Education / Course Details
Third Party Risk Management for Relationship Managers
Helping relationship managers confidently oversee third-party relationships while supporting effective risk management
About this course
Managers are often responsible for overseeing key third-party relationships that are critical to their organisation's success. While this oversight is essential, managing third-party risk is usually only one part of a much broader role, and many managers may not be clear on how risks can—or should—be identified, assessed and managed across the relationship.
This course is designed for relationship managers who work with third parties but are not dedicated risk specialists. It recognises that third-party risk management is a team sport, with the relationship manager acting as the central point of coordination between stakeholders, suppliers and risk specialists.
Participants will develop practical awareness of common third-party risk management processes and gain a clearer understanding of what may be expected of them at different stages of the third-party lifecycle. By the end of the course, participants will feel more confident in their role, knowing when to act, when to escalate concerns, and how to support stronger and more resilient third-party relationships.
Course specifics
Audience: This course is designed for relationship managers, contract managers, vendor managers, business owners and employees who oversee or interact with third parties as part of their role.
Cost: $99.00 (members), $120.00 (non-members)
Time: Approximately 25 minutes.
CPD Points: 1 CPD Point
Facilitator: The Protecht Group
Format: On-Demand
CPD Points: 1
Course Facilitator:
The Protecht Group
Course details
Third parties play a critical role in helping organisations achieve their objectives, access specialist expertise and deliver services efficiently. However, they can also introduce risks that, if not effectively managed, may impact operational performance, compliance obligations, reputation and strategic outcomes.
This course provides a practical introduction to third-party risk management for non-specialists. Participants will explore why third-party risk management matters, understand the different types of risks that can arise from third-party relationships, and learn how risk management activities support better business outcomes.
The course also examines the key phases of the third-party lifecycle and outlines the role relationship managers play in supporting onboarding, monitoring and offboarding activities. Participants will gain practical insights into how third-party risk management operates within a broader organisational framework and how they can contribute effectively to the process.
Key topics covered:
1. 1. Why we need third-party risk management
Why organisations engage third parties
How third parties create both opportunities and risks
Balancing risk and reward
Why managing third-party risk matters
The role of relationship managers in supporting risk management outcomes
2. Defining third-party risk management
Definition of third-party risk
Definition of third-party risk management
Linking third-party risk management to organisational objectives
Understanding the components of risk:
Third parties as risk events
Third parties as causes of risk
Common types of third-party risk
The three main phases of third-party risk management
3. Practising third-party risk management
Understanding the three phases of the third-party lifecycle:
Onboarding
Ongoing monitoring
Offboarding
Key roles involved in third-party risk management
The relationship manager's role throughout the lifecycle
Understanding the enterprise-wide view of third parties
4. Cadence of third-party risk management
Formal and informal approaches to managing third-party risk
Structured and dynamic approaches to oversight
Maintaining ongoing awareness of changing risks
Supporting continuous improvement in third-party relationships
Learning outcomes:
Explain why third-party risk management is important and how it supports organisational objectives.
Identify common types of risks associated with third-party relationships.
Understand the key phases of the third-party lifecycle and the activities that occur within each phase.
Describe the role relationship managers play in supporting effective third-party risk management.
Recognise when to escalate issues and engage specialist support.
Contribute to stronger, more resilient and better-managed third-party relationships.