Examples of Second Line in a sentence
GIA provides independent assurance of the effectiveness of management’s control of its own business activities (the First Line) and of the processes maintained by the Risk Control Functions (the Second Line).
Second Line of Defence – The Risk Management Function is responsible for proposing to the Board appropriate objectives and measures to define the Company’s risk appetite and for devising the suite of policies necessary to control the business including the overarching framework and for independently monitoring the risk profile, providing additional assurance where required.
Integral to the mission of Second Line of Defence is identifying risk areas, detecting situations/activities in need of monitoring and developing policies to formalise risk assessment, mitigation and monitoring.
Integral to the mission of Second Line of Defence is identifying risk areas, detecting situations/activities, in need of monitoring and developing policies to formalise risk assessment, mitigation and monitoring.
The Second Line of Defence (“2nd LoD”) are all the independent risk and control infrastructure functions.