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. |