Second and Third Lines of Defence During the Pandemic and Looking Ahead


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COVID-19 has proved to be an unprecedented test case for the operational resilience of firms, with particular challenges posed for the second and third lines of defence who respectively need to be able to identify and advise on the risks faced by the firm in this environment and to review firms’ compliance with their obligations during this unique period. Internal audit, compliance and the risk function are ideally placed to provide new insights to senior management on the practical impacts of COVID-19 on the firm’s risk and opportunity landscape, as well as the lessons to be learnt when designing and deploying the control and continuity framework going forward. These exceptional times call for a different set of priorities and an occasion for all functions to use their skills in new ways.

Please join us for a webinar to discuss the practical impacts of COVID-19 on the second and third lines of defence, looking ahead also to the FCA/PRA’s operational resilience initiatives.

In this session we will cover the following:

  • A discussion of the operational challenges and opportunities firms are facing due to COVID-19
  • An overview of some of the (emerging) risks COVID-19 has brought to the fore and how to best mitigate against these
  • Longer term practical implications for organisations based on lessons learnt, and looking ahead as well to the UK’s operational resilience reforms

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