Description
Program Overview
In today’s scenario, most of the organizations outsource their services to a third party. Third Party Risk Management simply help organizations answer critical questions of who am I doing business with, what risks do they pose and how do I successfully manage those risks?
Reducing—if not completely eliminating—the risks of working with third party vendors is a necessary part of your business. If your organization is outsourcing a process, you’ll want to make sure there are safeguards in place that protect your business and vendors.
Performing a risk assessment and implementing a risk management program better helps mange the inherent and recurring risk of that 3rd party and how it may impact / enhance your organization’s process moving forward.
Duration
1-Day Program
Learning Objectives
At the end of the training, participants are expected to:
- Know how to identify third party risks and approach to Third Party Risk Management.
- Be familiar with components, requirements and approaches to Vendor Risk Management
Target Audience
- Procurement Personnel
- Compliance Personnel
- Legal Personnel
- Internal Auditors
- 3rd Party Account Managers
Program Structure and Outline
The Program is delivered using a combination of instructor-led lectures, case study and exercises on practical implementation of the concepts discussed within the training. The topics presented below define the areas of focus under the program:
Time: 8:30am to 12:00pm
Third Party Risk Management Overview
- Who is Considered a 3rd Party?
- Framework: What is 3rd Party Risk Management?
- Global Trends towards 3rd Party Engagements
- Workshop 1: Assessing current 3rd party challenges
Vendor Risk Management
- Definition
- Review of the applicable controls of BSP Circular 808
- Importance of Vendor Risk Management
- Vendor Breach Background
- Strategies for Vendor Risk Management
- Workshop 2: 3rd party Strategic Risk Planning (Enterprise Risk)
Time: 1:15pm to 5:00pm
3rd Party Risk Management Process
- 3rd Party Risk Profiling
- Workshop 3: Identifying 3rd Party Risks
- Ongoing Monitoring & Control Effectiveness
- Risk Appetite and Risk Tolerancing
Elements of the 4 RM’s
- Risk Measurement
- Risk Management
- Risk Monitoring
- Response Management
Resource Speaker:
Mr. Kama Neson Ganeson
CORS, CCP, CSAP, PMP, PMI-RM, CLA ISMS & BCMS, ERMP
Schedule:
July 23, 2024
Tuesday
9:00 AM – 5:00 PM
Training Fee per Participant:
Member Institution – P 2,800.00
Non-Member Institution – P 3,920.00
**VAT inclusive