Training course on Vendor Risk Management

Module 1: Introduction to Vendor Risk Management

Definition, scope, and objectives

Importance of vendor risk management in organizational resilience

Regulatory requirements and industry standards

Module 2: Types of Vendor Risks

Operational, financial, strategic, and reputational risks

Cybersecurity and data privacy risks

Third-party compliance and ethical risks

Module 3: Vendor Selection and Due Diligence

Vendor evaluation criteria

Performing risk assessments and background checks

Financial and operational due diligence

Module 4: Risk Mitigation Strategies

Contractual safeguards and service-level agreements (SLAs)

Insurance and indemnity considerations

Business continuity planning and contingency measures

Module 5: Vendor Monitoring and Performance Management

Key performance indicators (KPIs) for vendors

Ongoing risk monitoring and reporting

Audit and review processes

Module 6: Regulatory Compliance and Reporting

Understanding relevant regulations and guidelines (e.g., Basel, ISO, GDPR)

Documenting compliance activities

Reporting to management and regulators

Module 7: Incident Management and Vendor Exit Strategies

Responding to vendor failures or breaches

Escalation procedures and crisis management

Offboarding and transitioning vendors safely

Module 8: Building a Vendor Risk Management Framework

Developing policies, procedures, and governance structures

Integrating vendor risk management into enterprise risk management

Continuous improvement and lessons learned

Module 9: Case Studies and Practical Exercises

Real-world examples of vendor risk failures

Group exercises: risk assessment, mitigation planning, and monitoring

Role-playing scenarios for incident management