Creating and Implementing an Effective Third-Party Risk Management (TPRM) Program | Summer 2024

Course Description:

Upon completing this course, participants should be proficient in designing, implementing, and managing a TPRM program that aligns with business objectives and adheres to regulatory requirements. They will have the skills to assess risks, perform due diligence, manage incidents, and continuously improve upon their TPRM practices.

Course Information

Difficulty: Intermediate

Tracks:

Categories:

Who is this course for?

  • Anyone responsible for managing Third Party relationships (or looking to manage) in their organization
  • Risk Management Professionals
  • Compliance Officers

Why choose this course?

  1. Course Benefit: Ability to design, implement, and manage a TPRM program that aligns with business objectives and adheres to regulatory requirements
  2. Course Benefit: Ability to assess risks, perform due diligence, and manage incidents
  3. Course Benefit: Ability to continuously improve upon TPRM Practices

Introduction to Third Party Risk Management

Overview of TPRM
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Regulatory Environment and Compliance Requirements
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Business Strategies and Third Party Relationships  
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Workshop
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Planning a TPRM Program 

Scopes and Objectives of a TPRM Program 
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TPRM Methodology
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Creating a TPRM Roadmap
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Workshop
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Team Project
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Aligning TPRM Objectives with Business Strategies

Establishing Risk Tolerance Levels
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Setting Your TPRM Program in line with Organizational Objectives 
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Workshop
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Risk Assessment and Analysis

Identifying and Categorizing Third Parties 
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Conducting Risk Assessments
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Qualitative and Quantitative Risk Assessment Methods
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Risk Assessment Tools
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Team Project
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Due Diligence and Monitoring

Due Diligence Fundamentals and Standards
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Due Diligence Processes and Best Practices
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Information Gathering and Verification Techniques 
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Ongoing Monitoring, Review and Red Flags
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Workshop
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Contracting

Types of Contracts in Third Party Relationships
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Key Contractual Clauses in Risk Management 
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Negotiation Strategies for Risk Management 
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Performance Metrics and SLAs
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Contract Lifestyle Management
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Workshop 
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Team Project
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Managing Third Party Relationships

Relationship Management Strategies
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Communication and Performance Management
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Escalation Procedures
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Workshops
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Continuous Improvement and TPRM Maturity 

Metrics and KPIs for TPRM Effectiveness
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TPRM Program Review and Audit Techniques
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Evolving the TPRM Program with Business Changes  
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Emerging Trends and Future Directions in TPRM
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Workshop
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Team Project
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Capstone Project

Report
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Presentation
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Hands On Application
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