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Risk-Based Vendor Management Fundamentals

Mitigate risk by creating a cost-effective vendor management program for your company.

Vendor management is easy to overlook or under prioritize when businesses grow or contract, but it is one of the most cost-effective ways to mitigate risk available. When the value of vendor management is realized, companies can sometimes go overboard, creating unnecessary and illogical bureaucratic barriers to business. Risk based vendor management prioritizes and allocates your resources by risk level. Whether your business is small or a Fortune 500 company, this topic will help you understand what you need to do to develop or improve your risk based vendor management program. Learning how to identify, assess, and mitigate risk through simple steps can help minimize litigation, operational losses, and reputational risk. Risk based vendor management is the key to 'right-sizing' your vendor management program to be streamlined and effective.

Runtime: 101 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Vendor Management Overview

  • Liability Case Studies
  • Vendor Assessment and Contracting Process
  • Ongoing Vendor Management and Vendor Offlining

Vendor Contracting and Risk Assessments

  • What Are the Goals of a Risk Assessment?
  • What Are the Elements of a Good Risk Assessment Framework?
  • Is There Value in Instituting a Tiered Assessment Regime?
  • Considerations With Numerical Risk Scores
  • Considerations With Qualitative Scores
  • What to Provide Beyond a Simple Checklist
  • Who Should Be Responsible for Each Aspect of the Assessment?
  • How Are Remediation Measures Designed and Executed?

Ongoing Vendor Management and Offlining

  • Vendor Inventory
  • Vendor Privacy Audits
  • Inventory of Vendor Data
  • Data Subject Rights
  • Deletion or Return of Data
  • Assessing Ongoing Risk Following Removal of a Vendor
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on September 18, 2019.

Call 1-866-352-9540 for further credit information.

  • CPIM/CFPIM/CSCP 1.0
     
  • This program may qualify for 1.0 certification maintenance points toward the CSCP, CPIM and CLTD designations through The Association for Operations Management.
     
  • ISM 1.5
     
  • Participants who successfully complete this program will receive 1.5 hours of continuing education. They may be applied toward ISM CPSM, CPSD or C.P.M. recertification. ISM's consent to approve hours for this educational event is not an endorsement of this program or its content by ISM.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Anthony Glosson

Kilpatrick Townsend & Stockton LLP

  • Associate with Kilpatrick Townsend & Stockton LLP
  • Delivers creative solutions on a range of privacy, communications, and regulatory compliance matters
  • Written several publications in the field of technology law with an emphasis on global privacy, IoT, cybersecurity, and active cyber defense
  • Has drafted vendor management policies and risk assessment tools for clients operating in jurisdictions around the world, including routinely engaging vendors directly on behalf of clients to identify compliance gaps and develop acceptable remediation measures
  • Has leveraged this experience with risk-based vendor management to conduct risk assessments, draft risk statements, and negotiate data protection terms for clients spanning technology, telecommunications, and pharmaceutical industries
  • J.D. degree, high honors, George Washington University Law School; B.A. degree, high honors, in sociology, Northern Illinois University

Jon Neiditz

Kilpatrick Townsend & Stockton LLP

  • Co-leads the Cybersecurity, Privacy and Data Governance Practice at Kilpatrick Townsend & Stockton LLP
  • One of the first lawyers to focus broadly on data governance and knowledge asset protection
  • He remains the only person recognized by Best Lawyers in America® both for Information Management Law and for Privacy and Data Security Law For decades he has helped clients anticipate, obviate, and manage information privacy and security risks; appropriately monetize information; comply with privacy, data protection and cybersecurity laws around the world in pragmatic ways; and contain and prevent harm from incidents while maximizing resilience and recovery afterwards
  • Was selected as a “Cybersecurity Trailblazer” by the National Law Journal and as a Ponemon Fellow
  • Certified by the IAPP in Europe as well as in the U.S. (CIPP/E, CIPP/US and CIPM)
  • J.D. degree, Yale Law School; B.A. degree, Dartmouth College
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404831
Published 2019
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