Overview

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 QuestionnaireLecture 7 - eBook - Third-Party Risk Assessment ChecklistLecture 12 - eBook - Incident Response Plan TemplateCourse StructureModule 1- IntroductionLecture 1 - IntroductionModule 2 Introduction to Third-Party Risk ManagementLecture 2- Overview of Third-Party Risk ManagementDefinition of third-party risk management (TPRM)Importance of TPRM in the modern business landscapeKey components of an effective TPRM programLecture 3- Types of Third-Party RisksOperational risksFinancial risksCompliance and legal risksCybersecurity and data privacy risksReputational risksLecture 4- The Regulatory LandscapeOverview of global regulations impacting TPRM (GDPR, CCPA, SOX, etc.)The role of regulatory bodies in third-party oversightConsequences of non-complianceModule 3- Building a Third-Party Risk Management FrameworkLecture 5- Developing a TPRM FrameworkKey elements of a TPRM frameworkAligning TPRM with organizational objectives and risk appetiteRoles and responsibilities in TPRMLecture 6- Third-Party Risk Assessment and Due DiligenceIdentifying and categorizing third-party risksConducting initial due diligence and background checksTools and techniques for risk assessmentLecture 7- Risk Scoring and SegmentationCreating a risk scoring modelSegmentation of third parties based on risk profilesPrioritizing third-party risk management effortsModule 4- Implementing Third-Party Risk Management PracticesLecture 8- Contractual Risk ManagementKey contractual clauses for managing third-party risksService Level Agreements (SLAs) and performance metricsNegotiating risk-sharing and liability provisionsLecture 9- Monitoring and Auditing Third PartiesContinuous monitoring of third-party performanceConducting third-party audits and assessmentsUsing technology and tools for third-party monitoringLecture 10- Managing Cybersecurity and Data Privacy RisksUnderstanding cybersecurity threats from third partiesData privacy considerations and complianceBest practices for securing third-party dataModule 5- Mitigating and Responding to Third-Party RisksLecture 11- Risk Mitigation StrategiesDeveloping risk mitigation plansImplementing controls and safeguardsCase studies of successful risk mitigationLecture 12- Incident Response and Crisis ManagementPreparing for third-party risk incidentsBuilding an incident response planManaging communication and damage controlLecture 13- Terminating Third-Party RelationshipsIdentifying when to terminate a third-party relationshipLegal and contractual considerationsSteps for a smooth transition and offboardingModule 6- Enhancing Third-Party Risk Management PracticesLecture 14- Continuous Improvement in TPRMEvaluating the effectiveness of your TPRM programLeveraging feedback for continuous improvementStaying updated with evolving risks and regulationsLecture 15- The Role of Technology in TPRMOverview of TPRM software and toolsUsing data analytics to enhance TPRMFuture trends in TPRM technologyLecture 16- Building a Risk-Aware CulturePromoting risk awareness across the organizationTraining and educating employees on TPRMEngaging stakeholders in risk management

Skills

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