Third-Party Risk Management (TPRM)

Description

Course Description-
This course provides a comprehensive guide to understanding and managing third-party risks in today’s interconnected business environment. It covers the fundamentals of third-party risk management (TPRM), including identifying, assessing, and mitigating risks associated with vendors, suppliers, and other external partners. Learn how to develop a robust TPRM framework, conduct due diligence, and monitor third-party performance to protect your organization from potential threats.

Downloadable Templates-

Lecture 6 - eBook - Due Diligence Questionnaire

Lecture 7 - eBook - Third-Party Risk Assessment Checklist

Lecture 12 - eBook - Incident Response Plan Template

Course Structure

Module 1- Introduction

Lecture 1 - Introduction

Module 2 Introduction to Third-Party Risk Management

Lecture 2- Overview of Third-Party Risk Management

Definition of third-party risk management (TPRM)

Importance of TPRM in the modern business landscape

Key components of an effective TPRM program

Lecture 3- Types of Third-Party Risks

Operational risks

Financial risks

Compliance and legal risks

Cybersecurity and data privacy risks

Reputational risks

Lecture 4- The Regulatory Landscape

Overview of global regulations impacting TPRM (GDPR, CCPA, SOX, etc.)

The role of regulatory bodies in third-party oversight

Consequences of non-compliance

Module 3- Building a Third-Party Risk Management Framework

Lecture 5- Developing a TPRM Framework

Key elements of a TPRM framework

Aligning TPRM with organizational objectives and risk appetite

Roles and responsibilities in TPRM

Lecture 6- Third-Party Risk Assessment and Due Diligence

Identifying and categorizing third-party risks

Conducting initial due diligence and background checks

Tools and techniques for risk assessment

Lecture 7- Risk Scoring and Segmentation

Creating a risk scoring model

Segmentation of third parties based on risk profiles

Prioritizing third-party risk management efforts

Module 4- Implementing Third-Party Risk Management Practices

Lecture 8- Contractual Risk Management

Key contractual clauses for managing third-party risks

Service Level Agreements (SLAs) and performance metrics

Negotiating risk-sharing and liability provisions

Lecture 9- Monitoring and Auditing Third Parties

Continuous monitoring of third-party performance

Conducting third-party audits and assessments

Using technology and tools for third-party monitoring

Lecture 10- Managing Cybersecurity and Data Privacy Risks

Understanding cybersecurity threats from third parties

Data privacy considerations and compliance

Best practices for securing third-party data

Module 5- Mitigating and Responding to Third-Party Risks

Lecture 11- Risk Mitigation Strategies

Developing risk mitigation plans

Implementing controls and safeguards

Case studies of successful risk mitigation

Lecture 12- Incident Response and Crisis Management

Preparing for third-party risk incidents

Building an incident response plan

Managing communication and damage control

Lecture 13- Terminating Third-Party Relationships

Identifying when to terminate a third-party relationship

Legal and contractual considerations

Steps for a smooth transition and offboarding

Module 6- Enhancing Third-Party Risk Management Practices

Lecture 14- Continuous Improvement in TPRM

Evaluating the effectiveness of your TPRM program

Leveraging feedback for continuous improvement

Staying updated with evolving risks and regulations

Lecture 15- The Role of Technology in TPRM

Overview of TPRM software and tools

Using data analytics to enhance TPRM

Future trends in TPRM technology

Lecture 16- Building a Risk-Aware Culture

Promoting risk awareness across the organization

Training and educating employees on TPRM

Engaging stakeholders in risk management

Who this course is for:

• Risk Management Professionals
• Compliance Officers and Auditors
• Procurement and Vendor Management Professionals
• Business Leaders and Managers
• Legal and Contract Management Professionals
• Anyone Interested in Risk Management