Whose Line Is It Anyway? Defending the Three Lines of Defence

REPORT PREVIOUSLY PUBLISHED BY OLIVER WYMAN
December 17, 2015
Industry Trends
Global

Abstract

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 report, Oliver Wyman highlights five tell-tale signs showing organisations only purportedly adopting the Three Lines of Defence and what good really looks like with an effective, rigorous framework in place.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is part of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

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