Provides independent oversight and challenge of risk management/taking activities of LODgovernance, guidance, establishing policy, and monitoring 1st line of defense Ownership, Execution, and Accountability Ownership, strategy, execution, and accountability for identifying, assessing, controlling, mitigating, and communicating risks associated with business processes and decisions 1st line of defense: Consisting of the Business Units (“BU”) and Business Unit Risk Management (“BURM”) and operating at the point at which risks originate, the First Line of Defense has several key responsibilities related to identifying, assessing, controlling, monitoring, and reporting risk.