Third Party and Vendor Risk Management Framework

Course objectives

• Classify third parties by risk tier using an objective assessment methodology
• Conduct onboarding due diligence covering financial, operational and integrity risk
• Design contractual controls and service level agreements that enforce accountability
• Establish ongoing monitoring for critical vendors including fourth party exposure
• Build exit and contingency plans for critical third party relationships

Who should attend

• Procurement and vendor management leaders
• Operational risk and outsourcing risk managers
• Compliance officers overseeing third party programmes
• Internal auditors reviewing supplier arrangements
• Legal counsel drafting vendor contracts

Course outline

1. 01The expanding third party risk perimeter in African organisations
2. 02Risk tiering and classification methodology
3. 03Onboarding due diligence across financial, operational and integrity risk
4. 04Contractual controls, service level agreements and right to audit clauses
5. 05Ongoing monitoring, reassessment and fourth party risk
6. 06Exit planning and contingency arrangements for critical vendors

Scheduled sessions