TPRM Basics: Third-Party Risk Management Certification
As the risk for data breaches and supply chain disruption continues to rise, so does the need for the effective third-party risk management (TPRM) programs. Whether you’re a TPRM professional looking for a certification to advance your skillset, or a member of leadership considering how to better equip your team with the best knowledge and skills, there are plenty of TPRM certification programs to consider.
In this article, we’ll help you understand the differences between the top third-party risk management certification programs available, so you can best determine which one might be right for you or your organization.
Why should you consider a third-party risk management certification?
As mentioned above, the risks associated with third and fourth-party relationships are certainly not going away. If you want to protect your organization from these threats, you’ll need to ensure your TPRM team is well equipped with the latest and greatest knowledge, and ready to take all the proper security measures to secure third parties.
Practicing TPRM is not as simple as managing an vendor inventory in a spreadsheet. Having an effective TPRM program means having a working knowledge of different laws, regulations, and the best practices for maintaining compliance over time. When a professional earns a TPRM certification, they will not only learn how to manage third-party risk from a technical perspective, but also how to continue improving the program as the business evolves.
What should I consider when evaluating third-party risk management certification program?
Most TPRM certification courses will include the following:
- An educational course
- Supporting educational materials such as books, guides, exercises, and other references
- Instructional support whether digital or in-person
- A standardized test
Also, make sure that the TPRM certification program you choose is backed by trusted professionals in the risk management space and that the program has been completed and evaluated by fellow practitioners from a variety of organizations.
The Top Certification Programs to Consider:
- Shared Assessments’ Certified Third-Party Risk Professional (CTPRP)
- Shared Assessments’ Certified Third-Party Risk Assessor (CTPRA)
- SIG University’s Certified Third-Party Risk Management Professional Certification (C3PRMP)
- Thompson Reuters’ Third-Party Risk Management Course
If you’re already using OneTrust Vendorpedia to manage your third-party risk, the VendorRiskConnect online workshops are a great place to start when looking for ways to enhance your working knowledge of best practices. This series is valuable for anyone in your organization that wants to gain a better understanding of TPRM and is looking to find ways to better protect your organization from outside threats.