Three lines of defence practice benchmark
- 11 September 2020
Exploring the 3LOD in operational risk management
The three lines of defence (3LOD) is an accepted model for an effective risk management system. It is used widely because, in theory, it provides a standardised, comprehensive risk management process that should clarify roles, reduce cost and reduce effort. However, the reality often differs from the theory.
In this practice benchmark, we'll help you understand how the three lines of defence model is implemented in practice, its challenges and what best-practice might look like.
Understand how 3LOD works in practice
This practice benchmark will help you understand how three lines of defence works in reality across the industry, how companies may adapt the structure to meet their own requirements and how the model may evolve in the future.
Through webinars and roundtable meetings you'll have the chance to discuss aspects three lines of defence in detail with fellow operational and non-financial risk professionals.
One of the main benefits of ORX practice benchmarks is the chance to see how your firm specifically compares to others in the industry. If you take part, you'll receive a customised benchmark report showing your three lines of defence practice against the other participants.
What will I get from the practice benchmark?
Sign up for this practice benchmark has now closed. If you've already registered to take part, then your organisation will receive:
- A summary report showing current industry practice and future evolution
- A set of case studies of current and future practice
- An individual customised benchmark report showing your 3LOD practice against your peers
You'll also get the chance to discuss various aspects of the practice benchmark in more detail through a series of roundtables and webinars.
About ORX practice benchmarks
The ORX practice benchmark series explores specific areas of operational and non-financial risk practice in detail. It helps you understand what is standard practice across the industry, what areas you're ahead your peers in and where you could improve.
We've already conducted a number of practice benchmarks. Whether you're a member of ORX or not, you can request an individual report for any of the benchmarks we've carried out at any time.