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PCI-DSS Vendor Management and Third-Party Risk Assessment Checklist

A detailed checklist for assessing and managing risks associated with third-party vendors and service providers who have access to cardholder data, ensuring their compliance with PCI-DSS requirements and maintaining overall data security.

PCI-DSS Vendor Management and Third-Party Risk Assessment Checklist

by: audit-now
4.7

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About This Checklist

The PCI-DSS Vendor Management and Third-Party Risk Assessment Checklist is a vital tool for financial services organizations to evaluate and manage risks associated with third-party service providers who have access to cardholder data. This comprehensive checklist helps ensure that vendors and service providers adhere to PCI-DSS requirements, maintaining the security of sensitive financial information throughout the supply chain. By systematically assessing third-party risks, organizations can identify potential vulnerabilities, enforce compliance, and protect their customers' data from breaches or unauthorized access.

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Industry

Financial Services

Standard

PCI DSS - Payment Card Industry Data Security Standard

Workspaces

Corporate offices
Procurement Offices
Office Buildings

Occupations

Vendor Risk Manager
Procurement Specialist
Compliance Officer
Information Security Analyst
Third-Party Risk Assessor
1
Is the vendor compliant with PCI-DSS standards?
2
What are the key findings from the third-party risk assessment?
3
On a scale of 1 to 10, how would you rate the risk level associated with this vendor?
Min: 1
Target: 5
Max: 10
4
When is the next scheduled review for this vendor?
5
What is the current status of risk mitigation actions for this vendor?
6
Has the due diligence process been completed for this vendor?
7
Please provide a summary of the findings from the due diligence process.
8
What is the vendor's financial stability score based on your assessment (1-100)?
Min: 1
Target: 75
Max: 100
9
When was the last due diligence assessment conducted for this vendor?
10
Is the vendor compliant with all relevant regulations?
11
Does the vendor have adequate data protection measures in place?
12
Does the vendor have a documented incident response plan?
13
How often does the vendor conduct security training for its employees (in months)?
Min: 1
Target: 6
Max: 12
14
When was the last security audit conducted for this vendor?
15
How does the vendor manage third-party risks?

FAQs

Vendor management is crucial for PCI-DSS compliance because third-party service providers often have access to cardholder data, and their security practices can directly impact an organization's overall compliance and data security posture.

A vendor risk assessment should include evaluation of the vendor's security policies, procedures, and controls, their PCI-DSS compliance status, data handling practices, incident response plans, and contractual obligations related to data protection.

Third-party assessments should be conducted at least annually, or more frequently if there are significant changes in the vendor's services, the organization's risk profile, or in response to security incidents.

Organizations should maintain a list of service providers, written agreements acknowledging their responsibility for cardholder data security, PCI-DSS compliance status reports, and ongoing monitoring and assessment records for each vendor.

Organizations can ensure ongoing vendor compliance through regular assessments, contractual requirements for PCI-DSS adherence, periodic security reviews, and by establishing clear communication channels for reporting security incidents or changes in data handling practices.

Benefits of PCI-DSS Vendor Management and Third-Party Risk Assessment Checklist

Ensures thorough vetting of third-party service providers handling cardholder data

Helps maintain consistent PCI-DSS compliance across the entire supply chain

Reduces the risk of data breaches through third-party vulnerabilities

Facilitates better oversight and management of vendor relationships

Supports compliance with PCI-DSS Requirement 12.8 and 12.9