Operational Risk Consortium

The Operational Risk Consortium (ORC) is a collaborative group formed by financial institutions to improve the understanding and management of operational risk. Operational risk refers to potential losses resulting from inadequate or failed internal processes, systems, or external events, such as fraud or natural disasters. The consortium shares data, insights, and best practices among its members to enhance risk assessment and mitigation strategies. By working together, organizations aim to reduce their exposure to operational risks, ultimately improving their resilience and stability in an increasingly complex financial landscape.