Vendor Risk Management(VRM) Fundamentals

The Vendor Risk Management Fundamentals course provides an introduction to the Vendor Risk Management application, which is part of the Governance, Risk, and Compliance (GRC) suite. The Vendor Risk Management application provides a centralized process to continuously monitor, assess, mitigate, and remediate risks in your third-party ecosystem. This course is designed for vendor risk managers, vendor assessors, and other risk and compliance professionals managing third-party risk.

• Describe the capabilities and benefits of Vendor Risk Management
• Define key terminology, concepts, and roles
• Manage the vendor portfolio and vendor risk tier
• Create a vendor risk assessment and assign it to a vendor
• Access the vendor portal to manage vendor contacts and respond to requests
• Remediate perceived vendor risks by adding comments and issues to a vendor risk assessment
• Create an assessment for a vendor engagement for a child vendor
• Explain how Vendor Risk Management integrates with other core GRC applications