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Third-Party Risk Management by Design Workshop, Chicago

2023-10-13 @ 10:00 am 4:00 pm Chicago

From Uncertainty to Business Confidence – Third Party Risk Management is an integral part of Enterprise Resilience! In an uncertain world, resilience is not only key to respond to critical events and safeguard assets – with a state-of-the-art resilience strategy, an enterprise can even gain a competitive advantage over its competition. 

This workshop provides a blueprint for attendees on effective third-party risk management in a dynamic business, regulatory, ESG, and risk environment and equip participants with practical skills and knowledge on how to reach “Business Confidence”. Attendees will learn third-party risk management strategies and processes that can be applied across the organization at either an enterprise or a department level. Learning is done through lectures, collaboration with peers, and workshop tasks.

Part 1: Third Party Management by Design

Why Third Party Management Matters

  • Third Parties in Disarray: how organizations mismanage third parties
  • Third Party Exposure: how mismanaged third parties expose the organization to risk
  • Current drivers & trends pressuring organizations in third party management
  • Different ways organizations approach third party management
  • What Effective Third Party Management Achieves: third party management’s role in governance, risk management, and compliance

Part 2: Third Party Governance

Blueprint for Effective Third Party Management

  • Third Party Governance Committee: bringing together the range of third party management roles and responsibilities in the organization
  • Third Party Management Charter: defining a structure to govern third party relationships
  • How to Develop a Third Party Management Strategic Plan

Part 3: Third Party Management Lifecycle

Managing Third Parties from Onboard to Offboarding

  • Third party identification & onboarding
  • Ongoing context monitoring
  • Third party communications & attestations
  • Third party monitoring & assessment
  • Third party forms & approvals
  • Third party metrics & reporting
  • Third party re-evaluation and offboarding

Part 4: Third Party Management Architecture

Enabling Information & Technology Management of Third Party Relationships

  • Third Party Management Information Architecture: Blueprint for Managing Third Party Content and Related Data
    • Types of third party management information and how it integrates into third party processes
    • Components and requirements for a third party information architecture
  • Third Party Management Technology Architecture: Blueprint for Enabling Third Party Management Processes with Technology
    • Kinds of third party management technologies and what best serves the organization
    • Capabilities and requirements of third party management platforms
  • Third Party Management Business Case: Articulating the Value of Effective Third Party Management
    • Defining a business case and value of third party management platforms

GRC 20/20 Instructor

Michael Rasmussen

GRC 20/20 ResearchMichael Rasmussen – The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 30+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” – being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.

Workshop Host

Horváth is an international, independent management consultancy firm with over 1,200 employees in locations in Europe, the USA, and other global markets. We represent in-depth knowledge across different industries and top-level subject matter expertise in all company functions – with a focus on performance management and transformation. We carry out projects for our international customers around the world. In this context, we provide precise knowledge of, and take into account, the local conditions thanks to the cooperation with our partners of “Cordence Worldwide”, a global network of truly connected consultancy firms with the ability to think and deliver together.

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