Research
The core purpose of IORWG is to advance the management of operational risk in the global central banking industry.
IORWG research is driven by member interest. Each year IORWG members in the annual conference propose a portfolio of expert groups to member institutions who then vote to support either through leading the expert group or just participating. In a normal year this means that IORWG commissions four expert groups and some initiatives from certain members. The expert groups set out so far are summarized below:
Expert Group Topics
ORM Trends and Best Practices
Organizational risk culture and risk awareness
Incident management and reporting
ORM interdependencies with the management of other enterprise risks
Existing governance structures in the area of risk management
Continuing the Operational Risk Repository
Guidelines
The IORWG is producing a comprehensive set of guidelines of topical interest of IORWG members.
These IORWG guidelines aim at fostering best practices for the management of Operational Risks in Central Banks, Monetary and Supervisory Authorities.
It is important to note that these guidelines do not intend to set up mandatory standards for IORWG members, but to collect sound principles and good practices from previous expert groups and experiences from volunteering IORWG members.
Publications
Below you will find some recommended documents produced either in the context of the expert groups or in the context of the annual conferences.