Learning Outcomes
By the end of this course, participants will be able to:
Define Third Party Risk Management (TPRM) and explain its relevance in the UK regulatory regime.
Define Outsourcing and understand the regulatory requirements related to it.
Understand the role of a risk assessor in TPRM and be able to conduct a risk assessment of a third party.
Understand the TPRM framework, including Governance, On-Boarding, Oversight, and Exit Strategy, and be able to apply it to manage third party risks.
Understand the importance of Governance in TPRM and be able to identify the key elements of an effective Governance framework.
Understand the importance of On-Boarding in TPRM and be able to identify the key steps in the On-Boarding process.
Understand the importance of Oversight in TPRM and be able to identify the key elements of an effective Oversight framework.
Understand the importance of Exit Strategy in TPRM and be able to identify the key steps in the Exit Strategy process.
This training course will provide participants with practical examples and case studies to enable them to apply their knowledge and skills to real-world scenarios. Upon completion of this course, participants will be able to effectively manage third party risks in compliance with regulatory requirements.
Required Knowledge and Skills
The course is suitable for anyone in financial services. This course can be adapted so that it specifically addresses individuals working in specific roles such as risk and compliance, front, back, and middle office personnel, board members, and senior managers.
About the Course
The aim of this training course is to provide a high-level understanding of Third Party Risk Management (TPRM) and its importance in the UK regulatory regime. This course will equip participants with the necessary knowledge and skills to effectively manage third party risks, including outsourcing, in compliance with regulatory requirements.
Duration
90 minutes