Vendor Risk Assessment Form Template for Indonesia

A Vendor Risk Assessment Form helps Indonesian companies evaluate potential business partners and suppliers before working with them. It's a structured checklist that captures key information about a vendor's financial health, operational capabilities, data security practices, and compliance with local regulations like OJK rules and anti-corruption laws.

Organizations use these forms to protect themselves from supply chain disruptions, regulatory violations, and reputational damage. The assessment typically covers areas like the vendor's business licenses, past performance, insurance coverage, and their own third-party relationships - all crucial factors under Indonesian business law and risk management guidelines.

Use a Vendor Risk Assessment Form before signing any new supplier agreements or when reviewing existing vendor relationships in Indonesia. This evaluation becomes especially important when dealing with vendors who handle sensitive data, provide critical services, or represent a significant portion of your supply chain.

Complete the assessment during vendor selection, before contract renewals, and when major changes occur in your vendor's business structure or regulatory environment. Indonesian companies regulated by OJK need these assessments to demonstrate proper due diligence, while companies in sectors like healthcare or finance must conduct them to maintain compliance with data protection and industry-specific regulations.

• Basic Vendor Assessment: Covers fundamental areas like company information, financial stability, and basic compliance - ideal for low-risk suppliers in Indonesia
• Critical Supplier Form: Detailed evaluation including operational resilience, business continuity plans, and risk controls - used for key vendors providing essential services
• IT Vendor Assessment: Focuses on cybersecurity measures, data protection compliance, and technical capabilities - particularly important under Indonesian data protection laws
• Financial Services Variant: Specialized version meeting OJK requirements, including additional scrutiny of financial controls and regulatory compliance
• Supply Chain Risk Form: Emphasizes logistics, delivery capabilities, and geographic risk factors - crucial for manufacturing and retail sectors

• Procurement Teams: Lead the vendor assessment process, coordinate with other departments, and maintain the assessment forms and documentation
• Risk Management Officers: Review and evaluate vendor responses, assign risk ratings, and recommend risk mitigation measures
• Legal Department: Ensures the form aligns with Indonesian regulations, particularly OJK requirements and data protection laws
• Vendor Companies: Complete the assessment forms, provide supporting documentation, and maintain ongoing compliance
• Compliance Officers: Monitor vendor relationships, track assessment outcomes, and ensure adherence to internal policies
• Senior Management: Make final decisions based on assessment results and approve high-risk vendor relationships

• Company Profile: Gather vendor's basic information, including legal name, business licenses, tax ID, and operational history in Indonesia
• Risk Categories: Define specific areas of assessment based on your industry requirements and OJK guidelines
• Compliance Records: Check vendor's regulatory compliance history, certifications, and any past violations
• Financial Data: Request financial statements, credit ratings, and bank references
• Security Measures: List required cybersecurity, data protection, and physical security standards
• Performance Metrics: Establish clear evaluation criteria and scoring methods
• Documentation: Prepare a checklist of required supporting documents aligned with Indonesian business regulations

• Vendor Information Section: Complete legal entity details, business registration numbers, and tax identification under Indonesian law
• Risk Assessment Criteria: Clear evaluation metrics aligned with OJK guidelines and industry standards
• Compliance Declaration: Statements confirming adherence to Indonesian regulations, including anti-corruption and data protection laws
• Security Requirements: Specific measures for data handling, cybersecurity, and physical security protocols
• Performance Standards: Measurable service levels and quality benchmarks
• Documentation Requirements: List of mandatory supporting documents and certifications
• Authorization Section: Signature blocks for authorized representatives with company stamps

A Vendor Risk Assessment Form differs significantly from a Vendor Risk Management Policy. While both documents deal with vendor relationships, they serve distinct purposes in Indonesian business operations.

• Scope and Purpose: The assessment form is a specific evaluation tool for individual vendors, while the management policy sets overall guidelines and procedures for handling all vendor relationships
• Timing of Use: Assessment forms are completed during vendor selection or review periods, whereas the policy remains active continuously as a governance document
• Content Detail: Forms capture specific data points and risk metrics about individual vendors, while policies outline broad risk management principles and organizational procedures
• Legal Standing: Assessment forms serve as evidence of due diligence under OJK regulations, while policies demonstrate organizational compliance with risk management requirements
• Flexibility: Forms can be customized for different vendor types, but policies maintain consistent standards across all vendor relationships