Three lines of defence model comes under attack

Operational risk managers say idea is too formalised and beset by implementation challenges


The three lines of defence model looks great on paper. A key part of the Basel Committee on Banking Supervision's 2011 Principles for the sound management of operational risk, the model is designed to enhance accountability, risk governance and decision-making within a business by splitting responsibility for managing risk between frontline employees, a second line consisting of risk management staff, and a third line made up of internal audit.

One need only look back over the past decade to

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