Whose Line is it Anyway?

Defending the Three Lines of Defence

How do you organise a financial services firm to manage risk effectively?

This is a question that is seldom answered without the conversation turning to the “Three Lines of Defence” framework. Institutions are adopting this framework in a half-hearted way and are accordingly reaping half-baked risk-management outcomes.

The challenge for C-suite executives and board members is to diagnose whether their organisations are truly “walking the walk” or merely “talking the talk”. In this paper, we highlight five tell-tale signs showing the organisation only purportedly adopting the Three Lines of Defence and what good really looks like with an effective, rigorous framework in place.

Whose Line is it Anyway?

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