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Course Overview

As organizations increasingly rely on third parties and vendors for critical operations, the risks associated with outsourcing and external dependencies have grown significantly. Issues such as non-compliance, cyber vulnerabilities, reputational risks, and supply chain disruptions can arise if vendor relationships are not properly governed.

This Managing Third-Party and Vendor Risks Training Course provides participants with frameworks and strategies to assess, monitor, and mitigate vendor-related risks. The course explores due diligence practices, contract compliance, ongoing monitoring, and the use of technology to enhance third-party governance.

Through case studies, scenario analysis, and interactive workshops, participants will learn how to build vendor risk management programs that align with enterprise risk frameworks and regulatory requirements.

Course Benefits

• Strengthen third-party and vendor oversight frameworks.

• Learn best practices for supplier due diligence and onboarding.

• Improve monitoring of vendor performance and compliance.

• Mitigate risks of outsourcing, supply chain, and cyber exposure.

• Build long-term resilience through vendor governance.

Course Objectives

• Define and categorize third-party and vendor risks.

• Apply due diligence and vendor selection methodologies.

• Develop monitoring and reporting frameworks for vendors.

• Ensure compliance with regulatory and contractual obligations.

• Use technology to enhance vendor risk monitoring.

• Integrate third-party risk into enterprise risk management.

• Build a culture of accountability in vendor relationships.

Training Methodology

The course combines expert-led lectures, real-world case studies, compliance simulations, and group workshops. Participants will practice vendor risk assessments and monitoring through applied exercises.

Target Audience

• Supply chain and procurement managers.

• Risk and compliance officers.

• Vendor and third-party governance professionals.

• Executives responsible for operational resilience.

Target Competencies

• Third-party risk assessment.

• Vendor compliance monitoring.

• Outsourcing governance.

• Supplier relationship management.

Course Outline

Unit 1: Introduction to Third-Party and Vendor Risk Management

• Defining vendor and third-party risks.

• Categories of risks: compliance, cyber, reputational, financial.

• Lessons from third-party risk incidents.

• Regulatory expectations for vendor oversight.

Unit 2: Due Diligence and Vendor Selection

• Vendor onboarding and pre-contract assessments.

• Tools for financial, legal, and compliance due diligence.

• Screening for sanctions, ethics, and ESG risks.

• Case study: vendor selection failures.

Unit 3: Contracting and Compliance Controls

• Structuring contracts for risk and compliance.

• Service level agreements (SLAs) and performance clauses.

• Monitoring contractual compliance.

• Managing legal and cross-border vendor risks.

Unit 4: Ongoing Vendor Monitoring and Risk Mitigation

• Building frameworks for continuous monitoring.

• Assessing vendor performance and compliance.

• Tools for managing cyber and data risks.

• Responding to vendor-related incidents.

Unit 5: Building Resilient Vendor Governance Programs

• Integrating vendor risks into enterprise risk management.

• Leveraging technology for vendor oversight (AI, automation).

• Communicating risks to boards and stakeholders.

• Future trends in third-party and vendor risk management.

Ready to strengthen vendor and third-party governance?
Join the Managing Third-Party and Vendor Risks Training Course with EuroQuest International Training and ensure resilience, compliance, and trusted supplier partnerships.