Vendor Risk Management (VRM) Implementation

This two-day course covers the domain knowledge, common implementation technical aspects, and various processes needed to effectively manage a Vendor Risk Management (VRM) implementation.

Attendees will learn and practice various tactical skills and strategies that will better prepare them to implement VRM. Through lectures, group discussion, hands-on labs and demonstrations, participants build on existing knowledge and skills by applying implementation best practices. Course topics include:

• Vendor Risk Management Review
• Core Configuration
• Assessment Configuration
• Vendor Risk Issues and Processes
• Vendor Portal Configuration
• Application Relationships
• Dashboards and Reports

Module 1 Vendor Risk Management Review

• About VRM
• VRM Process
• Technical Details
• Lab 1.1 Preparing to Implement ServiceNow Vendor Risk Management

Module 2 Core Configuration

• Vendor Portfolio Configuration
• Lab 2.1 Vendor Setup
• Vendor Contacts Configuration
• Lab 2.2 Populate Vendor Contacts
• Vendor Tiering Configuration
• Lab 2.3 Vendor Tiering
• Vendor Security Scoring Configuration
• Lab 2.4 Vendor Hierarchy and Engagements

Module 3 Assessment Configuration

• Assessment Basics
• Vendor Assessment Configuration
• Vendor Risk Assessment Generation
• Lab 3.1 Vendor Risk Assessment Templates
• Lab 3.2 [CHALLENGE] Data Privacy Assessment
• Vendor Risk Assessment Calculations
• Vendor Risk Assessment Lifecyle
• Lab 3.3 Vendor Risk Assessments

Module 4 Risk Issues and Processes

• Vendor Risk Issue Configuration
• Lab 4.1 Configure Vendor Risk Issue Approval Workflow
• Vendor Risk Task Configuration
• Vendor Risk Process Workflows
• Lab 4.2 Configure Vendor Assessment Reminders Workflow

Module 5 Vendor Portal Configuration

• Contact Configuration
• Lab 5.1 Working in the Vendor Assessment Portal
• Vendor Assessment Processing and Configuration
• Lab 5.2 Vendor Risk Issues
• Lab 5.3: Vendor Risk Areas and Criteria Affecting Engagements

Module 6 Application Relationships

• ServiceNow GRC Overview
• Monitor Risk and Control Compliance
• Other Application Relationships
• Lab 6.1 GRC Integration

Module 7 Dashboards and Reports

This course is suitable for anyone who will be working on a ServiceNow implementation of the Vendor Risk Management application. Examples include:

• Technical Consultants, Implementers, Developers, and Architects who will be configuring, developing, or supporting the Vendor Risk Management applications
• Project/Program/Engagement Managers who will be leading implementation of the Vendor Risk Management application in ServiceNow
• Operations Managers who will oversee work completed using the Vendor Risk Management application in ServiceNow