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Release: Australia · Updated: 2026-03-12 · Official documentation · View source

Create an ORX external event

Create an Operational Riskdata eXchange (ORX) external risk event to share the risk event of your company with other organizations. This exchange of risk events information acts as a learning for other organizations in the industry and prevents them from making the same errors.

Before you begin

Role required: sn_risk_workspace.operational_risk_manager

About this task

The ORX association enables operational and non-financial risk professionals to collect, measure and analyse data in an effective way that is consistent with industry. To view and create an ORX event, you must enable the Show ORX External Events property.

Procedure

  1. Navigate to All > Risk > Risk Workspace > External risk events > ORX events.

  2. Click New.

  3. On the form, fill in the fields.

    FieldDescription
    NameName of the risk event
    DescriptionBrief description of the event.
    Company details
    CompanyCompany in which the event occurred.
    RegionRegion in which the event occurred.
    Role of the firmRole the firm had in relation to the transaction.
    Business line level 2Business line of the event.
    CountryCountry in which the event occurred.
    CounterpartyType of counterparty or claimant that is involved in the event.
    ORX memberOption to show if the company is an existing ORX member.
    Loss details
    Loss event idID of the loss event.
    Loss categoryCategory of the loss.
    Event type level 2Level 2 of the event such as corporate finance, merchant banking and so on.
    Process codeCode of the process.
    Product codeCode of the product.
    OpenOption to denote if the risk event is open.
    SourcesSource of the event.
    Classification
    Boundary riskOperational risk event which triggers a consequence for example, financial loss in another risk category.
    AMA statusAdvanced measurement approach (AMA) is one of three possible operational risk methods that can be used under Basel II by a bank or other financial institution.
    Financial amounts
    Gross loss amountGross loss amount.
    Direct recoveryAny payment other than an indirect recovery received by the firm which offsets the loss.
    Indirect recoveryRecovery made through insurance.
    Net Loss (in Local Currency)Net loss incurred in the local currency.
    Net Loss (in Euro)Net loss incurred converted to Euros.
    Key dates
    Date of discoveryDate the event was discovered.
    Date of event startDate the event started
    Date of settlementDate the event was settled.
    Date of publicationDate the even was published.
    Date of event finishDate the event finished.
    Cause
    Cause level 3Third cause level of the event.
    Additional details
    JurisdictionJurisdiction of the event.
    Scenario categoryCategory of the scenario such as conduct, external fraud, technology and so on.
    Environmental volatilityAspect of the environment or circumstances in which the bank was operating at the time of the event.
    Activity
    Work notesNotes that are visible to any responder to this event, their manager, or an administrator.
    Additional commentsAdditional comments about this event.

Parent Topic:Using the Risk Workspace