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Risk Management in the Vendor Relationship Life Cycle: Part 3 – Terminating


Cost Free
Presentation Length 1.0 hour

Recorded DateSeptember 20, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaManagement Services
Course LevelBasic
Course Description

This session is the third in a three-part webinar series on risk management through the life cycle of the vendor relationship. In this webinar, we focus on terminating a third-party relationship.

Goodbyes are difficult; most humans tend to avoid them. So, it is no surprise that the most neglected part of the vendor relationship life cycle is terminating a relationship. Even if the relationship was a good one and served its purpose, termination should not be approached haphazardly. Rather, the terms of offboarding should be defined in contracts and controls much earlier in the relationship—during the onboarding process. The last thing an organization wants at offboarding is to look for termination provisions and notice they’re missing!

Join this webinar and learn the four steps to terminating a relationship: 1) contract and security policy review, 2) property and data disposition, 3) disposition of access, and 4) security audits and onsite inspection.

Learning Objectives:

  • Recognize why companies often avoid terminating a vendor relationship that is no longer serving its purpose

  • Identify how contracts and controls included in the onboarding process will help if it becomes necessary to terminate a relationship

  • Recall the four steps to terminating a relationship

Review Part 1 of this series HERE

Review Part 2 of this series HERE

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Michael Rasmussen

GRC 20/20 Research
Pundit & Analyst
(888) 365-4560

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The GRC Pundit @ GRC 20/20 Research, Michael Rasmussen is an internationally recognized pundit on governance, risk management, and compliance (GRC) – with specific expertise on the topics of GRC strategy, process, information, and technology architectures and solutions. With 30+ years of experience, Michael helps organizations improve GRC processes, design and implement GRC architectures and select solutions that are effective, efficient, and agile. He is a sought-after keynote speaker, author, and advisor and is noted as the “Father of GRC” – being the first to define and model the GRC market in February 2002 while at Forrester Research, Inc.

About Our Sponsor

Quantivate is a provider of web-based governance, risk, and compliance (GRC) technology and service solutions to organizations both large and small nationwide. Founded in 2005 with the release of its Business Continuity Software, the company has grown to feature a full suite of solutions for GRC management, including Business Continuity, Vendor Management, Enterprise Risk Management, IT Risk Management, Internal Audit, Compliance Management, Complaint Management, and Policy & Document Management.