Third Party Risk Assessment

Third Party Risk Assessment Template for Philippines

Create a bespoke document in minutes, or upload and review your own.

4.6 / 5

4.8 / 5

Let's create your Third Party Risk Assessment

1. Select your governing law and document type:

2. Enter your key requirements:

3. Create your document to edit, review or download

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

"I need a Third Party Risk Assessment document for evaluating a cloud services provider based in Manila, with particular focus on data privacy compliance and cybersecurity controls, to be completed by March 2025 for our annual audit requirements."

Document background

The Third Party Risk Assessment document is essential for organizations operating in the Philippines who engage with external vendors, suppliers, or service providers. It has become increasingly critical due to the growing complexity of business relationships and stringent regulatory requirements in the Philippine business environment. This document is specifically designed to help organizations conduct thorough due diligence and risk evaluation of third parties, considering local regulatory requirements such as the Data Privacy Act of 2012, Cybercrime Prevention Act, and other relevant legislation. The assessment covers various risk domains including operational, technical, financial, and compliance risks, providing a comprehensive framework for decision-making and risk management. It serves as a crucial tool for organizations to demonstrate their commitment to due diligence and regulatory compliance while managing their third-party relationships effectively.

Suggested Sections

1. 1. Introduction: Overview of the assessment purpose, scope, and methodology used

2. 2. Executive Summary: High-level summary of key findings, critical risks identified, and primary recommendations

3. 3. Third Party Information: Detailed information about the third party being assessed, including business nature, services provided, and relationship context

4. 4. Risk Assessment Methodology: Detailed explanation of the risk assessment framework, scoring criteria, and evaluation methods used

5. 5. Operational Risk Assessment: Analysis of operational risks including business processes, service delivery, and operational capabilities

6. 6. Technical Risk Assessment: Evaluation of technical infrastructure, cybersecurity measures, and IT controls

7. 7. Compliance Risk Assessment: Assessment of regulatory compliance, including data privacy, industry-specific regulations, and legal requirements

8. 8. Financial Risk Assessment: Analysis of financial stability, credit risk, and business continuity capabilities

9. 9. Risk Findings and Rating: Detailed findings from the assessment, overall risk rating, and specific risk scores by category

10. 10. Recommendations: Specific recommendations for risk mitigation, prioritized by risk level and implementation feasibility

11. 11. Conclusion: Summary of assessment results, key action items, and next steps

Optional Sections

1. Environmental and Social Risk Assessment: Additional section for assessing environmental and social governance risks when the third party's operations have significant environmental or social impact

2. Supply Chain Risk Assessment: Detailed analysis of supply chain risks when the third party is part of a critical supply chain

3. Geographic Risk Assessment: Assessment of location-specific risks when the third party operates in multiple or high-risk jurisdictions

4. Data Privacy Impact Assessment: In-depth analysis of data privacy risks when the third party handles sensitive personal data

5. Business Continuity Assessment: Detailed evaluation of business continuity and disaster recovery capabilities for critical service providers

Suggested Schedules

1. Schedule A: Risk Assessment Matrices: Detailed risk scoring matrices and assessment criteria used in the evaluation

2. Schedule B: Technical Assessment Results: Detailed technical testing results, security scan reports, and technical control evaluations

3. Schedule C: Compliance Checklist: Detailed compliance requirements checklist and evaluation results

4. Schedule D: Interview and Documentation Log: List of interviews conducted and documents reviewed during the assessment

5. Schedule E: Risk Treatment Plan: Detailed risk mitigation plans with timelines and responsibilities

6. Appendix 1: Assessment Questionnaires: Copies of completed assessment questionnaires and responses

7. Appendix 2: Supporting Documentation: Relevant certificates, licenses, and supporting documents provided by the third party

8. Appendix 3: Technical Architecture Diagrams: Network diagrams, system architecture, and other technical documentation

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Financial Services

Technology

Healthcare

Retail

Manufacturing

Telecommunications

Business Process Outsourcing

E-commerce

Insurance

Education

Government Services

Logistics and Supply Chain

Relevant Teams

Risk Management

Compliance

Procurement

Legal

Information Security

Vendor Management

Internal Audit

Operations

Information Technology

Supply Chain

Corporate Governance

Relevant Roles

Chief Risk Officer

Compliance Manager

Procurement Manager

Vendor Management Specialist

Data Protection Officer

IT Security Manager

Legal Counsel

Operations Director

Chief Information Security Officer

Audit Manager

Supply Chain Manager

Business Continuity Manager

Chief Compliance Officer

Risk Analyst

Corporate Governance Officer

Find the exact document you need

Risk Assessment Summary

A comprehensive risk evaluation and analysis document compliant with Philippine regulations, assessing organizational risks and providing mitigation strategies.

��������Ƶ

How ��������Ƶ reduced drafting time by 75% for a legal firm

Let's create your Third Party Risk Assessment

Authors

Alex Denne

Find the exact document you need

Risk Assessment Summary

Manual Handling Risk Assessment Form

Hospital Compliance Risk Assessment

Bia Risk Assessment

Employee Risk Assessment

Risk Assessment For Welding Works

Museum Risk Assessment

Local Risk Assessment

Risk Assessment For Churches

Abrasive Wheels Risk Assessment

Hazard And Risk Assessment Form

Risk Assessment Policy

Liquidity Risk Assessment

Mobile Catering Risk Assessment

Information Technology Risk Assessment

Information Security Risk Assessment Report

Emergency Response Risk Assessment

Continuous Risk Assessment

Client Risk Assessment Questionnaire

Business Risk Assessment

Risk Management Audit Report

Risk Assessment Science Experiment

Risk Maturity Assessment Report

Risk Assessment Matrix Oil And Gas

Quality Risk Assessment SOP

Risk Assessment Plan For (Construction)

Rapid Risk Assessment

Home Risk Assessment

Government Risk Assessment

Building Risk Assessment

Risk Self Assessment

Risk And Control Assessment

Program Risk Assessment

Dance Risk Assessment

Smoking Risk Assessment

Plant And Equipment Risk Management Form

Patient Manual Handling Risk Assessment

Machine Guarding Risk Assessment

IT Security Assessment Report

Field Level Hazard Assessment

Application Security Risk Assessment

Indoor Event Risk Assessment

Audit Risk Assessment Memo

Workstation Risk Assessment Form

Vacant Property Risk Assessment

Stairs Risk Assessment

Agricultural Risk Assessment

Construction Risk Assessment Report

General Risk Assessment Form

Hairdressing Risk Assessment

E Signature Risk Assessment

Roofing Risk Assessment

Cafe Risk Assessment

Cleaning Validation Risk Assessment

Excavator Risk Assessment

Project Risk Assessment

Building Security Risk Assessment

Market Stall Risk Assessment

Project Assessment Matrix

Risk Assessment For Grass Cutting And Strimming

Site Security Assessment Report

Threat And Hazard Identification And Risk Assessment Guide

High Level Risk Assessment

Modern Slavery Risk Assessment

Baseline Risk Assessment

Vulnerability Assessment Matrix

Cloud Computing Risk Assessment

Hazard Identification Form

Procurement Risk Assessment Matrix

Training Risk Assessment

Plumbing Risk Assessment

Asset Criticality Assessment

Scaffold Risk Assessment And Method Statement

Financial Crime Risk Assessment

��Ƶ

How ��Ƶ reduced drafting time by 75% for a legal firm

�ұ�Ծ��’s Security Promise