Leading from the Top: Maximizing the Three Lines of Defense for Risk Management Program Success - Webinar Recording
Speaker
Ann D. Gaffey, RN, MSN, CPHRM, DFASHRM - President, Healthcare Risk and Safety Strategies, LLC, Barbara McCarthy RN, MPH, CPHQ, CPHRM, DFASHRM - Enterprise Risk Officer, Beth Israel Lahey Health
Description
Risk leaders are well-positioned to identify and help align resources across the Three Lines of Defense, a model that addresses specific duties related to risk management and internal control. This allows the organization to prevent duplication of efforts, maximize resiliency, encourage transparency, and respond to an increasingly complex healthcare business environment. Everyone in the organization has a role in managing risk from day-to-day ownership of operations, to programmatic oversight, to checks-and-balances for compliance. The Three Lines of Defense model differentiates the responsibilities that should be expected from each function. Most organizations have a strength or weakness in one or more lines of defense which may adversely impact the risk profile of the organization. The risk management leader has the opportunity to identify these weaknesses and leverage the strengths. The goal of this program is to discuss the Three Lines of Defense model, its alignment with the COSO ERM framework, and to prepare the risk manager to analyze the capabilities of each function to maximize risk management program success. Provider approved by the California Board of Registered Nursing, Provider number 12205 for 1 contact hour.
Learning Objectives
At the end of the webinar, the participant should be able to:
- Distinguish between the three lines of defense as part of a successful risk management program
- Perform a SWOT analysis of their organization’s three lines of defense
- Execute two strategies to leverage the strength of each line of defense as part of a mature ERM program