the three line of defences

The three lines of defense are a risk management framework used by organizations to identify, assess, and control risks. These three lines are:

1. First Line of Defense: Operational Management - This level involves the day-to-day managers and their teams, who are directly responsible for identifying, assessing, and mitigating risks as they arise. They also implement the policies, procedures, and controls set by the higher-level management to ensure the smooth functioning of the organization.

2. Second Line of Defense: Risk and Compliance Functions - This level includes specialized departments and teams, such as risk management, compliance, and quality assurance, that support the first line of defense. They provide guidance, tools, and techniques for risk management and ensure that the first line of defense adheres to the organization's policies, processes, and regulatory requirements.

3. Third Line of Defense: Internal Audit - The third line of defense is executed by the internal auditors, who provide independent assurance to the organization's management and board of directors. They assess the effectiveness of the organization's risk management framework, internal controls, policies, and governance processes and offer recommendations for improvement.