Three lines of defense, roles and responsibilities
Three lines of defense, roles and responsibilities
Insight

Three lines of defense, roles and responsibilities

Q&A with Glenn Hursh, Managing Director, KPMG LLP

While the concept of a “three lines of defense” risk management framework is not new, many financial services companies struggle with developing and implementing clearly defined roles and responsibilities and accountabilities while also maintaining an appropriate “balance” across the lines of defense. As it relates to the first and second lines, lack of clearly defined roles and responsibilities will very likely result in unnecessary redundancy and inefficiency and/or missed “pockets” or risk.