ED-EL-05 – Building a Data-Driven Third-Party Risk Management (TPRM) Program with FAIR™ – e-Learning
Duration: Approximately 10 hours of e-Learning content (unlimited access for 3 months)
Training format: Asynchronous (e-Learning)
CPE credits: 10
Pricing
- €695 excl. VAT per person – ED-EL-05.1
- €2,780 excl. VAT / 5 participants – ED-EL-05.2
- €4,170 excl. VAT / 10 participants – ED-EL-05.3
Elevate your skills and career potential with expert-led courses from C-Risk Education
This advanced e-Learning program provides a practical, scenario-based approach to managing cyber and operational risks related to third parties using the FAIR™ Standard.
The course covers the full lifecycle of a TPRM program: third-party mapping, due diligence, contracting, onboarding, continuous monitoring, and periodic review. At each stage, participants learn how to identify key exposures, build risk scenarios, and quantify them in financial terms using data-driven methods.
Modules are supported by concrete examples drawn from a variety of supplier contexts (IT service providers, managed service providers, critical SaaS vendors, outsourcing partners, etc.) and demonstrate how to prioritize efforts with partners to effectively reduce risk exposure.
By the end of the program, participants will be able to apply FAIR™ to build or strengthen a measurable and defensible TPRM program, capable of supporting discussions with business units, procurement, legal teams, and executive leadership.
€695 excl. VAT per person – ED-EL-05.1
€2,780 excl. VAT / 5 participants – ED-EL-05.2
€4,170 excl. VAT / 10 participants – ED-EL-05.3
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Approximately 10 hours of e-Learning content (unlimited access for 3 months)
Asynchronous (e-Learning)
10
By the end of the course, participants will be able to:
- Understand the specific cyber and operational risk challenges introduced by third-party relationships
- Identify assets, threats, and loss events involved in third-party risk scenarios
- Build FAIR™ scenarios tailored to different types of suppliers and supply chains
- Quantify third-party risks using calibrated estimation ranges and Monte Carlo simulations
- Integrate quantitative results into due diligence, contracting, onboarding, and ongoing third-party monitoring
- Communicate vendor risk exposure in financial terms to support decision-making and remediation prioritization
Who Should Attend
CISOs / Heads of Information Security, cybersecurity or risk analysts, TPRM practitioners, GRC consultants, procurement teams, vendor managers, and technical auditors involved in assessing and monitoring third parties.
Prerequisites
None required.
However, a basic understanding of risk quantification with FAIR™ may be beneficial.
Introduction to Data-Driven TPRM
- Challenges and limitations of traditional TPRM approaches (checklists, generic scoring methods)
- Principles of a FAIR™-based TPRM program grounded in financial risk quantification
Mapping and Segmenting Third Parties
- Typology of third parties and critical dependencies (cloud, SaaS, managed services, business service providers, etc.)
- Segmentation based on risk exposure rather than purely contractual or financial criteria
Building Third-Party Risk Scenarios with FAIR™
- Identifying assets exposed through third parties and associated threats
- Developing FAIR™ scenarios for various use cases (data breaches, service outages, fraud, etc.)
- Collecting and estimating data required for quantification
Quantifying Risk and Prioritizing Actions
- Using estimation ranges and Monte Carlo simulations to measure third-party risk exposure
- Comparing scenarios and remediation options (contractual clauses, mandated technical controls, business continuity plans, etc.)
Integrating FAIR™ into the TPRM Lifecycle
- Initial due diligence: using quantification to inform acceptance or conditional approval decisions
- Contracting and onboarding: linking security requirements and contractual obligations to measured risk levels
- Continuous monitoring: leveraging quantitative results in periodic vendor reviews and portfolio management
- Course designed by C-Risk experts in TPRM and FAIR™
- Case studies inspired by real-world consulting engagements involving data-driven TPRM program development
- Quizzes and practical exercises throughout each module to reinforce key concepts
- Final capstone exercise: building a mini FAIR™-based TPRM program applied to a fictional third-party portfolio
- Video modules, detailed case studies, and demonstrations of FAIR™ analyses applied to third parties
- Scenario templates and tools for identifying, analyzing, and assessing third-party risks
- 3-month access to the eLearning platform to review content and materials
Advance Your Career with Cyber Risk Management Training
E-learning platform and instructor-led courses in quantification, cyber risk frameworks, and data-driven decision-making. C-Risk Education equips you with the skills to analyze and manage cyber risk effectively. Our training covers multiple methodologies and frameworks: cyber risk quantification, EBIOS RM, third-party risk management, and advanced threat and control assessment techniques. Learn practical, immediately applicable skills across the full spectrum of modern cyber risk management.
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