Pitfall of Current three Lines of Defence Definition in Financial Service Sector
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...
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| Format: | Article |
| Language: | English |
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Editura ASE
2017-10-01
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| Series: | Revista de Management Comparat International |
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| Online Access: | https://www.rmci.ase.ro/no18vol4/04.pdf |
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| author | Doinița CIOCÎRLAN |
| author_facet | Doinița CIOCÎRLAN |
| author_sort | Doinița CIOCÎRLAN |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-76a4ec6bfad545c79dececb6252ca75b |
| institution | OA Journals |
| issn | 1582-3458 2601-0968 |
| language | English |
| publishDate | 2017-10-01 |
| publisher | Editura ASE |
| record_format | Article |
| series | Revista de Management Comparat International |
| spelling | doaj-art-76a4ec6bfad545c79dececb6252ca75b2025-08-20T02:19:30ZengEditura ASERevista de Management Comparat International1582-34582601-09682017-10-01184390398Pitfall of Current three Lines of Defence Definition in Financial Service Sector Doinița CIOCÎRLAN0Romanian-American UniversityCurrent 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. https://www.rmci.ase.ro/no18vol4/04.pdfcorporate governancebusiness strategyorganizational structurefinancial institutionrisk management |
| spellingShingle | Doinița CIOCÎRLAN Pitfall of Current three Lines of Defence Definition in Financial Service Sector Revista de Management Comparat International corporate governance business strategy organizational structure financial institution risk management |
| title | Pitfall of Current three Lines of Defence Definition in Financial Service Sector |
| title_full | Pitfall of Current three Lines of Defence Definition in Financial Service Sector |
| title_fullStr | Pitfall of Current three Lines of Defence Definition in Financial Service Sector |
| title_full_unstemmed | Pitfall of Current three Lines of Defence Definition in Financial Service Sector |
| title_short | Pitfall of Current three Lines of Defence Definition in Financial Service Sector |
| title_sort | pitfall of current three lines of defence definition in financial service sector |
| topic | corporate governance business strategy organizational structure financial institution risk management |
| url | https://www.rmci.ase.ro/no18vol4/04.pdf |
| work_keys_str_mv | AT doinitaciocirlan pitfallofcurrentthreelinesofdefencedefinitioninfinancialservicesector |