Vendor Risk Assessment Questionnaire Template for Austria

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Key Requirements PROMPT example:

Vendor Risk Assessment Questionnaire

"I need a Vendor Risk Assessment Questionnaire compliant with Austrian law for evaluating cloud service providers who will handle sensitive financial data, with particular emphasis on data protection and business continuity requirements."

Document background
The Vendor Risk Assessment Questionnaire is a critical tool used by organizations operating in Austria to evaluate and monitor their vendors' risk profiles and compliance status. This document is essential for conducting due diligence in accordance with Austrian legal requirements, including the DSG, GDPR, and relevant commercial laws. It helps organizations assess vendors across multiple risk dimensions including financial stability, data protection practices, information security controls, and regulatory compliance. The questionnaire should be used during vendor onboarding processes and periodic reassessments, particularly when dealing with critical suppliers or those handling sensitive data. It incorporates specific requirements from Austrian business law while aligning with EU-wide regulations, making it suitable for both domestic and international vendor relationships.
Suggested Sections

1. Introduction and Instructions: Overview of the questionnaire's purpose, instructions for completion, and confidentiality statements

2. Vendor Information: Basic company details, contacts, and business information

3. Business Profile and Operations: Company history, size, locations, key services/products, and organizational structure

4. Financial Assessment: Financial stability indicators, revenue information, and insurance coverage

5. Data Protection and Privacy: GDPR compliance, data handling practices, and privacy controls

6. Information Security: Security policies, controls, incident response, and certifications

7. Business Continuity and Disaster Recovery: Business continuity plans, backup procedures, and recovery capabilities

8. Third-Party Risk Management: Subcontractor management and supply chain risk controls

9. Compliance and Regulatory: Regulatory compliance, licenses, and certifications

10. Quality Management: Quality control processes and standards compliance

11. Declaration and Sign-off: Confirmation of accuracy and completeness of responses

Optional Sections

1. Cloud Services Security: Specific security questions for cloud service providers, including data center security and multi-tenancy controls

2. Healthcare Data Handling: Additional requirements for vendors handling medical or healthcare data

3. Financial Services Compliance: Specific requirements for vendors serving financial institutions

4. Environmental Impact: Assessment of environmental practices and sustainability measures

5. Physical Security: Facility security measures for vendors with physical access or storage requirements

6. Software Development: Development practices and security for software vendors

7. AI and Algorithm Assessment: Evaluation of AI ethics and algorithm transparency for relevant vendors

Suggested Schedules

1. Appendix A - Definitions: Detailed definitions of technical terms and concepts used in the questionnaire

2. Appendix B - Security Controls Checklist: Detailed checklist of required security controls and standards

3. Appendix C - Compliance Certificates: Templates for attaching relevant compliance certificates and audits

4. Appendix D - Incident Response Plan Template: Template for describing incident response procedures

5. Appendix E - Data Flow Diagrams: Templates for documenting data handling processes

6. Schedule 1 - Service-Specific Requirements: Detailed requirements based on specific services provided

7. Schedule 2 - Technical Requirements: Detailed technical specifications and requirements

8. Schedule 3 - SLA Requirements: Service Level Agreement requirements and metrics

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Financial Services

Healthcare

Information Technology

Telecommunications

Manufacturing

Retail

Professional Services

Energy and Utilities

Transportation and Logistics

Public Sector

Insurance

Construction

Education

Media and Entertainment

Relevant Teams

Procurement

Vendor Management

Risk Management

Compliance

Legal

Information Security

Data Protection

Supply Chain

Operations

IT Security

Quality Assurance

Internal Audit

Finance

Relevant Roles

Procurement Manager

Vendor Management Officer

Risk Management Director

Compliance Officer

Data Protection Officer

Information Security Manager

Legal Counsel

Supply Chain Manager

IT Security Officer

Chief Risk Officer

Operations Manager

Sourcing Specialist

Contract Manager

Quality Assurance Manager

Business Continuity Manager

Industries
EU General Data Protection Regulation (GDPR): Fundamental EU-wide data protection law that governs how personal data should be processed, stored, and transferred. Relevant for assessing vendor's data handling practices and compliance.
Austrian Data Protection Act (DSG): National implementation of GDPR and additional data protection requirements specific to Austria. Important for understanding local data protection requirements for vendors.
Austrian General Civil Code (ABGB): Governs general contract law and business relationships in Austria. Relevant for understanding the basic legal framework of vendor relationships.
Network and Information Systems Security Act (NISG): Austrian implementation of the EU NIS Directive, concerning cybersecurity requirements, particularly important for IT vendors and critical infrastructure providers.
Austrian Commercial Code (UGB): Regulates commercial transactions and business relationships. Important for understanding commercial obligations and responsibilities in vendor relationships.
EU Network and Information Security Directive (NIS Directive): EU-wide cybersecurity requirements that affect digital service providers and critical infrastructure operators.
Austrian Corporate Criminal Liability Act (VbVG): Relevant for assessing vendor's compliance history and criminal liability risks in corporate contexts.
Austrian Federal Public Procurement Act (BVergG): While primarily for public procurement, it provides good practice guidelines for vendor assessment and selection processes.
EU Supply Chain Due Diligence Directive: Upcoming EU regulation requiring companies to conduct due diligence in their supply chains regarding human rights and environmental impacts.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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