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Vendor Risk Assessment Template

Stop scoring vendor risk inconsistently with this standardized assessment template

  • Vendor Information section
  •  Nine-Domain Risk Assessment 
  • Weighted scoring methodology by domain
  • Risk Classification framework
  • Mitigation requirements and owner assignment
  •  Key risk factors documentation
Vendor Risk Assessment Template
 

Your vendor assessments should be consistent, auditable, and fast. This template makes that happen. It covers the domains that actually matter: security, compliance, financial health, and operational resilience. Uses a nine-domain risk assessment framework with weighted scoring across cybersecurity, IT infrastructure, legal, data privacy, operations, financial, ESG, strategic, and geographic risks. Send to vendors, collect responses, score, move on. Most teams spend 4-6 weeks per critical vendor. With standardized framework, you cut that to 2-3 weeks.

Your vendor assessments should be consistent, auditable, and fast. This template makes that happen. It covers the domains that actually matter: security, compliance, financial health, and operational resilience. Uses a nine-domain risk assessment framework with weighted scoring across cybersecurity, IT infrastructure, legal, data privacy, operations, financial, ESG, strategic, and geographic risks. Send to vendors, collect responses, score, move on. Most teams spend 4-6 weeks per critical vendor. With standardized framework, you cut that to 2-3 weeks.

Why consistency matters

Vendor risk assessment is foundational to everything downstream: tiering decisions, monitoring priorities, remediation focus, board reporting. If your assessment is ad-hoc, everything else is unreliable.

A solid assessment framework gives you:

  • Comparable vendor scores - actually compare vendors against each other
  • Audit-ready documentation - show auditors exactly how you assessed and why
  • Faster cycles - standardized questions mean less customization
  • Clear escalation triggers - when a score drops, you know what to do

How to use this:

You have two paths forward. You can build this yourself using the template. Start by customizing it for your specific industry and risk profile, then send it to vendors to complete. As responses come in, you'll track them in a spreadsheet and score them manually. It takes time and effort to coordinate, but you own the entire process and can adjust it whenever you need.

Alternatively you can use ComplyScore®.
Instead of vendors filling out spreadsheets and you doing manual scoring, vendors answer once in the platform and scoring happens automatically. Risk trends appear in real-time, so you're not waiting weeks for data. Every vendor gets assessed using the exact same framework without shifting criteria or inconsistencies.
And here's the key difference: monitoring continues automatically without you having to rebuild the framework every quarter.