Organizations need to implement effective structures and processes to enable the achievement of objectives, while supporting strong governance and risk management. As the governing body receives reports from management on activities, outcomes, and forecasts, both the governing body and management rely on the 2nd and 3rd lines to provide challenge, assurance and advice on all matters and to promote and facilitate innovation and improvement.
The governing body is ultimately accountable for governance, which is achieved through a framework of actions and behaviors. The Institute of Internal Auditors in July 2020 published their revised paper on the 3 lines model replacing the previously well-known and used 3 lines of defense. The revised Three Lines Model helps organizations identify structures and processes that best assist the achievement of objectives and facilitate strong governance and risk management.
This course takes delegates systematically through each of the revised requirements to enable them to consider the actions that they would need to take in practice.
By the conclusion of this event delegates will have gained a thorough understanding of:
The revised 3 lines model provides clarity to management in appreciating the different responsibilities of the 1st and 2nd lines and how this adds value to an organization. It ensures that the 1st line takes responsibility for their actions and that the 2nd line adds value to the organization.
The biggest change is in the approach to be taken to compliance whose role is broadening to ensure that all matters are addressed within the 2nd line, providing assurance to the Board. This course provides a complete analysis of what this is likely to mean to your firm and how it aligns to operational resilience requirements, ensuring the governing body have the assurance that they require that all matters are properly reviewed and approved.
Dennis is the Chief Executive of Risk Reward Ltd, where he oversees all consulting and training projects. A UK Chartered Accountant and internationally recognized financial services risk management, compliance, internal audit and financial crime expert, he specializes in the interdisciplinary forward-looking impact of and opportunities of regulation, digital technologies, and the challenges surrounding credit, market, liquidity/treasury and operational risk, as well as successful compliance implementation techniques and model validation assessment, robustness and best practise.
He has more than 30 years of experience in the areas of risk, banking, financial crime, audit, and accounting having held senior management positions within the banking and accountancy profession as Head of Internal Investigations at HSBC Global Bank, Director, Risk Management at HSBC Insurance Brokers Limited, and Director, Risk Management, Prudential Portfolio Managers. Formerly he held a number of roles within the audit profession, Managers. Formerly he held a number of roles within the audit profession, including Senior Audit Manager (Compliance) at HSBC Holdings PLC and Senior Manager (Banking and Finance) at both BDO Binder Hamlyn and Arthur Young (now Arthur Anderson and Ernst & Young).
He is a Fellow, Co-founder and Chairman of the Risk Forum for the UK Chartered Securities and Investment Institute and administers the Risk Reward Global Risk Forum on LinkedIn. A Fellow of the Institute of Chartered Accountants (FCA), he has also been a National Council Member for 17 years and a representative of the public as Council Member of the Institute of Actuaries (Insurance) for 10 years. He teaches the Global Financial Compliance; Combatting Final Crime and the Conduct Risk courses as examination preparation for certification by the CISI.
He holds an honours degree in Mathematics from the London University Westfield College.