The End of the Beginning, Not the Beginning of the End: The Future of Non-Financial Risk & Controls across the 3 Lines
The 1st line owns non-financial risk, however the 2nd and 3rd lines struggle to keep pace the changes, resulting in duplication, control-testing fatigue and persistent data challenges. What is needed is fewer box-ticking controls, more common taxonomies and shared data so that everyone is managing risk, not just producing evidence.
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