Vendor Risk Assessment Questionnaire Template for Denmark

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Key Requirements PROMPT example:

Vendor Risk Assessment Questionnaire

I need a comprehensive Vendor Risk Assessment Questionnaire for evaluating cloud service providers in the healthcare sector, with specific emphasis on GDPR compliance and data protection requirements under Danish law, to be implemented by March 2025.

What is a Vendor Risk Assessment Questionnaire?

The Vendor Risk Assessment Questionnaire is a critical tool for organizations operating under Danish jurisdiction to evaluate and monitor their third-party relationships. This document is typically used during vendor onboarding processes and periodic reviews, helping organizations assess potential risks associated with vendor partnerships. The questionnaire covers various risk domains including information security, data protection, financial stability, operational resilience, and regulatory compliance, with specific emphasis on Danish legal requirements and EU regulations such as GDPR. It serves as a comprehensive due diligence instrument, enabling organizations to make informed decisions about vendor relationships while maintaining compliance with relevant regulatory frameworks and industry standards.

What sections should be included in a Vendor Risk Assessment Questionnaire?

1. 1. Vendor Information: Basic information about the vendor including company details, key contacts, business structure, and service overview

2. 2. Business Profile and Operations: Detailed information about the vendor's business operations, including years in business, size, locations, and key services

3. 3. Financial Stability Assessment: Questions regarding financial health, including revenue information, financial statements, and insurance coverage

4. 4. Information Security Controls: Assessment of IT security measures, including data protection, access controls, and security certifications

5. 5. Data Privacy and Protection: GDPR compliance assessment and general data protection practices

6. 6. Business Continuity and Disaster Recovery: Evaluation of business continuity planning and disaster recovery capabilities

7. 7. Third-Party Risk Management: Assessment of vendor's own supplier management and subcontractor relationships

8. 8. Compliance and Regulatory Framework: Review of regulatory compliance, licenses, and certifications

9. 9. Physical Security: Assessment of physical security measures at vendor facilities

10. 10. Human Resources Security: Evaluation of employee screening, training, and security awareness programs

What sections are optional to include in a Vendor Risk Assessment Questionnaire?

1. Cloud Services Security: Specific section for vendors providing cloud-based services, including cloud security controls and data center details

2. Healthcare Data Management: Additional questions for vendors handling healthcare-related data or providing healthcare services

3. Financial Services Compliance: Specific section for vendors providing services to financial institutions

4. Environmental Impact Assessment: Additional questions for vendors with significant environmental impact or sustainability concerns

5. Manufacturing and Supply Chain: Specific section for vendors involved in manufacturing or supply chain operations

6. Software Development Practices: Detailed assessment for vendors providing software development services

7. Professional Services Delivery: Specific questions for consulting or professional services providers

What schedules should be included in a Vendor Risk Assessment Questionnaire?

1. Schedule A: Required Documentation Checklist: List of all required supporting documents, certificates, and evidence

2. Schedule B: Security Controls Framework: Detailed technical security requirements and controls framework

3. Schedule C: Compliance Certificates: List of required compliance certificates and standards adherence proof

4. Schedule D: Service Level Agreements: Performance metrics and service level requirements

5. Schedule E: Incident Response Requirements: Detailed requirements for security incident handling and reporting

6. Appendix 1: Glossary of Terms: Definitions of technical and business terms used in the questionnaire

7. Appendix 2: Risk Rating Matrix: Framework for evaluating and scoring vendor responses

8. Appendix 3: Data Processing Requirements: Specific requirements for handling and processing data under GDPR

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

Manufacturing

Retail

Professional Services

Telecommunications

Energy

Transportation

Public Sector

Education

Construction

Pharmaceuticals

Insurance

Relevant Teams

Procurement

Risk Management

Information Security

Legal

Compliance

Vendor Management

IT Security

Internal Audit

Operations

Supply Chain Management

Relevant Roles

Chief Risk Officer

Procurement Manager

Vendor Management Specialist

Information Security Manager

Data Protection Officer

Compliance Manager

Legal Counsel

IT Security Officer

Supply Chain Manager

Chief Information Security Officer

Risk Assessment Specialist

Contract Manager

Operations Manager

Audit Manager

Third-Party Risk Manager

Industries
General Data Protection Regulation (GDPR): EU's comprehensive data protection law that applies to all organizations processing EU residents' data. Essential for assessing vendor's data handling practices and compliance.
Danish Data Protection Act (Databeskyttelsesloven): Danish implementation of GDPR, providing specific national requirements for data processing and protection.
Danish Financial Business Act (Lov om finansiel virksomhed): Regulates financial institutions and their relationships with vendors, including requirements for outsourcing and risk management.
Danish Companies Act (Selskabsloven): Governs corporate entities in Denmark, relevant for understanding vendor's legal structure and compliance obligations.
NIS2 Directive (Network and Information Security): EU directive for cybersecurity requirements, important for assessing vendor's IT security measures and incident response capabilities.
Danish Marketing Practices Act (Markedsføringsloven): Regulates marketing and business practices, relevant for assessing vendor's commercial practices and compliance.
Danish Bookkeeping Act (Bogføringsloven): Sets requirements for accounting and record-keeping, important for vendor's financial compliance assessment.
Danish Working Environment Act (Arbejdsmiljøloven): Covers workplace safety and environmental requirements, relevant for assessing vendor's operational compliance.
EU Environmental Compliance Requirements: Various EU environmental regulations that may affect vendor operations and compliance requirements.
Danish Contract Law (Aftaleloven): Governs formation and enforcement of contracts in Denmark, fundamental for vendor relationships and agreements.
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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