PROJECT: Line of Defence Implementation

Challenge

Implementing a ‘three lines of defence’ model is important to demonstrate effective challenge and to ensure the adequacy of responsibilities and capabilities. Knowing this, a major financial institution reached out to BottomLine Group for assistance in ensuring that their ‘three line of defence’ model was being effectively implemented.

Approach

After interviewing key stakeholders across all three lines of defence, our team identified pain points and areas of opportunity. Secondary research then determined regulatory expectations and identified best practices. Next, our team facilitated group sessions to determine critical activities and key accountabilities, and developed and implemented a new governance structure.

Bottomline Results

Not only were accountabilities across the three lines of defence now better understood by the client, they were also able to:

Improve resource allocation processes

Establish a forum for ongoing communications

Explore new rationalization and consolidation opportunities