Understanding the Three Lines of Defense Model in Risk Management

The Three Lines of Defense (3LOD) Model, introduced by the Institute of Internal Auditors in 2013, offers a structured approach to risk management by dividing responsibilities into three distinct levels. This model helps organizations identify, manage, and mitigate risks by defining clear roles and addressing issues like unmanaged risks and coverage gaps. Its flexible framework can be adapted to different organizational sizes, providing a comprehensive view to manage risks more effectively.
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Why Compliance Officers Should Prioritize Benchmarking for Program Success

Compliance benchmarking involves evaluating a company's compliance program by comparing it to industry standards, peer organizations, and regulatory expectations. It helps identify strengths and weaknesses by analyzing policies, risk controls, and resource allocation. The goal is to improve the compliance function, ensuring it evolves with emerging risks and regulatory changes.
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