Abstract: The authors of the paper analyze risk management processes contained in the model considering its longstanding application in many European organisations. The paper also analyses quality management system (QMS) standards and risk management (RM) standards. It particularly addresses the process approach to QMS which, when coupled with active involvement of employees and constant improvements, makes this approach interesting as the topic of this paper. The analyses herein resulted in integrating the process approach in the "Three Lines of Defence" model with the primary objective of the model strengthening. This is to be achieved by integrating "process owner" and "risk owner" in one person or one management team in any process with its own risk.
Keywords: Process, Risk, Process Owner, Risk Owner, Three Lines of Defence
Recieved: 14.03.2015 Accepted: 23.05.2015 UDC: 332.05