Navigating Changing Dynamics of First Line Risk and Control Functions
An organization’s overall risk governance framework and the resulting interaction across the three lines of defense are critical to business success. The first line’s main objective is to understand applicable risks and controls and ultimately drive growth through customer engagement. The second and third lines provide the consistence and oversight needed to ensure risk and compliance directives are met.
In this article, we share Protiviti’s perspective in line with results from a recent survey of business risk and control function leaders on their evolving roles, organizational alignment, testing challenges, automation, etc.