Outsourcing & Third Party Risk Management Training Course

As the risk inherent to business relationships grow, regulators have been drafting and implementing outsourcing and third-party risk management rules and guidance.

Our Outsourcing & Third Party Risk Management course provides insight into outsourcing and third-party risk management rules and procedures firms must comply with.

Outsourcing and Third Party Risk Management Training Course

About this Course

Our Outsourcing and Third Party Risk Management course is available as part of our comprehensive FCA Compliance Library, which contains training modules covering everything from high-level and conduct of business standards to thematic topics.

Learning Objectives

This course will prepare you to:

Identify when an arrangement might be considered to be outsourcing
Identify and manage risks arising from third parties
Recognise the regulators' high-level expectations
Identify critical and important functions
Establish good governance and retained accountability
Put in place a written agreement
Know when to notify the regulators about material outsourcing

Course Outline

Welcome

What do we mean by outsourcing & third-party risk management?

- Definitions
- Regulatory concerns about outsourcing and third-party risk management

High-level expectations

- Fundamental rules and principles
- Systems and controls
- Organisational arrangements
- Risk management
- Examples of risks
- Risk mitigation

Governance & accountability

Due skill, care & diligence

Written agreement

- Access rights
- Exercising the right to audit an outsourced provider
- You decide: Access and audit rights
- Exercise: Data in outsourcing relationships
- Data security in outsourcing and third-party relationships

Material outsourcing

Summary

Affirmation

Assessment

Course Specifications

This course is designed to for all staff members.

Structure

Approximately 60 minutes followed by a 10-question assessment.

Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via client style sheet.

Fast Track Option

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment by simply passing the assessment.

Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

Tailoring

Fully customisable on Skillcast Portal CMS.

Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.

We, as a firm, are very satisfied with the Skillcast training platform, its course design and its content. The online tools and guidance provided by the platform are super easy, enabling anyone to incorporate their own designed training modules with the help of course editor options.