Legal teams today increasingly seek the services of third-party vendors and consultants to reduce costs, expand internal capabilities, enhance service levels and enable internal staff to focus on high-value activities. They also are expanding the scope of legal matters assigned to outside vendors to include a broad range of functions related to litigation support, document review, eDiscovery, regulatory risk and compliance.
With organizations facing increased outsourcing to cloud-based service providers and growing data privacy and cybersecurity concerns, legal teams are more involved than ever in helping to bolster third-party risk management and security programs. They also are focusing on managing the regulatory and risk exposure associated with their organization's third-party relationships.
In this 60-minute webinar, our panelists will examine third-party risk management strategies for legal professionals. They will discuss:
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The legal outsourcing landscape
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Key risk and control assessment factors - and how to identify services to be outsourced based on acceptable risk thresholds
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Defining a risk appetite and prioritizing risk controls accordingly
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Key steps in the vendor risk assessment process, conducting comprehensive due diligence on potential vendors
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Identifying and responding to key triggers that signal high outside vendor risks
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Essential components of the third-party risk management framework
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Why high-level board engagement is critical to effective third-party risk management programs
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Managing outside vendor risk by establishing effective risk and control standards
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Optimizing processes to address growing risk management cost and resource challenges
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Leveraging industry standards for third-party risk
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Leading practices to manage outside vendor relationships and mitigate exposure to third- and fourth-party risk
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Operationalizing vendor risk management through contracts, ongoing monitoring, reports and remediation, as needed
Panelists:
Sunny Sanghani, Managing Director, Consulting Solutions, Robert Half Legal
Paul Kooney, Managing Director, IT Security and Data Privacy, Protiviti
Jolene Marshall, Vice President of Legal, Smartsheet
Moderator:
Jamy J. Sullivan, J.D., Executive Director, Robert Half Legal
ADDITIONAL NASBA CPE INFORMATION:
Learning Objectives:
After completing this course, you will be able to:
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Identify key risk/control assessment factors.
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Define a risk appetite and explain how to prioritize risk controls accordingly.
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List key steps in a vendor risk assessment process.
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Describe how to conduct comprehensive due diligence on potential vendors.
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Identify key triggers that signal high outside vendor risks.
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Identify leading practices to manage outside vendor relationships.
Learning Level: Beginner
Prerequisites: None
Field of Study: Specialized Knowledge
West Professional Development is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:
www.nasbaregistry.org
