Institute of Operational Risk (IOR)

The Institute of Operational Risk (IOR) is a professional organisation that is dedicated to promoting the understanding and management of operational risk. Operational risk is the risk of loss resulting from inadequate or failed internal processes, people, and systems, or from external events. The IOR provides a platform for professionals to share knowledge, best practices, and experiences related to operational risk management.The IOR was founded in 2004 and has since grown to become a global organisation with members from over 50 countries. The organisation is run by a board of directors, which is responsible for setting the strategic direction of the IOR and ensuring that it meets the needs of its members. The IOR also has a number of committees and working groups that focus on specific areas of operational risk management, such as cyber risk, conduct risk, and risk culture.One of the key activities of the IOR is to provide training and education to its members. The organisation offers a range of courses and qualifications that are designed to help professionals develop their skills and knowledge in operational risk management. These courses cover topics such as risk assessment, risk modeling, and risk reporting. The IOR also runs a certification program, which allows members to demonstrate their expertise in operational risk management.Another important activity of the IOR is to promote research and thought leadership in the field of operational risk management. The organisation publishes a range of research papers, articles, and other publications that explore the latest trends and developments in the field. The IOR also hosts conferences and events that bring together professionals from across the industry to share their insights and experiences.Overall, the Institute of Operational Risk plays a vital role in promoting the understanding and management of operational risk. By providing training, education, and thought leadership, the IOR helps professionals to develop the skills and knowledge they need to effectively manage operational risk in their organisations. As the importance of operational risk continues to grow, the IOR will no doubt continue to play a key role in shaping the future of this important field.