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Third Party Risk Management; A Complete Guide

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Third Party Risk Management: A Complete Guide



Course Overview

In this comprehensive course, participants will gain a thorough understanding of third-party risk management (TPRM) principles, practices, and tools to identify, assess, mitigate, and monitor risks associated with third-party relationships.

Upon completion of this course, participants will receive a certificate issued by The Art of Service.



Course Features

  • Interactive and engaging content
  • Comprehensive and personalized learning experience
  • Up-to-date and practical information
  • Real-world applications and case studies
  • High-quality content developed by expert instructors
  • Certification upon completion
  • Flexible learning options
  • User-friendly and mobile-accessible platform
  • Community-driven discussion forums
  • Actionable insights and hands-on projects
  • Bite-sized lessons and lifetime access
  • Gamification and progress tracking features


Course Outline

Module 1: Introduction to Third-Party Risk Management

  • Defining third-party risk management
  • Importance of TPRM in today's business environment
  • TPRM frameworks and standards
  • Regulatory requirements and compliance

Module 2: Identifying and Assessing Third-Party Risks

  • Risk identification techniques
  • Risk assessment methodologies
  • Third-party risk categorization and prioritization
  • Assessing third-party risk profiles

Module 3: Mitigating and Managing Third-Party Risks

  • Risk mitigation strategies
  • Contract negotiation and management
  • Third-party relationship management
  • Continuous monitoring and review

Module 4: Third-Party Risk Management Frameworks and Tools

  • TPRM frameworks (e.g., COSO, ISO 31000)
  • TPRM tools and technologies (e.g., GRC, IRM)
  • Data analytics and reporting
  • Integration with existing risk management systems

Module 5: Third-Party Risk Management Best Practices

  • Establishing a TPRM program
  • Defining roles and responsibilities
  • Developing policies and procedures
  • Training and awareness programs

Module 6: Case Studies and Real-World Applications

  • Industry-specific TPRM challenges and solutions
  • Success stories and lessons learned
  • TPRM in emerging technologies (e.g., AI, blockchain)
  • Future of TPRM and evolving trends

Module 7: Certification and Final Assessment

  • Final exam and assessment
  • Certificate issuance and maintenance
  • Continuing professional development
  • TPRM community and networking opportunities


Course Format

This course is delivered online, with interactive lessons, quizzes, and hands-on projects. Participants can access the course materials and complete the coursework at their own pace.



Course Duration

The course duration is approximately 80 hours, including all coursework, quizzes, and final assessment.



Target Audience

This course is designed for professionals involved in third-party risk management, including:

  • Risk managers
  • Compliance officers
  • Procurement and sourcing professionals
  • Contract managers
  • Internal auditors
  • External auditors
  • Regulatory professionals


Prerequisites

There are no prerequisites for this course, although prior knowledge of risk management principles and practices is recommended.

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