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Third Party Risk Management Best Practices

Third Party Risk Management Best Practices

$199.00
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Third Party Risk Management Best Practices Course Curriculum



Course Overview

This comprehensive course is designed to equip participants with the knowledge and skills necessary to effectively manage third-party risks. Upon completion, participants will receive a certificate issued by The Art of Service.



Course Objectives

  • Understand the principles of third-party risk management
  • Identify and assess third-party risks
  • Develop and implement effective risk mitigation strategies
  • Monitor and review third-party risk management processes


Course Outline

Module 1: Introduction to Third Party Risk Management

  • Definition and importance of third-party risk management
  • Types of third-party risks (e.g. vendor, supplier, partner)
  • Regulatory requirements and industry standards
  • Best practices in third-party risk management

Module 2: Identifying and Assessing Third-Party Risks

  • Risk assessment methodologies (e.g. qualitative, quantitative)
  • Identifying potential risks (e.g. financial, operational, reputational)
  • Assessing risk likelihood and impact
  • Prioritizing risks for mitigation

Module 3: Risk Mitigation Strategies

  • Risk avoidance and risk transfer
  • Risk mitigation and risk acceptance
  • Contractual risk management (e.g. SLAs, indemnification)
  • Due diligence and risk-based monitoring

Module 4: Third-Party Risk Management Processes

  • Risk management frameworks (e.g. NIST, ISO 31000)
  • Risk management policies and procedures
  • Third-party risk management lifecycle (e.g. onboarding, ongoing monitoring)
  • Risk management reporting and escalation

Module 5: Vendor Risk Management

  • Vendor risk assessment and due diligence
  • Vendor contract management
  • Vendor performance monitoring and review
  • Vendor risk mitigation strategies

Module 6: Supplier Risk Management

  • Supplier risk assessment and due diligence
  • Supplier contract management
  • Supplier performance monitoring and review
  • Supplier risk mitigation strategies

Module 7: Partner Risk Management

  • Partner risk assessment and due diligence
  • Partner contract management
  • Partner performance monitoring and review
  • Partner risk mitigation strategies

Module 8: Monitoring and Reviewing Third-Party Risk Management

  • Ongoing risk monitoring and review
  • Risk management metrics and KPIs
  • Risk management reporting and escalation
  • Continuous improvement and risk management maturity

Module 9: Case Studies and Group Exercises

  • Real-world case studies in third-party risk management
  • Group exercises and discussions
  • Hands-on projects and activities


Course Features

  • Interactive and engaging learning experience
  • Comprehensive and up-to-date course content
  • Personalized learning experience
  • Practical and real-world applications
  • High-quality content and expert instructors
  • Certification upon completion
  • Flexible learning options
  • User-friendly and mobile-accessible course platform
  • Community-driven discussion forums
  • Actionable insights and hands-on projects
  • Bite-sized lessons and lifetime access
  • Gamification and progress tracking


Course Benefits

  • Enhanced knowledge and skills in third-party risk management
  • Improved ability to identify and mitigate third-party risks
  • Increased confidence in managing third-party relationships
  • Better decision-making and risk management practices
  • Certification and professional development opportunities
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