Third-Party Risk Management (TPRM) Deep Dive Course
No-Limit Tech Provides This TPRM Course
Third-Party Risk Management (TPRM) Deep Dive Course
Dive deep into the world of Third-Party Risk Management with our comprehensive TPRM Deep Dive Course. This hands-on training is designed to equip you with the knowledge and skills necessary to excel in the TPRM space. Whether you’re new to TPRM or looking to enhance your expertise, this course will provide you with practical insights and real-world applications.
- Saturdays and Sundays: 11 AM - 1 PM
- Wednesdays: 7 PM - 8 PM
- Instructor: Olu Balogun
- Duration: 4-5 Weeks
- Fee: $900
- Platform: Zoom

Overview of Third-Party Risk Management (TPRM) and Governance, Risk, and Compliance (GRC)
Introduction
Welcome to the introduction to Third-Party Risk Management (TPRM) and Governance, Risk, and Compliance (GRC). This session is designed for students who are new to TPRM and GRC, providing a foundational understanding before we dive deeper into the specific aspects of TPRM.
What is Governance, Risk, and Compliance (GRC)?
Governance, Risk, and Compliance (GRC) is an integrated approach that ensures an organization’s adherence to regulatory requirements, management of risks, and implementation of effective governance practices. GRC encompasses:
- Governance: Establishing frameworks, policies, and procedures to ensure organizational objectives are met, ethical conduct is promoted, and stakeholder interests are protected.
- Risk Management: Identifying, assessing, and mitigating risks that could impact the organization’s ability to achieve its objectives.
- Compliance: Ensuring adherence to laws, regulations, industry standards, and internal policies.
The Importance of GRC
- Regulatory Adherence: Helps organizations comply with legal and regulatory requirements, avoiding penalties and legal issues.
- Risk Mitigation: Identifies and mitigates risks that could disrupt business operations or harm the organization’s reputation.
- Operational Efficiency: Streamlines processes and improves decision-making through structured governance frameworks.
- Reputation Management: Protects and enhances the organization’s reputation by promoting ethical conduct and transparency.
What is Third-Party Risk Management (TPRM)?
Third-Party Risk Management (TPRM) is a subset of GRC that focuses on identifying, assessing, and mitigating risks associated with third-party vendors, suppliers, and partners. TPRM ensures that third parties meet the organization’s security, compliance, and operational standards.
Why is TPRM Important?
- Data Protection: Ensures that third parties handle sensitive data appropriately and protect it from breaches.
- Regulatory Compliance: Helps organizations comply with regulations that require oversight of third-party relationships (e.g., GDPR, CCPA).
- Operational Continuity: Mitigates risks that could disrupt business operations due to third-party failures or breaches.
- Reputation Management: Protects the organization’s reputation by ensuring third parties adhere to ethical and legal standards.
Key Concepts in TPRM
- Vendor: An external entity that provides goods or services to an organization.
- Third-Party Risk: The potential for loss or harm resulting from a third party’s actions or failures.
- Due Diligence: The process of investigating and evaluating a vendor’s risk profile before entering into a business relationship.
- Risk Assessment: Evaluating the risks associated with a third party, including financial, operational, and security risks.
- Monitoring: Continuously overseeing third-party activities to ensure compliance and manage emerging risks.
The TPRM Lifecycle
- Identification: Identifying all third-party vendors and their associated risks.
- Assessment: Evaluating the risks posed by each vendor through due diligence and risk assessments.
- Mitigation: Implementing measures to reduce or eliminate identified risks.
- Monitoring: Continuously monitoring vendors to ensure ongoing compliance and risk management.
- Termination: Properly ending the relationship with a vendor when necessary, ensuring a smooth transition and minimal disruption.
TPRM Tools and Techniques
- Risk Assessment Tools: Software and methodologies used to evaluate vendor risks (e.g., questionnaires, surveys).
- Monitoring Tools: Platforms that provide continuous oversight of vendor activities and compliance (e.g., Prevalent, SecurityScorecard).
- Incident Response Plans: Procedures for addressing vendor-related incidents and breaches.
- Compliance Checklists: Lists of regulatory and internal compliance requirements that vendors must adhere to.
Benefits of Effective TPRM
- Enhanced Security: Protects sensitive data and reduces the risk of breaches.
- Regulatory Compliance: Ensures adherence to relevant laws and regulations.
- Improved Vendor Relationships: Fosters trust and collaboration with vendors.
- Operational Resilience: Minimizes disruptions and ensures business continuity.
Conclusion
Understanding the basics of GRC and TPRM is crucial for managing third-party relationships effectively. By implementing robust TPRM practices, organizations can safeguard their operations, comply with regulations, and maintain their reputation.
Zoom Meeting Details
Zoom Link: Will be Shared After Purchasing Course
Meeting ID: Will be Shared After Purchasing Course
Passcode: Will be Shared After Purchasing Course
Instructor Contact Information
- Instructor: Olu Balogun
- balogunoa@gmail.com
- 202-812-5484