Third-Party Risk Management (TPRM)

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 Questionnaire

Lecture 7 – eBook – Third-Party Risk Assessment Checklist

Lecture 12 – eBook – Incident Response Plan Template

Course Structure

Module 1- Introduction

Lecture 1 – Introduction

Module 2 Introduction to Third-Party Risk Management

Lecture 2- Overview of Third-Party Risk Management

Definition of third-party risk management (TPRM)

Importance of TPRM in the modern business landscape

Key components of an effective TPRM program

Lecture 3- Types of Third-Party Risks

Operational risks

Financial risks

Compliance and legal risks

Cybersecurity and data privacy risks

Reputational risks

Lecture 4- The Regulatory Landscape

Overview of global regulations impacting TPRM (GDPR, CCPA, SOX, etc.)

The role of regulatory bodies in third-party oversight

Consequences of non-compliance

Module 3- Building a Third-Party Risk Management Framework

Lecture 5- Developing a TPRM Framework

Key elements of a TPRM framework

Aligning TPRM with organizational objectives and risk appetite

Roles and responsibilities in TPRM

Lecture 6- Third-Party Risk Assessment and Due Diligence

Identifying and categorizing third-party risks

Conducting initial due diligence and background checks

Tools and techniques for risk assessment

Lecture 7- Risk Scoring and Segmentation

Creating a risk scoring model

Segmentation of third parties based on risk profiles

Prioritizing third-party risk management efforts

Module 4- Implementing Third-Party Risk Management Practices

Lecture 8- Contractual Risk Management

Key contractual clauses for managing third-party risks

Service Level Agreements (SLAs) and performance metrics

Negotiating risk-sharing and liability provisions

Lecture 9- Monitoring and Auditing Third Parties

Continuous monitoring of third-party performance

Conducting third-party audits and assessments

Using technology and tools for third-party monitoring

Lecture 10- Managing Cybersecurity and Data Privacy Risks

Understanding cybersecurity threats from third parties

Data privacy considerations and compliance

Best practices for securing third-party data

Module 5- Mitigating and Responding to Third-Party Risks

Lecture 11- Risk Mitigation Strategies

Developing risk mitigation plans

Implementing controls and safeguards

Case studies of successful risk mitigation

Lecture 12- Incident Response and Crisis Management

Preparing for third-party risk incidents

Building an incident response plan

Managing communication and damage control

Lecture 13- Terminating Third-Party Relationships

Identifying when to terminate a third-party relationship

Legal and contractual considerations

Steps for a smooth transition and offboarding

Module 6- Enhancing Third-Party Risk Management Practices

Lecture 14- Continuous Improvement in TPRM

Evaluating the effectiveness of your TPRM program

Leveraging feedback for continuous improvement

Staying updated with evolving risks and regulations

Lecture 15- The Role of Technology in TPRM

Overview of TPRM software and tools

Using data analytics to enhance TPRM

Future trends in TPRM technology

Lecture 16- Building a Risk-Aware Culture

Promoting risk awareness across the organization

Training and educating employees on TPRM

Engaging stakeholders in risk management

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Frequently Asked Questions

How long do I have access to the course materials?

You can view and review the lecture materials indefinitely, like an on-demand channel.

Can I take my courses with me wherever I go?

Definitely! If you have an internet connection, courses on Udemy are available on any device at any time. If you don’t have an internet connection, some instructors also let their students download course lectures. That’s up to the instructor though, so make sure you get on their good side!