Pitfall of Current three Lines of Defence Definition in Financial Service Sector

Doini?a Ciocîrlan ()
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Doini?a Ciocîrlan: Romanian-American University, Romania

REVISTA DE MANAGEMENT COMPARAT INTERNATIONAL/REVIEW OF INTERNATIONAL COMPARATIVE MANAGEMENT, 2017, vol. 18, issue 4, 390-398

Abstract: Current model of three lines of defence used widely in financial, insurance sector and in corporate governance has proven, especially during the financial crisis, not a very efficient. The three lines of defence model has been there for decades to model the interaction between the primary revenue generation and internal controls. Recently it has been shaped slightly differently by the regulators which changed even further the construction of this model. This paper will explore different organizational strategy which is a modification of the embedded three lines of defence model by proposing that all the controls are primarily own by the first line of defence.

Keywords: corporate governance; business strategy; organizational structure; financial institution; risk management. (search for similar items in EconPapers)
JEL-codes: G29 M19 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:rom:rmcimn:v:18:y:2017:i:4:p:390-398

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