Advanced Operational Risk Group (AORG)
The AORG was formed in 2006 by the Risk Management Association (RMA) at the suggestion of senior U.S. regulators.
Since its inception, the Group has supported advanced operational risk management and the fundamental goals of improving operational risk management practice and ensuring capital adequacy.
Our Mission
Our mission is to advance the disciplines of operational risk management and operational risk measurement through:
Thought Leadership
Preparing industry whitepapers/position papers.
Peer Networking & Knowledge Sharing
Conducting regular roundtable discussions and range-of-practice surveys. Sponsoring a series of working groups on topics of mutual interest and concern.
Regulatory Dialogue
Engaging in regular dialogue with senior U.S. regulators and responding to regulatory and legislative consultative documents/rules as an industry group.
The AORG Value Proposition
AORG unites leading institutions to tackle industry challenges with efficiency and collaboration. Through peer networking, thought leadership, and regulatory dialogue, we deliver actionable insights and a member-driven agenda that evolves with your priorities.
- Efficient/Effective: Pooled resources with robust ongoing support structure delivers a coordinated, cost-effective way to tackle multiple issues simultaneously by creating workstreams that utilize member and external subject matter expertise.
- Peer Community – Larger banks with similar focus.
- Peer Networking and Knowledge Sharing – Informal, Candid, Confidential, and Educational.
- Range of Practice Surveys
- Thought Leadership – Development of consistent standards and common terminology.
- Focused Working Groups
- Timely Hot-topic Roundtables
- Regulatory Dialogue
- Facilitation of dialogue and education among AORG members and the regulators in a way that is discreet for individual member banks.
- Responses to regulatory/legislative consultative documents/rules under the cover of an industry group; e.g., submitted a strong and constructive AORG Comment Letter on the Basel III Endgame NPR.
- Dynamic Member-Driven Agenda – Evolves based on member interest and priorities.
Learn About ProSight Forums and Councils & Committess Beyond the AORG
Membership
Membership is open to any ProSight member institution regulated in the U.S. that is pursuing advanced operational risk measurement and management practices, and/or is required to conduct CCAR / DFAST exercises.
- Ally
- American Express
- Bank of America
- BMO Financial
- BNP Paribas
- BNY
- Capital One
- Charles Schwab
- Citi
- CLS
- Deutsche Bank
- Fifth Third Bank
- First Citizens
- Goldman Sachs
- HSBC North America
- Huntington
- JPMorgan Chase & Co.
- KeyBank
- M&T Bank
- Mizuho Americas
- Morgan Stanley
- MUFG Bank
- Northern Trust
- PNC Financial
- Raymond James
- Royal Bank of Canada
- Santander
- Scotiabank
- Société Générale
- State Street
- TD Bank Financial Group
- Truist
- U.S. Bank
- Wells Fargo
- Zions Bank
Governance
As a member-driven group, the AORG is led by its Steering and Regulatory Committee of senior operational risk leaders of its member institutions.
Support for AORG is provided by ProSight and Greenwich Risk Management Consulting LLC.
- Ed DeMarco, Managing Director, Advanced Risk Services & General Counsel, ProSight Financial Association
- Sylwia Czajkowska, Associate Director, ORM/ERM, ProSight Financial Association
- Jay Newberry, Facilitator AORG; Managing Director, Greenwich Risk Management Consulting LLC
Interested in Joining the AORG?
Power Your Financial Institution’s Success
ProSight Membership gives your institution’s financial services professionals a competitive advantage through exclusive, member-only access to our peer community, leadership opportunities, educational materials, and unique product offerings. Members stay current on the latest risk management best practices, regulatory compliance updates, benchmarking data, growth opportunities, technology, industry trends, and more.
