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CONFERENCES

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20+ presenters and industry leaders at the Vendor & Third-Party Risk Symposium

Optimizing Vendor & Third-Party Risk practices to drive resilience

Artificial Intelligence (AI) is rapidly reshaping Third-Party Risk Management (TPRM) by enhancing the speed, and accuracy

20+ presenters and industry leaders at the Vendor & Third-Party Risk Symposium

Optimizing Vendor & Third-Party Risk practices to drive resilience

 

Resilience - Learn how to effectively implement resilience as a key pillar in vendor and third-party risk management frameworks

 

Cyber Risk - Identifying and managing cyber security risks across third parties and supply chains

 

Cloud - Approaches to ensure data security and compliance in a cloud environment

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Reporting - Developing effective metrics and reporting

 

Contract Management - Reviewing contract management practices to capture industry evolutions

Agenda

8AM – 8:50AM                     REGISTRATION & BREAKFAST

8:50AM – 9:50AM                CHAIR’S OPENING REMARKS

 

9:00AM – 9:30AM                SESSION 1: TERMINOLOGY

9:30AM – 10:15AM              SESSION 2: REGULATION IN TPRM PANEL

10:15AM – 11:00AM            SESSION 3: CONTRACT MANAGEMENT

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11:00AM – 10:15AM             MORNING REFRESHMENT BREAK & NETWORKING

 

11:15AM – 12:00PM            SESSION 4: SOURCING AND RISK SCORING

12:00PM – 12:45PM            SESSION 5: ASSESSMENTS

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12:45PM  - 1:45PM              LUNCH BREAK AND NETWORKING

1:45PM – 2:30PM       SESSION 6: INTER-AFFILIATE RELATIONSHIPS – PANEL

2:30PM – 3:15PM       SESSION 7: AI AND TPRM - PANEL

3:15PM – 3:30PM       AFTERNOON REFRESHMENT BREAK & NETWORKING

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3:30PM – 5:00PM       SESSION 8: TPRM WORKSHOP

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​5:00PM -5:30PM         SESSION 9: FUTURE OUTLOOK - PANEL

 

5:30PM                       CHAIR’S CLOSING REMARKS

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5:30PM – 8:00PM       END OF DAY DRINKS AND DINNER RECEPTION

SESSION DETAILS

 

SESSION 1: TPRM TERMINONOLOGY

Objectives

By the end of this session, participants will be able to:

  • Define key terms in Third-Party Risk Management (TPRM).

  • Differentiate between types of risks and vendor categories.

  • Understand how terminology ties into frameworks, regulations, and practice.

  • Use a consistent vocabulary when engaging vendors, regulators, and internal stakeholders.

Session Breakdown (45 minutes)

1. Introduction to TPRM (5 minutes)

  • What is TPRM?

  • Why terminology matters (consistency, contracts, regulatory alignment).

  • High-level view: vendor ecosystem and risk lifecycle.

2. Core Terminology (15 minutes)

Key Terms to Define:

  • Third Party vs. Fourth Party (direct vendors vs. subcontractors).

  • Vendor Risk vs. Supply Chain Risk.

  • Due Diligence (initial assessment of a vendor’s risk posture).

  • Ongoing Monitoring (continuous risk evaluation).

  • Inherent Risk vs. Residual Risk.

  • Risk Appetite vs. Risk Tolerance.

  • Control Environment (policies, processes, technologies).

  • Critical Vendor vs. Non-critical Vendor.

  • Material Risk vs. Immaterial Risk.

(Examples provided for each term — e.g., “cloud provider storing PHI = critical vendor.”)

3. Regulatory & Standards Terminology (10 minutes)

  • NIST CSF / NIST AI RMF (risk categories).

  • ISO 27001 / 42001 (information security & AI governance standards).

  • SOC 2 (Trust Service Criteria: security, availability, confidentiality, integrity, privacy).

  • DORA (Digital Operational Resilience Act).

