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.
An experienced and qualified internationally recognized financial services subject matter expert, consultant, and executive trainer Yiannos has been applying his diverse global business experience to support organizations to achieve their targets by empowering their people through energetic, technical value- adding services.
During his 25-year career Yiannos has held various managerial and executive positions in a Big Four Accountancy firm, as well as a number of multinational companies in Europe and the Middle East in a variety of industries. He was involved in diverse activities ranging from business development to operations and executive management. He structured complex investment funds, lead organizational change, and implemented regulatory programs across international organizations.
In addition to his current role as Financial Services Practice Partner for a global Big Six accountancy firm, Yiannos since 2018 has developed and conducted professional training seminars on a variety of financial topics to corporate teams including most recently in Abu Dhabi, Athens, Bahrain, Cairo, Dharan, Doha, Dubai, Geneva, Kuwait, Luxembourg, and Riyadh.
A qualified Certified Public Accountant, Yiannos also holds advanced degrees in Business Administration MBA, (St John’s University, New York, NY, USA), and a Bachelor of Science – Accounting & Finance (the American College of Greece, Athens). He is also a certified Financial Services Auditor (CFSA, Institute of Internal Auditors) in addition to ACAMS (Association of Anti-Money Laundering Specialists) Certified, and Global Financial Compliance professional by examination.
Yiannos holds non-Executive Directorships in a number of European financial services organizations and is a member of several international professional bodies including as National Advisory Council Board Member of the Chartered Institute of Securities and Investments (CISI) UK. He has been a regular lecturer at the University of Cyprus MBA programme teaching graduate students macroeconomics and other industry-related topics.