

Contact ORIC International at enquiries@oricinternational.com for your copy of this insightful report today!

The 2nd edition of the Operational Risk Landscape report provides a high level overview of the risk events submitted to ORIC International in H1 2014 compared to the last 5 years. It highlights the trends that ORIC International observed and provides a unique insight into the loss profile of the industry for benchmarking purposes.

Contact ORIC International at enquiries@oricinternational.com for your copy of this insightful report today!

This is the second year in a row that ORIC International has been short listed for this award and we look forward to the event in February 2015.

Insurance companies gathered in Sydney to see a demonstration of ORIC International’s Operational Risk Information System that went live earlier this year.  The system provides a single platform for the collation of operational risk data as well as several content and library services such as a comprehensive scenario and KRI library.