Risk Benchmarking
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Welcome to Risk Benchmarking, a new research service scrutinising op risk practices at a range of financial institutions. Each quarter, we’ll share some of the findings from one of four cohorts – G-Sibs, other banks, asset managers and insurers, and FMIs.
Participants get to see all the data – message us for details: benchmarking@risk.net
A third of banks do not maintain logs for GenAI models
Risk Benchmarking study finds few banks review prompt logs systematically, with larger firms focusing on higher risk use-cases
Few banks formally evaluate GenAI human-in-the-loop controls
Risk Benchmarking: G-Sibs and challengers use tools to test controls efficacy; others rely on judgement
From gatekeeper to coach: model risk bids to reinvent itself
Model Risk Benchmarking data reveals a function in flux, grappling with resource cuts, AI models, regulatory divergence
Banks insure against cyber risk, but rarely claim
Risk Benchmarking study finds big banks aggressively negotiating on cost of cover, and seeking offsets to Pillar 2 capital
Four in five banks use AI to manage op risks
Risk Benchmarking: Cyber risk use cases growing; governance and ROI doubts give some pause
Benchmarks
Operational risk
Top 10 operational risks 2026
Climate risk
ALM
XVAs
Enterprise risk
Explore the data
Scaling model risk
Banks’ model inventories vary hugely. Some functions manage just 25-74 models, including the odd superregional, while one US G-Sib maintains between 2,500-4,999 models.
Check out more findings from Risk.net’s Model Risk Management study here.
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