BUSINESS LINE MANAGEMENT

1st LINE DEFENCE

• Minimal overhead in capturing/ evidencing of control status.

• Workflow to track actions when controls fail. 

• Ease of producing real-time reports. 

QUANTITIVE

• Typically, reduce headcount depending on size and maturity of business line

BENEFITS OF RISK REDUCTION

• Less risk of costly control remediation programmes

• Fewer audit points

• Information easy to access and in one place.

• Allows proper oversight & assessment of control effectiveness. 

QUANTITIVE

• Typically, reduce headcount depending on size and maturity of 2nd line oversight function

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BENEFITS OF RISK REDUCTION

• Reduction in operational losses

• Simplifies audit process as single source of information. 

• View the risk / control status with associated evidence and actions. 

QUANTITIVE

• Unlikely to result in a FTE saving but quality of audits will be better  

BENEFITS OF RISK REDUCTION

• Reduced fines

• Reduced regulatory scrutiny

• Reduced capital requirement