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Risk Management Agreement
"I need a Risk Management Agreement between our Indonesian bank and a third-party risk management consultant, focusing on cybersecurity risk assessment and monitoring, with services to commence from March 2025."
1. Parties: Identification of the contracting parties, including their legal status and registration details under Indonesian law
2. Background: Context of the agreement, including the purpose of the risk management arrangement and regulatory context
3. Definitions: Detailed definitions of terms used throughout the agreement, including specific risk management terminology
4. Scope of Services: Detailed description of the risk management services to be provided
5. Risk Management Framework: Overview of the risk management approach, methodologies, and frameworks to be implemented
6. Roles and Responsibilities: Detailed breakdown of each party's obligations and responsibilities in the risk management process
7. Governance Structure: Description of the governance framework, including oversight committees and reporting lines
8. Reporting Requirements: Specifications for risk reporting, including frequency, format, and content requirements
9. Compliance Requirements: Obligations to comply with relevant Indonesian regulations and internal policies
10. Confidentiality: Provisions regarding the handling and protection of confidential information
11. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
12. Fees and Payment: Financial terms including fee structure, payment schedules, and related conditions
13. Liability and Indemnification: Allocation of risks and responsibilities between parties
14. Dispute Resolution: Procedures for resolving disputes under Indonesian law
15. General Provisions: Standard contractual provisions including notices, amendments, and governing law
1. Business Continuity and Disaster Recovery: Required when the agreement involves critical risk management services that need continuous operation
2. Technology and Systems: Needed when the risk management services involve specific software or technical systems
3. Data Protection and Privacy: Required when personal or sensitive data processing is involved
4. Insurance Requirements: Needed when specific insurance coverage is required for risk management activities
5. Training and Support: Include when the agreement involves provision of training or ongoing support services
6. Performance Metrics: Required when specific KPIs or service levels need to be maintained
7. Regulatory Reporting: Include when there are specific regulatory reporting obligations to OJK or other authorities
8. Subcontracting: Needed when third-party service providers may be involved in delivering services
1. Schedule 1 - Service Level Agreement: Detailed specifications of service levels and performance metrics
2. Schedule 2 - Fee Schedule: Detailed breakdown of fees, charges, and payment terms
3. Schedule 3 - Risk Assessment Framework: Detailed methodology and criteria for risk assessment
4. Schedule 4 - Reporting Templates: Standard formats for various required reports
5. Schedule 5 - Governance Structure: Detailed organizational structure and governance framework
6. Schedule 6 - Escalation Matrix: Procedures and contact details for issue escalation
7. Appendix A - Key Personnel: List of key personnel and their roles from both parties
8. Appendix B - Compliance Requirements: Detailed regulatory and compliance requirements
9. Appendix C - Technical Requirements: Technical specifications and requirements if applicable
Authors
Financial Services
Banking
Insurance
Asset Management
Technology
Manufacturing
Energy
Mining
Healthcare
Infrastructure
Telecommunications
Real Estate
Transportation
Retail
Professional Services
Risk Management
Legal
Compliance
Internal Audit
Finance
Operations
Corporate Governance
Strategic Planning
Business Continuity
Internal Control
Regulatory Affairs
Chief Risk Officer
Risk Manager
Compliance Officer
Chief Financial Officer
Legal Counsel
Risk Assessment Specialist
Corporate Governance Officer
Internal Audit Manager
Operations Director
Chief Executive Officer
Risk Control Officer
Regulatory Compliance Manager
Business Continuity Manager
Strategy Director
Head of Operations
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