Second line of defence: Difference between revisions
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1. ''Banking'' | |||
The first, second and third lines of defence are identified by the Bank of England in relation to establishing and defending fair and effective markets. | The first, second and third lines of defence are identified by the Bank of England in relation to establishing and defending fair and effective markets. | ||
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The second line of defence is an independent oversight function - commonly the risk functions monitoring each key risk category. | The second line of defence is an independent oversight function - commonly the risk functions monitoring each key risk category. | ||
2. | |||
Similar concepts and structures in other organisations. | |||
Revision as of 18:04, 20 November 2016
1. Banking
The first, second and third lines of defence are identified by the Bank of England in relation to establishing and defending fair and effective markets.
These 'lines of defence' are the governance and controls to protect against risks in an organisation.
The second line of defence is an independent oversight function - commonly the risk functions monitoring each key risk category.
2.
Similar concepts and structures in other organisations.
