Outstanding Achievement of the Year: Chapelle Consulting

Chapelle Consulting is a significant contributor to evolution of op risk practices

Ariane Chapelle: “Culture is good, but it doesn’t replace efficient processes”

From its humble beginnings as a marginalised catch-all category under the Basel II rules in 2004, operational risk has spent the last 15 years steadily gaining an equal footing with its longer-established siblings, credit and market risk. 

Progress has been driven by necessity and regulatory guidance. Boards have seen a spate of high-profile op risk losses, many of the largest being fines and penalties for conduct failures such as mis-selling, which placed a dollar value on op risk management