As the outsourcing of critical functions and services continues to increase and technology becomes more complex while vendor interdependencies continue to expand to 4th and 5th parties, additional emphasis must be placed on formal, comprehensive Outsource Planning and developing a well thought out Exit Strategy before any 3rd parties are even considered.

This course covers the 3rd Party Risk Management Lifecycle, with a focus on Outsource Planning and Exit/Transition.It focuses on how a well-planned outsource and exit accomplishes the following five key objectives:

• Identifies and mitigates risk
  
• Aligns the institution's strategic objectives with outsourced activities
  
• Monitors the progress towards achieving strategic objectives
  
• Maintains control of budget
  
• Minimizes the impact of disruptions and change

This course begins with a review of the regulatory guidance concerning Outsource Planning and Exiting a 3rd party relationship. It then provides a detailed study of the 12 key components of outsource planning, followed by an in-depth discussion of the issues which must be considered when Exiting or Transitioning from one 3rd party to another - or even bringing the service back in-house.

Bonus Materials:

• Outsource Planning Checklist
  
• Comprehensive Exit Strategy document
  
• Certificate of Completion

Who Should Take This Course:

Risk Officers, Compliance Officers, CIOs, CFOs, Auditors, Examiners, Vendor Management Specialists, Operations Officers, Info Security Officers, and anyone involved in building and managing a compliant vendor management program.

How To Access This Course:

This course, as well as the Certification, is provided through the Compliance Education Institute. The Institute will email you directly with access instructions for taking your course and starting the process towards earning your CRVPM Certification once you order the course!

Prerequisite: None, though students may want to earn the CRVPM
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