Training Course Syllabus:

Objectives of the Presentation

Define aspects of Third Party Service Provider Risk (TPSP)
Recognize indicators that help management and Board of Directors oversee management
Learn new approaches to understanding TPSP risk
Link data and data tools, like Analytics and GRC, to TPSP management
Gain an understanding of why regulators and stakeholders are more focused on risk management of third parties
Discover ways to design monitoring and reporting processes that deliver value

Why Should you Attend

Have you ever wanted to understand more about Third Party Service Providers and the associated risks? Do you think that by using third party service providers you no longer have to deal with certain process risks? Then this session, designed to clear away the confusion linked to definitions and management of third party risk, is a must. During the hour presentation participants will discover a practical way to understand the full scope of Third Party Service Provider (TPSP) risks. Then building on that understanding learns techniques on how to monitor report and educate stakeholders on proper risk management processes. Integration of data analytics and GRC provide strong support for gaining an understanding of TPSP risks, monitoring aspects of those risks, and reporting to stakeholders. This session is targeted to those who want to leverage data and risk tools to new levels of influence and organizational contribution.

Areas Covered

Defining "Third Party Service Provider" risks
New dimensions on understanding TPSP risk and risk management
Developing KPI´s and KRI´s
Developing monitoring processes
Risk events triggering management process
Regulator focus on TPSP risk for regulated institutions
Review steps for analyzing TPSP risks
Tips for risk recognition

Topic Background

With more and more companies relying on outside service providers it is imperative that management understand the risks associated with outsourcing certain processes or utilizing third party service providers. Regulators in all industry segments are focused on ensuring that proper controls exist in this area as it has no become a very common practice because it saves costs and allows expertise to be assigned to key business processes.

Seminar Summary:

This webinar explores the components of third party service provider risk. Developing a common understanding and definition of third party service provider risks, the participant will form a comprehensive base upon which meaningful review and interaction with senior management can occur. The session introduces a holistic way of looking at risks associated with third party service providers so that Boards of Directors, Senior Managers and other organizational leaders will develop and demonstrate thoughtful process behind this meaningful and valid way of competing in today's business world. (see full course description)

print this agenda