Pioneers in Global Leadership and Quality Training and KM Consultancy

Out of Safety for all our Clients, All our Courses are available for Live Online Training 

Third-Party Cyber Risks for Financial Services: Blind Spots, Emerging Issues & Best Practices​ Masterclass

Advance your practical strategies for managing cyber risk, 4th party risk and regulatory compliance to develop a sophisticated and secure vendor risk management framework in your firm

Also available for 2 to 3 day durations as well as 10 to 30-day training durations In-House and Live online

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The complexity of today’s Banking business means that most organizations need to regularly work with hundreds – and sometimes thousands – of third parties, including service providers, vendors, suppliers, contractors, partners, and other organizations. While this collaboration is critical, the exchange of data and sensitive information involved creates a new set of security risks that must be actively managed and continuously monitored. Harmful data breaches can originate with the compromise of a key vendor or business partner; disruptions impacting a third party can cause operational impact to customers.

Assessing and measuring the cyber risk posed by third parties has become a major component of an organization’s ongoing security needs, driven by an increase in data breaches and the legal and financial consequences for companies involved in them.

While the finance industry has historically had more robust cyber defences compared to other industries, the many third parties involved in its massive supply chain - including legal organizations, accounting and human resources firms, management consulting and outsourcing firms, and information technology and software providers - all pose potential weak spots.

This Masterclass will provide tools and best practices and will equip professionals in the banking sector with tested methodologies on apply Risk metrics and reporting tools, and how to best respond to the growing challenges associated with third-party cyber risks.

This training will include:

  • Risky Exposures
  • Existing Vulnerabilities:  tools for identifying Poor Cybersecurity Hygiene
  • Digital Transformation: More Outsourcing Means A Broader Attack Surface
  • Assessing Risks best practices to overcome Limited Visibility 
  • Limiting Exposure
  • ​Advancing your 4th party risk management to mitigate security risks
  • Enhancing third party risk management to ensure regulatory compliance
  • Developing sophisticated cyber and information security frameworks
  • Augmenting your risk profiling strategy to accurately define critical vendors
  • Optimizing your disaster recovery strategy to ensure business continuity

Impact to you and your Organization: Benefits of Attending this special training 

this training will provide tools and best practices in how you assess third party providers and show you how best to:-

  • Understanding the importance of Governance Risk and Compliance (GRC)
  • Learning the fundamentals of Third Party Risk Management
  • Knowing the scope of Third Parties and the "Threat Landscape"
  • Understanding Third Party Risk governance, compliance and regulatory environments
  • Learning key due diligence methodologies
  • Learning approaches to managing Third Party Risk (incl. governance and oversight)
  • Knowing how to sustain a TPRM Framework
  • Learning the phases of establishing a TPRM Framework

Participants will work in practical sessions to start modelling their "fit-for-purpose" TPRM Strategy and Plan.

Who should Attend
From the Banking Sector and Other Financial services Institutions

This training is suitable for a wide range of professionals but will greatly benefit:

  • Procurement Personnel
  • Compliance Personnel
  • Legal Personnel
  • Internal Auditors

Compressed  Key Topics (Please contact us for a full Program Outline)

Third Party Risk Management (TPRM) Overview

​Vendor Risk Management (VRM)

Service Organization Controls (SOC) Reporting

TPRM Process

TPRM Elements: The 4 RMs

Operational Risk Governance and the Regulatory Environment relating to Third Party Risk Management

The Third-Party Risk Management Framework – developing a strategy and plan

The Third-Party Risk Lifecyle – end to end process management

Implementing and Sustaining a TPRM Framework - enhancing your TPRM practices