  • FFIEC, OCC, HIPAA, GDPR terms related to vendor oversight.

  • SIG (Standardized Information Gathering Questionnaire).

4. Risk Categories in TPRM (10 minutes)

Introduce the “language of risk” used in assessments:

  • Information Security Risk

  • Operational Risk

  • Compliance/Regulatory Risk

  • Financial Risk

  • Reputational Risk

  • Concentration Risk (over-reliance on one vendor).

  • Geopolitical/ESG Risk

Provide mini case studies (e.g., vendor breach → reputational & compliance risk).

5. Wrap-Up & Q&A (5 minutes)

  • Recap top 10 TPRM terms.

  • Provide a glossary handout.

  • Open floor for questions.

Session Aids

  • Slides with glossary definitions.

  • Visual: TPRM lifecycle (onboarding → monitoring → offboarding).

  • Case study example (vendor breach scenario).

  • Handout: “TPRM Terminology Quick Reference Guide.”

SESSION 2: Navigating Regulation in Third-Party Risk

​Objectives

By the end of this session, participants will be able to:

  • Understand the regulatory landscape governing third- and fourth-party risk.

  • Identify similarities and differences across key regulations.

  • Apply regulatory requirements to vendor due diligence and monitoring.

  • Develop strategies to prepare for evolving compliance challenges.

Session Breakdown (45 minutes)

1. Introduction: Why Regulation Matters (5 minutes)

  • The rise of third- and fourth-party dependencies.

  • Regulatory scrutiny on vendor ecosystems.

  • Headlines/case examples of regulatory fines due to vendor failures.

2. Today’s Laws & Frameworks (15 minutes)

  • GDPR: Vendor accountability, privacy obligations, data processors.

  • DORA (Digital Operational Resilience Act): ICT third-party oversight in EU financial sector.

  • OCC / FFIEC Guidance: U.S. banking sector TPRM rules.

  • HIPAA: Business Associate Agreements.

  • ISO 27001 / ISO 42001: Security & AI governance requirements.

  • SOC 2: Trust Service Criteria for vendors.

(Visuals: world map with regional regulations.)

3. Commonalities Across Regulations (10 minutes)

  • Need for due diligence before onboarding vendors.

  • Ongoing monitoring requirements.

  • Documentation, audit trails, reporting.

  • Incident response & notification timelines.

4. Key Differences in Regulations (7 minutes)

  • Privacy focus (GDPR, HIPAA) vs. operational resilience (DORA).

  • Sector-specific (banking vs. healthcare vs. tech).

  • Scope: critical vs. all vendors.

  • Enforcement: fines, operational shutdowns, license restrictions.

5. Preparing for Regulatory Challenges (5 minutes)

  • Building a regulatory mapping matrix.

  • Leveraging TPRM tools & automation for compliance.

  • Aligning policies with NIST CSF/AI RMF.

  • Training internal teams & vendors.

6. Wrap-Up & Q&A (3 minutes)

  • Recap of key laws and terms.

  • Emerging trends (AI governance, cross-border regulations).

  • Questions & discussion.

Session Aids

  • Slide deck with regulation comparisons.

  • Case study examples (e.g., GDPR vendor fine, DORA in action).

  • Handout: “TPRM Regulatory Glossary & Matrix.”

SESSION 3: Contract Management

​Session Objectives

By the end of this session, participants will be able to:

  • Understand the role of contracts in managing third-party risk.

  • Identify key contractual clauses that mitigate cyber, compliance, and operational risks.

  • Learn how to align contract terms with regulatory requirements.

  • Apply best practices for monitoring and enforcing vendor obligations.

Session Breakdown (45 minutes)

1. Introduction: Why Contract Management Matters (5 minutes)

  • Contracts as the foundation of vendor governance.

  • Linking contracts to TPRM lifecycle (onboarding → monitoring → offboarding).

  • Real-world examples of contract gaps causing risk exposure.

2. Key Clauses in TPRM Contracts (15 minutes)

  • Data protection & privacy (GDPR, HIPAA, DORA alignment).

