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Mastering Third-Party Risk Assessment; A Step-by-Step Guide

Mastering Third-Party Risk Assessment; A Step-by-Step Guide

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Mastering Third-Party Risk Assessment: A Step-by-Step Guide



Course Overview

This comprehensive course is designed to equip participants with the knowledge and skills necessary to effectively assess and manage third-party risks. Through interactive lessons, real-world examples, and hands-on projects, participants will gain a deep understanding of the third-party risk assessment process and develop the skills needed to identify, assess, and mitigate risks associated with third-party relationships.



Course Objectives

  • Understand the importance of third-party risk assessment and management
  • Learn how to identify and assess third-party risks
  • Develop skills to mitigate and manage third-party risks
  • Understand regulatory requirements and industry standards for third-party risk management
  • Learn how to implement a third-party risk management program


Course Outline

Module 1: Introduction to Third-Party Risk Assessment

  • Defining third-party risk assessment
  • Importance of third-party risk assessment
  • Types of third-party risks
  • Regulatory requirements and industry standards

Module 2: Identifying Third-Party Risks

  • Types of third-party relationships
  • Risk assessment methodologies
  • Identifying high-risk third-party relationships
  • Conducting due diligence

Module 3: Assessing Third-Party Risks

  • Risk assessment frameworks
  • Assessing financial risks
  • Assessing operational risks
  • Assessing reputational risks
  • Assessing compliance risks

Module 4: Mitigating and Managing Third-Party Risks

  • Mitigation strategies
  • Contractual arrangements
  • Monitoring and review
  • Termination and exit strategies

Module 5: Implementing a Third-Party Risk Management Program

  • Program governance
  • Risk management policies
  • Procedures and controls
  • Training and awareness
  • Continuous monitoring and review

Module 6: Regulatory Requirements and Industry Standards

  • Overview of regulatory requirements
  • Industry standards and best practices
  • Compliance and reporting requirements

Module 7: Case Studies and Group Discussions

  • Real-world examples of third-party risk assessment and management
  • Group discussions and debates
  • Sharing experiences and best practices

Module 8: Final Project and Assessment

  • Final project: Conducting a third-party risk assessment
  • Assessment and feedback
  • Certificate of Completion


Certificate of Completion

Upon completion of the course, participants will receive a Certificate of Completion issued by The Art of Service.



Course Features

  • Interactive and engaging lessons
  • Comprehensive and up-to-date content
  • Personalized learning experience
  • Expert instructors with industry experience
  • Real-world applications and case studies
  • Hands-on projects and assessments
  • Bite-sized lessons and flexible learning
  • Lifetime access to course materials
  • Gamification and progress tracking
  • Community-driven and mobile-accessible
  • Actionable insights and takeaways


Course Format

The course is delivered online and consists of 8 modules. Each module includes interactive lessons, quizzes, and assessments. The course is self-paced and can be completed in 8 weeks.



Target Audience

The course is designed for professionals who are responsible for managing third-party relationships, including:

  • Risk managers
  • Compliance officers
  • Procurement professionals
  • Contract managers
  • Audit and assurance professionals
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