Description
Course Overview
In today’s scenario, most of the organizations outsource their services to the third party. Third Party Risk Management simply helps 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.
Course Objectives
At the end of the training, participants are expected to:
Identify third party risks and approach to Third Party Risk Management.
Discuss the components, requirements and approaches to Vendor Risk Management and Service Organization Controls (SOC) Reporting
Target Audience
Procurement Personnel
Compliance Personnel
Legal Personnel
Internal Auditors
Course 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:
Topic 1: Third Party Risk Management (TPRM) Overview
Who is Considered a Third Party?
Framework: What is Third Party Risk Management?
Business Value
Topic 2: Vendor Risk Management (VRM)
Definition
Importance of VRM
Vendor Breach Background
VRM Strategy
Topic 3: Service Organization Controls (SOC) Reporting
Topic 4: TPRM Process
Initial Risk Review
Ongoing Monitoring
Recurring Reviews
Topic 4: TPRM Elements: The 4 RMs
Risk Measurement
Risk Management
Risk Monitoring
Response Management
Ice Breakers/ Quizzes/ Case Studies/ Workshops
Wrap-up/ Summary
Discussion
Schedule:
November 27, 2019 (Wednesday); 8:30 A.M. to 5:00 P.M.
Venue:
Dusit Thani Manila, Ayala Center, Makati City.