The use of third-party services has become a valuable business practice in virtually every industry these days. By outsourcing services, corporations can reduce costs and allow management to sharpen their focus on core business activities. The use of outsourced services introduces an element of risk as vendors could have access to sensitive customer data, which elevates the cybersecurity threat, or vendor services can directly impact corporate objectives.

Vendor risk management (VRM) is a comprehensive plan for identifying and decreasing potential business uncertainties and legal liabilities. Increased regulatory focus on vendor management has placed a greater burden on institutions to build a compliant program. For e.g., FFIEC, GLBA 501(b), etc.The VRM course is in two parts. Part I provide the knowledge of the fundamentals of vendor risk assessment, factors driving risk assessment, introduction to third-party risk management frameworks, etc.

In this course, you will be asked to read through lessons, participate in learning activities, and partake in knowledge checks designed to reinforce learning, followed by the end of the course final assessment.