Risk Topics
 
 
 

on failed persons

2016.09.27

The Basel definition of operational risk is this:

"Operational risk is defined as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events."

The grammar of this has always left me wondering what a failed person is, and what to do about them.

Or perhaps they mean "failed people", as in a tribe or nation that failed. An even bigger challenge!

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