Ariane Chapelle is honorary reader in operational risk at University College London and the director of Chapelle Consulting, a UK-based risk management advisory firm
Sometimes it's good to go back to basics. Every operational risk manager knows the Basel Committee on Banking Supervision's definition of op risk: "The risk of loss resulting from inadequate or failed internal processes, people and systems or from external events." That's PPSE for short.
After 15 years of frameworks, lines of