General Studies · Three Lines Model
In the 'Three Lines Model' of risk governance, which of the following activities is specifically a core responsibility of the 'second line' functions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Developing, implementing, and monitoring the risk management framework and providing expertise to challenge the first line.✓
- 2Providing independent assurance to the governing body and senior management on the effectiveness of governance.
- 3Establishing the organization's overall risk appetite and strategic direction at the board level.
- 4Owning and managing risks that occur during the day-to-day execution of business operations.
Correct answer
Developing, implementing, and monitoring the risk management framework and providing expertise to challenge the first line.
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