Three Lines of Defence
What is Three Lines of Defence?
A governance model that divides risk management responsibilities into three layers: first line (business operations and management controls), second line (risk management and compliance functions), and third line (internal audit).
Terms that appear alongside three lines of defence
Each of these is named in at least one of the same controls as three lines of defence. The number is how many controls name both.
- governance 5 shared controls
- internal audit 5 shared controls
- audit 5 shared controls
- compliance 4 shared controls
- risk assessment 3 shared controls
- risk committee 3 shared controls
- risk appetite 3 shared controls
- risk appetite statement 3 shared controls
Frameworks that govern three lines of defence
What the standards actually require on three lines of defence
Requirements naming three lines of defence across 5 standards, quoted from the control text.
Three Lines of Defence. Cyber risk governance should follow a three lines of defence model (operational management; risk and compliance oversight; internal audit) (para 19).
BMA-5 · Three Lines of Defence →Firms materially exposed to cyber underwriting risk understand the evolving cyber landscape and show continued commitment to developing knowledge of affirmative and non-affirmative cyber underwriting risk, proportionate to the level of risk and any growth targ...
lloyd-s-of-london-cyber-insurance-requirements-and-underwriting-standards::C5 · Develop cyber expertise across the three lines of defence and retain accountability →Sets the supervisory approach to operational risk and the elements of effective management: an appropriate framework, risk governance (board oversight, senior management responsibilities, risk culture), the three lines of defence (business unit management, the...
hkma-spm::OR-1 · OR-1 Operational Risk Management →Data risk management identifies, assesses and mitigates data-related risk, with risks tracked, prioritized and integrated into the organization's enterprise risk framework (three lines of defence, risk, audit).
edm-council-dcam-data-management-capability-assessment-model::7.2 · 7.2 Data Management Risk →So that management can make sound decisions, make sufficient cybersecurity expertise available (including external experts), with clear roles across the three lines of defence and a verification mechanism using external experts;
japan-fsa-cybersecurity-guidelines-for-financial-institutions::2.1.1-D · 2.1.1 Basic policy and rules: desirable actions →Questions people ask about three lines of defence
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