The Three Lines of Defence: A Help or a Hindrance · Pamela Stacey. The Three Lines of Defence Control of Risk MANAGEMENT MONITORING & CONTROLS First Line of Defence Oversee, Define

The Three Lines of Defence: A Help or a Hindrance?

Cate Smith

Pamela Stacey

The Three Lines of Defence

Control of Risk

MANAGEMENT MONITORING & CONTROLS

First Line of Defence

Oversee, Define & Assess Risk

Setting Risk Management and Internal Controls

Framework

Independent oversight ofDelivery activities

Confirm Control of Risk

BUSINESS MONITORING

Second Line of DefenceThird Line of

Defence

Independent Assurance of Risk

Independent review & assessment of Risk,

Assurance & Internal Control effectiveness

Focus on strategic, enterprise level

activity

INDEPENDENT ASSURANCE

Independent Review ofRisk

Own, Operate & Manage Risk

Assessment, evaluation & control of day-to-day operational activities

Internal ControlsRisk identification &

management

Accountability and Governance

Framework

Communication

The Three Lines of Defence: A Help or a Hindrance?

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