Struggling to keep third party vendor risk in check?
Smart Online Course, in association with Risk Management Association of India (RMAI) offers the Online Certificate Course in Third Party and Vendor Risk Management. This 6-hour online course empowers you with global frameworks, practical strategies, and real-world examples to confidently identify, assess, and mitigate third-party and vendor risks-ensuring regulatory compliance, contract governance, and operational resilience across industries.
Problem Statement
With increased outsourcing, organizations today face growing exposure to vendor-related risks-ranging from data breaches to regulatory non-compliance and reputational fallout. Most businesses lack structured, lifecycle-based frameworks to assess, monitor, and govern third-party engagements.
This course solves that gap-by providing the practical roadmap, tools, and skills needed to manage vendor risk effectively.
Key Details
Duration: 6 Hours
Format: Online | Self Paced | 100% Flexible & Accessible Anytime
Dual Certification: Issued by Risk Management Association of India, Smart Online Course + BFSI Sector Skill Council of India
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- Career benefits and practical applications of the course
- Complete program details, eligibility, and enrollment information
What You’ll Learn in Third Party Vendor Risk Management
- Assess and categorize vendor risks-cybersecurity, compliance, operational, financial
- Apply global standards (ISO 27036, NIST, GDPR, ISO 31000) across lifecycle stages
- Conduct due diligence using structured checklists and segment vendors by criticality
- Build SLA governance frameworks and manage contract risk
- Monitor third-party performance, red flags, and escalation processes
- Implement vendor offboarding, termination, and contingency plans with confidence
- Learn from industry-based case studies (BFSI, healthcare, logistics)
Who Should Enroll
This course is tailored for:
- Risk & compliance professionals, operational risk officers
- Procurement, vendor management, and supply chain teams
- Internal audit, business continuity, and GRC personnel
- MSME owners and functional leaders working with outsourced vendors
Third Party Vendor Risk Management Course Format & Duration
- 6 hours of on-demand video-based learning
- 120 days of access from the date of enrollment
- Certificate of Completion awarded at the end
Accelerate your growth with Dual Certification
Skills You Will Gain
- Understand the fundamentals of Third-Party Vendor Risk Management (TPRM) and its role in enterprise risk management.
- Identify operational, financial, cybersecurity, compliance, legal, strategic, and reputational risks associated with third-party vendors.
- Conduct vendor due diligence before onboarding suppliers, service providers, and outsourcing partners.
- Perform vendor risk assessments using structured risk evaluation methodologies.
- Classify vendors based on criticality, inherent risk, and business impact.
- Learn how to design and implement an effective Third-Party Risk Management framework.
- Understand vendor onboarding, contract management, performance monitoring, and offboarding processes.
- Evaluate vendor controls related to information security, data privacy, business continuity, and regulatory compliance.
- Develop effective vendor governance and ongoing monitoring programs.
- Learn how to assess fourth-party and supply chain risks affecting organizational resilience.
- Understand Service Level Agreements (SLAs), Key Risk Indicators (KRIs), and vendor performance metrics.
- Analyze real-world vendor failures, outsourcing risks, and third-party breach case studies.
- Strengthen business resilience through effective vendor oversight and risk mitigation strategies.
- Apply industry best practices aligned with enterprise governance, risk, and compliance (GRC) programs.
- Build practical skills for careers in procurement, vendor management, operational risk, compliance, internal audit, and enterprise risk management.
Why This Course Is Unique
- Covers the entire third-party risk lifecycle-from onboarding to exit
- Aligned with global regulatory frameworks and real compliance needs
- Includes checklists, risk register formats, and SLA tracking structures
- Rich in practical examples and cross-industry case studies
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Frequently Asked Questions (FAQs)
1. What is Third-Party Vendor Risk Management (TPRM)?
Third-Party Vendor Risk Management (TPRM) is the process of identifying, assessing, monitoring, and mitigating risks arising from relationships with vendors, suppliers, service providers, contractors, and outsourcing partners throughout their lifecycle.
2. Who should enroll in this course?
This course is ideal for procurement professionals, vendor managers, risk managers, compliance officers, internal auditors, information security professionals, banking and financial services professionals, supply chain managers, students, and anyone responsible for managing third-party relationships.
3. Do I need prior experience in Vendor Risk Management?
No. The course is designed for beginners as well as experienced professionals. It covers TPRM fundamentals before progressing to practical risk assessment and governance techniques.
4. What topics are covered in this course?
The course covers vendor due diligence, vendor onboarding, risk assessment, contract management, cybersecurity risks, data privacy, regulatory compliance, continuous monitoring, vendor governance, business continuity, supply chain risk, and practical case studies.
5. Is this course completely online?
Yes. It is a 100% self-paced online course that allows you to learn anytime, anywhere, and on any device.
6. Will I receive a certificate after completing the course?
Yes. Upon successful completion, learners receive an industry-recognized certificate from the Risk Management Association of India (RMAI).
7. Why is Third-Party Risk Management important?
Organizations increasingly rely on external vendors for critical services. Effective TPRM helps reduce operational disruptions, cybersecurity threats, regulatory risks, financial losses, and reputational damage while improving business resilience.
8. Will I learn how to conduct vendor due diligence?
Yes. The course explains how to evaluate vendors before engagement by reviewing their financial stability, security controls, regulatory compliance, operational capabilities, and overall risk profile.
9. Does the course include practical case studies?
Yes. The course includes practical examples and real-world vendor risk scenarios to help learners understand common third-party failures, outsourcing risks, cybersecurity incidents, and effective mitigation strategies.
10. Will I learn about cybersecurity and data privacy risks?
Yes. The course covers cybersecurity assessments, data protection requirements, information security controls, privacy risks, and vendor security governance as part of a comprehensive TPRM program.
11. What is continuous vendor monitoring?
Continuous vendor monitoring is the ongoing process of reviewing vendor performance, compliance status, security posture, financial health, and emerging risks throughout the vendor relationship rather than only during onboarding.
12. Is this course relevant for banking and financial services professionals?
Yes. Banks, NBFCs, insurance companies, fintech firms, and financial institutions rely heavily on third-party service providers. This course helps professionals manage outsourcing risks, regulatory expectations, cybersecurity risks, and operational resilience.
13. Is this course suitable for freshers?
Yes. Students and recent graduates interested in procurement, risk management, compliance, internal audit, supply chain management, or vendor governance can build a strong foundation through this course.
14. What practical skills will I gain?
You will learn to perform vendor due diligence, assess third-party risks, classify vendors, evaluate security controls, monitor vendor performance, manage contractual risks, strengthen governance, and support enterprise-wide Third-Party Risk Management initiatives.
15. How will this course help my career?
As organizations strengthen governance and outsourcing oversight, Third-Party Vendor Risk Management professionals are in high demand across banking, financial services, IT, healthcare, manufacturing, consulting, and multinational organizations. This course prepares you for roles such as Vendor Risk Analyst, Third-Party Risk Manager, Procurement Risk Specialist, Operational Risk Analyst, Compliance Officer, Internal Auditor, GRC Analyst, and Supply Chain Risk Professional.
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Website: www.smartonlinecourse.com- Email: info@smartonlinecourse.com
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