Three Lines of Defence: Practical Guidance for Financial Services

Introduction

The Three Lines of Defence (3LoD) framework is the foundational blueprint for risk governance across financial services. However, in day-to-day operations, boundary lines often become blurred. First-line business units can mistakenly view compliance as ‘someone else's job’, second-line over-sight teams risk stepping into operational execution (marking their own homework), and third-line internal audit teams face challenges with audit duplication or lack of clear coverage.

This live, interactive 3-hour session provides practical, real-world guidance on how to operationalise the 3LoD model efficiently. It covers how to define clear functional boundaries, build constructive working relationships across lines, streamline risk reporting and adapt the framework to fit firms of varying size and complexity.

What You Will Learn

This live and interactive course will cover the following:

• The Three Lines Model in Modern Financial Services
• Defining the Boundaries & Core Remits
• First Line: True Ownership & Embedded Controls
• Second Line: Constructive Challenge & Maintaining Independence
• Third Line: Independent & Objective Assurance
• Solving the ‘Small & Mid-Sized Firm’ Dilemma (Proportionality)
• Applying 3LoD to High-Priority Regulatory Themes
• Combined Assurance & Integrated Risk Reporting
• Interactive Scenario Analysis (Real-World Case Studies)
• Diagnostic Toolkit & Interactive Q&A

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.