The Evolving Landscape for Management of Third Party Service Providers


Instructor: Daniel Clark
Product ID: 706980

  • Duration: 60 Min
Third Party Risk Management is all about managing service providers. For several years, businesses have been increasing reliance on third parties. While this reliance has many upsides, there are risks that should be recognized and managed. This session highlights those risks and provides alternatives to best manage them.
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After defining terms and determining exactly what a third party is, we explore the life cycle of third parties. This exploration includes detailed conversations on the risks associated with each step in that cycle. By highlighting the risks we can better design a management process assuring adequate controls and limiting the possibility of unexpected losses.

The session then moved on to an overview of third party management and detailed conversations around each of seven aspects of a strong risk management process for third parties.

Participants will also receive examples of third party risk assessments, report cards, dashboards and board reporting so that the in house management process is complete and up to date.

For any manager concerned about third parties this session is a must attend.

Why Should You Attend:

Over the past 15 years, the proliferation of third parties and the use of third parties have grown significantly. There ids not one business that does not use a third party service provider for some service, be it janitorial, technology, cash control, or even human resources and compliance.

The use of third parties has become a budget enhancement and in some cases even a productivity plus. However, many management teams do not fully understand the risks associated with the use of even the most respected third parties. This session delves into those risks and highlights suggested management practices that any middle manager, risk manager and business leader should understand.

Members of the Board of Directors could also gain insights into the risk associated with third party support, which can only enhance their oversight and governance practices.

Areas Covered in the Webinar:

The three key aspects of Third Party Risk Management are covered:

  • Defining What is a Third Party
  • Design and Implementation of Third Party Risk Management
  • Determining what is third party risk exactly
  • Managing Third Parties
  • Creating the right governance practices over Third Parties
  • 7 steps to great Third Party Management
  • Score Cards and Board Reporting

Who Will Benefit:

  • Middle Management
  • Team Leaders
  • Quality Control
  • Project Managers
Instructor Profile:
Daniel Clark

Daniel Clark
Author, Speaker, Metaphysician, Audit and Risk Management Strategic Leadership and Development

Daniel (Dan) Clark has over 30 years experience in Financial Services. With experience in Citigroup, GE Capital, and two regional banks, Dan was able to develop international, national and regional skills in banking strategies and risk management.

As Chief Audit Officer for small, regional and international organizations, Dan was able to learn from several audit and risk leaders. During his work at Citigroup, Dan travelled throughout Latin America reviewing consumer banking, pension fund and investment banking, and insurance and brokerage business.

While at GE Capital, Dan had the pleasure of learning global perspectives on energy, healthcare, manufacturing and financial services. This global perspective has been key to the development of Dan’s current GRC understanding and philosophy.

He is a speaker and contributor to industry conferences, publications and think tanks and considered an expert in GRC methodology and application. He provides training and mentoring to risk management staff and internal auditors. His book, Dare to Be Different, An Auditor’s Personal Guide to Excellence has been well received in the audit industry.

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