  • Information security requirements (encryption, SOC 2, ISO 27001).

  • Audit rights (access to assessments, penetration tests).

  • Incident notification & breach response (timelines, responsibilities).

  • Business continuity & disaster recovery obligations.

  • Subcontracting / fourth-party management clauses.

3. Aligning Contracts with Regulations (10 minutes)

  • GDPR: Data processing agreements (DPAs).

  • DORA: Critical vendor oversight and resilience requirements.

  • OCC/FFIEC: Financial services vendor guidelines.

  • ISO & NIST frameworks for standardization of language.

4. Monitoring & Enforcement (7 minutes)

  • Establishing contract scorecards.

  • Leveraging technology (CLM – Contract Lifecycle Management systems).

  • Renewal/termination triggers.

  • Common pitfalls (unenforceable clauses, vague language).

5. Preparing for Challenges (5 minutes)

  • Negotiating with large vendors (cloud providers, SaaS giants).

  • Balancing risk transfer vs. shared responsibility.

  • Legal vs. business priorities in contract negotiations.

6. Wrap-Up & Q&A (3 minutes)

  • Recap: Top 5 must-have TPRM clauses.

  • Future trends: AI in contract analysis.

  • Questions & discussion.

Session Aids

  • Slide deck with sample contract language.

  • Case study (breach without proper contractual protections).

  • Handout: “TPRM Contract Clause Checklist.”

SESSION 4: Sourcing & Risk Rankings

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Session Objectives

By the end of this session, participants will be able to:

  • Understand the sourcing lifecycle in TPRM.

  • Apply structured approaches to evaluating and ranking vendors.

  • Recognize common risk categories (security, financial, regulatory, reputational).

  • Use scoring and tiering models to prioritize oversight and resources.

Session Breakdown (45 minutes)

1. Introduction: Why Sourcing & Rankings Matter (5 minutes)

  • Vendors as critical extensions of the business.

  • Poor sourcing decisions → higher compliance, operational, and reputational risk.

  • Example: vendor selection missteps leading to breaches.

2. The TPRM Sourcing Lifecycle (10 minutes)

  • Needs identification → market scan → RFP/RFI → vendor evaluation → contract.

  • Importance of aligning sourcing with business and regulatory strategy.

  • Role of procurement vs. risk/compliance vs. IT/security teams.

3. Risk Categories to Consider (10 minutes)

  • Information Security Risk (data handling, SOC 2, ISO 27001).

  • Operational Risk (process reliability, staffing).

  • Regulatory/Compliance Risk (GDPR, DORA, HIPAA, OCC).

  • Financial Risk (vendor solvency, cost volatility).

  • Reputational Risk (brand damage, public trust).

  • Concentration Risk (dependence on one/few vendors).

  • Geopolitical/ESG Risk (location, sustainability, ethics).

4. Vendor Risk Ranking Models (12 minutes)

  • Inherent vs. Residual Risk frameworks.

  • Scoring methodologies: weighted criteria, heat maps, radar charts.

  • Tiering vendors:

    • Tier 1: Critical (cloud providers, data processors).

    • Tier 2: Important (HR, payroll, facilities).

    • Tier 3: Low impact (non-core suppliers).

  • Examples of scoring matrices (likelihood x impact).

5. Challenges & Best Practices (5 minutes)

  • Balancing cost vs. risk in sourcing.

  • Managing 4th-party risk visibility.

  • Avoiding checklist-only approaches — need for continuous monitoring.

  • Using automation and AI tools for vendor scoring.

6. Wrap-Up & Q&A (3 minutes)

  • Recap: sourcing lifecycle + key risk categories.

  • Top 3 takeaways: structured evaluation, transparent scoring, continuous monitoring.

  • Open floor for questions.

Session Aids

  • Slide deck with sample scoring matrix and heat map.

  • Case study: vendor ranking failure → breach exposure.

