Third Party Risk Management

This is the definitive Third Party Risk Management course for managers who need to build robust vendor governance and ensure DORA EBA compliance.

Your challenge with DORA EBA third party risk requires a structured approach to managing external dependencies. This course will equip you with the frameworks and best practices to identify assess and mitigate risks associated with your third party vendors, ensuring compliance and operational resilience.

Gain the strategic insight to navigate complex vendor landscapes and secure your organization's future.

Master Third Party Risk Management across vendor relationships

This course provides a comprehensive understanding of Third Party Risk Management, focusing on establishing effective governance and strategic oversight across vendor relationships. It is designed for leaders who are accountable for the integrity and security of their organization's external dependencies.

What You Will Walk Away With

• Define and implement a robust Third Party Risk Management framework.
• Identify and assess critical risks associated with third party engagements.
• Develop effective mitigation strategies for identified third party risks.
• Establish clear lines of accountability for vendor oversight.
• Ensure compliance with regulatory requirements such as DORA and EBA.
• Integrate risk management into strategic decision making for vendor selection and management.

Who This Course Is Built For

• Executives and Senior Leaders: To understand the strategic implications of third party risk and ensure robust governance.
• Board Facing Roles: To provide clear insights and assurance on the organization's risk posture related to vendors.
• Enterprise Decision Makers: To make informed choices about vendor partnerships and risk appetite.
• Risk and Governance Professionals: To enhance their expertise in managing complex third party ecosystems.
• Managers: To build and lead effective teams responsible for vendor risk oversight.

Why This Is Not Generic Training

This program goes beyond basic compliance checklists. It focuses on the strategic leadership and governance principles essential for truly effective Third Party Risk Management in complex, regulated environments. You will learn to integrate risk considerations into core business strategy, not just operational processes.

How the Course Is Delivered and What Is Included

Course access is prepared after purchase and delivered via email. This program includes a practical toolkit designed to support your implementation efforts, featuring essential templates, worksheets, checklists, and decision support materials.

Detailed Module Breakdown

Module 1: Foundations of Third Party Risk Management

• Understanding the evolving regulatory landscape (DORA EBA).
• Defining key terms and concepts in third party risk.
• The strategic importance of vendor relationships.
• Establishing a risk aware culture.
• Setting the tone from the top for risk governance.

Module 2: Regulatory Imperatives and Compliance

• Deep dive into DORA and EBA requirements for third party risk.
• Mapping regulatory obligations to your vendor ecosystem.
• Understanding supervisory expectations.
• Consequences of non-compliance.
• Building a compliance driven risk program.

Module 3: Risk Identification and Assessment Frameworks

• Categorizing third party risks (operational, strategic, compliance, financial).
• Developing a comprehensive risk universe.
• Implementing effective risk assessment methodologies.
• Leveraging data for risk identification.
• Prioritizing risks based on impact and likelihood.

Module 4: Vendor Due Diligence and Onboarding

• Establishing robust due diligence processes.
• Key considerations for vendor selection.
• Contractual risk allocation and management.
• Integrating risk into the onboarding process.
• Third party assurance programs.

Module 5: Ongoing Monitoring and Performance Management

• Developing key risk indicators (KRIs).
• Continuous monitoring strategies.
• Performance management and service level agreements (SLAs).
• Incident management and business continuity planning.
• Vendor relationship management best practices.

Module 6: Risk Mitigation and Control Strategies

• Designing effective risk control measures.
• Implementing security and data protection controls.
• Third party access management.
• Cybersecurity resilience for vendors.
• Operational resilience in the supply chain.

Module 7: Governance and Oversight Structures

• Establishing clear roles and responsibilities.
• The role of the board and senior management.
• Developing a Third Party Risk Management policy.
• Committee structures and reporting lines.
• Internal audit's role in vendor risk.

Module 8: Third Party Audits and Assurance

• Planning and executing third party audits.
• Understanding SOC reports and other attestations.
• Leveraging third party assurance providers.
• Assessing control effectiveness.
• Remediation of audit findings.

Module 9: Exit Strategies and Vendor Lifecycle Management

• Planning for vendor termination and transition.
• Data security during exit.
• Ensuring continuity of services.
• Managing multiple vendor relationships.
• Building a resilient vendor ecosystem.

Module 10: Emerging Risks and Future Trends

• Geopolitical risks and supply chain disruptions.
• The impact of AI and new technologies on vendor risk.
• ESG considerations in vendor management.
• Building agility and adaptability in vendor risk.
• The future of Third Party Risk Management.

Module 11: Crisis Management and Business Continuity

• Developing third party specific crisis plans.
• Testing and exercising crisis response.
• Communication strategies during incidents.
• Ensuring supply chain resilience.
• Post-crisis review and lessons learned.

Module 12: Driving a Risk Aware Culture

• Leadership accountability for vendor risk.
• Communicating risk effectively across the organization.
• Training and awareness programs for stakeholders.
• Embedding risk management into daily operations.
• Continuous improvement of the risk program.

Practical Tools Frameworks and Takeaways

This course provides a practical toolkit that includes implementation templates, worksheets, checklists, and decision support materials. These resources are designed to help you apply the learned concepts directly to your organization's specific needs, accelerating your ability to build and mature your Third Party Risk Management program.

Immediate Value and Outcomes

Upon successful completion of this course, a formal Certificate of Completion is issued. This certificate can be added to your LinkedIn professional profiles, evidencing your leadership capability and commitment to ongoing professional development in critical areas of Risk and Governance. You will gain the confidence and expertise to effectively manage risks across vendor relationships, ensuring your organization's resilience and compliance.

Frequently Asked Questions