Vendor Risk Assessment Template

Third-party vendors are a leading cause of data breaches — yet most organizations have no structured process for assessing the security posture of the vendors handling their sensitive data. This Vendor Risk Assessment Template provides a complete third-party risk management (TPRM) program framework: an 8-worksheet workbook with vendor inventory, a 25-question security assessment questionnaire, a 4-tier risk scoring matrix, a 25-item due diligence checklist, a remediation tracker for identified gaps, and a contract/agreement register linking each vendor to their DPA and security addenda.

The risk scoring model classifies vendors into four tiers based on data sensitivity and operational dependency: Tier 1 (critical/high-risk requiring annual full assessments), Tier 2 (significant risk requiring annual questionnaire), Tier 3 (moderate risk requiring biennial review), and Tier 4 (low risk requiring registration only). This tiering approach makes TPRM scalable — you apply rigorous scrutiny to your highest-risk vendors without drowning your team in assessments for low-risk suppliers. For SOC 2 and ISO 27001 compliance, this template provides the vendor management evidence required. Pair with the [IT Security Assessment Checklist](/templates/it-security-assessment-checklist) for assessing your own controls.