  • Handout: “TPRM Vendor Risk Scoring Framework.”

SESSION 5: Conducting Third-Party Risk Assessments

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Session Objectives

By the end of this session, participants will be able to:

  • Explain the purpose and importance of third-party risk assessments.

  • Identify the key phases of a TPRA.

  • Differentiate between assessment methodologies and tools.

  • Apply scoring models to classify vendor risk levels.

  • Recognize challenges and best practices in executing assessments.

Session Breakdown (45 minutes)

1. Introduction: Why Third-Party Risk Assessments? (5 minutes)

  • Vendors as extensions of your enterprise.

  • Regulatory drivers (GDPR, DORA, OCC/FFIEC, HIPAA, ISO 27001).

  • Real-world examples of risks uncovered through assessments.

2. The TPRA Lifecycle (10 minutes)

  • Pre-assessment preparation: define scope, vendor tiering.

  • Risk identification: categorize risks (information security, operational, financial, compliance).

  • Assessment execution: questionnaires (SIG, CAIQ), evidence review, interviews.

  • Risk scoring and ranking: inherent vs. residual risk.

  • Reporting & recommendations: dashboards, heat maps.

3. Methodologies & Tools (10 minutes)

  • Manual vs. automated assessments.

  • Standardized tools: SIG Lite, CSA CAIQ, NIST templates.

  • Platforms: OneTrust, ProcessUnity, RiskQ, Archer.

  • Continuous monitoring vs. periodic assessments.

4. Risk Scoring Models (10 minutes)

  • Inherent vs. residual risk explained.

  • Weighted scoring (likelihood × impact).

  • Heat maps and risk tiers (High, Medium, Low).

  • Vendor criticality analysis.

  • Example: Scoring a cloud vendor vs. a catering vendor.

5. Challenges & Best Practices (7 minutes)

  • Vendor pushback & incomplete responses.

  • Data validation & evidence quality.

  • Avoiding checkbox compliance → focus on real risk.

  • Establishing governance: who owns the assessment process?

  • Continuous monitoring to complement assessments.

6. Wrap-Up & Q&A (3 minutes)

  • Recap: lifecycle, tools, scoring, challenges.

  • Top 3 takeaways: structured process, transparency, continuous improvement.

  • Questions & discussion.

Session Aids

  • Slide deck with visuals (TPRA lifecycle diagram, heat map example, vendor tier pyramid).

  • Case study: Risk assessment uncovering vendor weaknesses.

  • Handout: “TPRA Quick Reference Guide.”

SESSION 5: Inter-Affliate Relationships Panel Discussion

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In the context of Third-Party Risk Management (TPRM), inter-affiliate relationships present unique challenges and opportunities. Unlike traditional vendor engagements, affiliates often operate under shared ownership structures, yet maintain separate governance, processes, and risk profiles. This can blur accountability and create assumptions that affiliates pose less risk simply because they are “part of the same group.” In reality, affiliates may be subject to different regulatory environments, data handling practices, or operational controls, introducing vulnerabilities into the enterprise ecosystem. A strong TPRM program must therefore extend due diligence and ongoing monitoring to affiliates, with clear contractual agreements, standardized policies, and aligned risk frameworks. By treating affiliates as critical third parties—while leveraging the trust and transparency of intra-group relationships—organizations can balance efficiency with compliance and resilience

SESSION 6: AI and TPRM Panel Discussion

Artificial Intelligence (AI) is rapidly reshaping Third-Party Risk Management (TPRM) by enhancing the speed, accuracy, and scalability of risk assessments. Traditional approaches often rely on manual questionnaires and periodic reviews, which can be slow and inconsistent. AI-driven tools, however, enable continuous monitoring of vendors by analyzing vast amounts of data—such as security incidents, financial health indicators, regulatory updates, and even news or social media signals—in real time. This allows organizations to identify emerging risks across their third- and fourth-party ecosystems before they escalate. At the same time, AI introduces new challenges, including the need for transparency, bias management, and compliance with emerging AI regulations such as the EU AI Act and NIST AI RMF. A robust discussion on AI in TPRM should therefore explore both the opportunities for automation and predictive analytics, and the governance requirements necessary to ensure AI-driven risk management remains ethical, explainable, and trustworthy.

