The 3 lines of Defence model is no more – abandoned by the IIA in July 2020. Is there a credible alternative?
Chris Burt, co-founder of the Risk Coalition, will discuss why a risk model designed to prevent recurrence of the failures in risk management, which took place prior to the GFC of 2007-8, has been in need of a major overhaul for many years. He will elaborate on an objective centric model to replace conventional risk management approaches.
Peter Neville Lewis will provide an overview of a proposed Integrated Assurance model, which links the reporting of the 3 Lines more closely, to present the Board with more holistic oversight of the risk/certainty of achieving strategic objectives and creating/preserving value.
Chris Burt is the principal of Halex Consulting and a co-founder of the Risk Coalition, thought leaders in risk governance and publishers of the acclaimed risk guidance Raising the Bar. He focuses on working with boards and executive management, and has over 25 years’ experience delivering governance, risk management and assurance consultancy (including S166 work) to leading UK and European businesses. He is a Fellow of the Institute of Chartered Accountants in England & Wales and holds a degree in Industrial Economics from the University of Nottingham and a masters in secure e-commerce from Royal Holloway, University of London.
Chris qualified as a Chartered Accountant with KPMG where he specialised in technology risk and information security (cyber) consulting, later extending his expertise into enterprise risk management and internal audit consulting with Deloitte. He then worked for several years with a highly regarded London-based boutique governance consultancy, first as a senior associate and then as a partner.
Peter Neville Lewis is the principal of Principled Consulting, a practical think tank for behavioural change and values based decision-making and also a co-founder of the Risk Coalition. He is a highly experienced business adviser to boards and senior management teams with over 30 years’ practical delivery at Managing Director level himself, specialising in principled leadership, governance, culture, strategic and conduct risk. He is a Chartered Member of the Institute of Risk Management (CMIRM). He currently holds the post of Honorary Research Fellow at Brunel University London.
Joint author of numerous publications on the measurement and impact of culture for IRM, CMI, EOA, ERMC, ProShare etc.
Peter originally trained at The Royal Military Academy, before working in the City and then establishing his own business which was eventually purchased by a PLC. His interest in behavioural psychology dates back over 25 years and he is a licenced practitioner in various psychometric instruments.