26 May 2021 at 1600 hrs
Any operation is as strong as its weakest link.
The importance of having staff members capable of identifying and addressing the risk, AML and compliance issues faced by that institution is fundamental for an effective first line of defence. The day-to-day implementation of the Company's risk and compliance frameworks is then subject to the oversight of the second line of defence, which is expected to actively monitor and guide the operating units while reporting to the Board. The overall operations may also be subject to independent scrutiny, through the internal audit function, serving as the third line of defence.
The effectiveness of this model depends on ongoing training, meaningful monitoring and reporting and communication. One should not underestimate the role of the board of directors in steering the organization's systems to achieve these objectives.
Join us on this webinar to discuss how the three lines of defence model can be an effective tool to manage institutional risks.
Moderator
Stephanie Farrugia, Senior Associate
Participants
Catherine Formosa, Senior Associate
James Farrugia, Partner
Marina Grech, Senior Associate
Registration
Participation is free of charge upon registration.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