SESSION 7: Workshop: Building Effective TPRM Programs

Audience: Risk managers, procurement teams, compliance officers, IT/security professionals, students
Format: Interactive workshop (presentations + group exercises + case studies)
Duration: 3 hours (flexible)

Workshop Objectives

By the end of the workshop, participants will be able to:

  • Understand the core components of a TPRM framework.

  • Apply regulatory and industry requirements to vendor oversight.

  • Conduct a third-party risk assessment using real-world tools.

  • Create a vendor risk ranking model (heat map or tiering).

  • Develop actionable strategies for contract management and ongoing monitoring.

Workshop Agenda

1. Introduction to TPRM (10 minutes)

  • Why TPRM is critical in today’s interconnected ecosystem.

  • The TPRM lifecycle: sourcing → onboarding → monitoring → offboarding.

  • Key terminology and regulatory drivers (GDPR, DORA, OCC, ISO 27001, NIST CSF).

Interactive: Quick poll on participants’ top TPRM challenges.

2. Case Study: Vendor Data Breach (15 minutes)

  • Walkthrough of a real-world vendor breach scenario.

  • Discussion: What went wrong? How could it have been prevented?

  • Identify the risks: information security, compliance, financial, reputational.

Exercise: Small groups list risk categories and controls that should have been in place.

3. Risk Assessment Workshop (30 minutes)

  • Introduction to risk assessment methodologies.

  • Inherent vs. residual risk.

  • Tools: SIG Lite, CSA CAIQ, questionnaires, evidence validation.

Exercise: Participants complete a sample vendor risk assessment using a pre-filled questionnaire.

  • Score vendor risk (High, Medium, Low).

  • Rank vendors by criticality.

4. Risk Ranking & Heat Map (20 minutes)

  • Building a scoring model: likelihood × impact.

  • Visualizing risks with heat maps and vendor tier pyramids.

Exercise: Teams create a simple risk heat map for assigned vendors.

  • Present results back to the group.

5. Contract Management & Monitoring (10 minutes)

  • Key contract clauses: data security, audit rights, breach notification, subcontractors.

  • Continuous monitoring: automated vs. periodic assessments.

  • Aligning with AI-driven risk monitoring.

Exercise: Review a sample vendor contract — identify missing TPRM protections.

6. Wrap-Up & Action Planning (20 minutes)

  • Group discussion: What are the top 3 improvements you’ll take back?

  • Share practical resources (checklists, templates, toolkits).

  • Q&A.

Workshop Materials

  • Slide deck (TPRM framework, lifecycle, scoring models).

  • Case study handout.

  • Risk assessment questionnaire (sample SIG Lite/CAIQ).

  • Vendor contract excerpt.

  • Heat map template (Excel or printed grid).

  • “TPRM Quick Reference Guide” handout.

SESSION 8: The Future of TPRM Panel Discussion

The future of Third-Party Risk Management (TPRM) is being shaped by rapid technological advances, evolving regulatory requirements, and increasingly complex global supply chains. Traditional methods of periodic vendor reviews are giving way to continuous monitoring powered by AI, automation, and predictive analytics, enabling organizations to identify risks in real time across third- and even fourth-party ecosystems. At the same time, regulatory frameworks such as DORA, the EU AI Act, and NIST AI RMF are raising the bar for governance, demanding greater accountability, transparency, and resilience in vendor oversight. Beyond cybersecurity and compliance, future TPRM programs will also integrate ESG, sustainability, and ethical considerations into vendor evaluations. By 2030, successful organizations will treat TPRM not as a compliance checkbox, but as a strategic capability—embedding it into digital transformation initiatives, strengthening resilience, and ensuring trust across increasingly interconnected networks.

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