Third Party Risk Management – Product Implementation Course

Course Overview:

The MetricStream Third Party Risk Management (TPRM) product enables a comprehensive process to identify, assess, mitigate, and monitor third-party risks & manage compliance. The product streamlines third-party information gathering, due diligence, onboarding, and monitoring of third-party risks, controls, and performance.

This course enables participants to understand, own and manage the application independently after the training.

Level

Advanced

Content

5 Hours

Practice

5 Hours

Q&A with MSU

2 Hours

Pre-Requisites

Familiarity with Third Party Risk Management

Certification Awarded*

MetricStream Certified Third Party Risk Product Implementation Associate

Audience:

This course is indented for Project Managers, Domain Functional Experts, Solution Managers, Configurators who wants to implement MetricStream’s OOTB Third Party Risk Management Product

Learning Objectives:

The training is focused on making trainees understand the features, process, workflows, and functionalities of the Third-Party Risk Management Product. At the end of the training, practice and certification, trainees will have knowledge on how to implement and perform basic configurations on the TPRM product which includes knowledge on:

§ Product Functionality & Usage

o Understand how to navigate the TPRM app

o Understand the different roles in the TPRM app

o Create a request to onboard a new Third Party/Service

o Initiate the Due Diligence Process

o Complete Due Diligence Process and Onboard Third Party

o Terminate Onboarding Process / Offboard Third Parties

o Monitor Third Parties

o Capture and address Third Party Issues

o Financial Risk Assessment using D&B integration

§ Product/Use Case Setup

o Create due diligence questionnaires

o Define segmentation rules

o Define due diligence workflow

§ User Management & Basic Administration

o Application & Approver Configuration

o Segmentation Tables

o Provision/Deactivate Users

o TPRM Role Activities & Objects

o Map Users to TPRM Org-Role Pairs

Practice & Facetime with Instructor:

Once you start the course, please reach out to MSU at MSU[email protected] to get a practice instance allocated. Upon completion of course content and sufficient practice, reach out to your MSU instructor for your 2 hr Q&A session to clarify and address any open questions.

Certification (Optional):

To be certified, you need to score a minimum of 75% on both the objective and practical assessment. You are allowed a maximum of 2 attempts to pass the certification tests. Please reach out to the instructor once you are ready for assessment. The maximum duration allowed for appearing for assessment is 2 weeks from the course assignment date.

Course Overview: The MetricStream Third Party Risk Management (TPRM) product enables a comprehensive process to identify, assess, mitigate, and monitor third-party risks & manage compliance. The product streamlines third-party information ga...

Course content

Lesson TPRM: Overview & Navigation

Every organization that engages with a third party has to ensure that the third party protects the confidential IT information, complies with regulations, avoids unethical practices, maintains a sa...
- Overview (10 Minutes)
- Navigation (18 Minutes)
Lesson TPRM: Planning and Process Definition

Helps the organizations to define a process to qualify, segment, and rank third parties by sequencing appropriate self-assessments and questionnaires based on the rules. Planning and process defini...
- New Third Party Request (14 Minutes)
- Approve Third Party Request (3 Minutes)
Lesson TPRM: Segmentation and Due Diligence Assessments

Allows the respondents to respond to the assessment questions based on the questionnaire. Once the third party engagements are approved, the first survey assessment of the associated due diligence ...
- Responding to Due Diligence Assessments (15 Minutes)
- Vendor Qualification (12 Minutes)
- Recap (2 Minutes)
Lesson TPRM: Issues

Helps reporting issues along with defining an action plan to address the problems.
- Creating & Approving Issues (22 Minutes)
- Managing Issues / Action Plans (15 Minutes)
- Respond to Actions / Monitor Issues (13 Minutes)
- Issue Closure (7 Minutes)
Lesson TPRM: Continuous Monitoring

Helps you facilitate a continuous monitoring process through relevant periodic risk assessment tasks that can be automated based on the due diligence results.
- Triggering Assessments (7 Minutes)
- Housekeeping (13 Minutes)
Lesson TPRM: Product Setup

MetricStream components can be tailored to specific requirements of an organization in different ways. This unit covers the most common requirements and functions performed by an 'Apps Administrato...
- Creating Questionnaire (30 Minutes)
- Segmentation Rules (13 Minutes)
- Due Diligence Workflow (26 Minutes)
Lesson TPRM Product Configuration

This unit covers configuration topics enabling you to populate configuration workbooks, updating LOVs and Data Table on forms and defining workflow parameters.
- Configuration Workbooks
- Configuration Parameters
- Updating List of Values & Data Tables
Lesson TPRM Product Administration

This unit will enable you to provision, deactivate and map users to various roles in the TPM app.
- OOTB Roles
- Org-Role Pair Mapping
- User Provisioning
Lesson TPRM: Product Enhancements

Third Party Risk Management Product updates in Colorado and Danube releases.
- Financial Risk Assessment Using D&B Integration
Lesson TPRM: Use Cases
- Automate Tiering of Vendors
- Triggering Due Diligence Assessments Based On Vendor Tiers
Lesson TPRM: Practice (4 Hours)

Please reach out to your trainer for credentials to the practice instance before starting this unit.
- Request New Third Parties and Due Diligence
- Third Party Request Approval
- Respond to Due Diligence Assessments
- Third Party Qualification
- Initiate Periodic Due Diligence Assessments
- Third Party Termination
- Work on Issues and Actions
- Segmentation & Due Diligence
Lesson TPRM: Assessment & Certification

Thank you for completing this TPRM Course. Kindly reach out to your instructor at [email protected] for access to the following certification assessments:
- Assessments & Certification