Three lines of defence model still evolving, say practitioners
Clearer split in responsibilities between first and second lines needed, say op risk chiefs
The three lines of defence model for operational risk management needs constant fine-tuning if it is to work effectively for larger banks, practitioners have said. Regulators have sought to make the approach a banking industry standard, but the past 18 months have seen a string of risk managers complain it can be difficult to put into effect.
Initial attempts to implement the approach at HSBC
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