Questionnaire Items Measuring Risk Management

Definition: Risk represents an uncertainty that can either positively or negatively impact the achievement of business goals. Risk Management is the process of recognizing, evaluating, and analyzing risks to reduce the occurrence of, or minimize the impact of, adverse events or identify potential opportunities. Effective risk management can improve responsiveness to adverse events and the information gathered from risk management can help improve strategic decision making.

Risk Management is an important skill for a manager. Individuals must:

Prioritization: Prioritize risks based on likelihood of occurrence and/or impact on the organization.
Analysis: Conduct comprehensive risk analysis and prioritization, employing advanced tools and regular assessments to minimize adverse outcomes and inform strategic decisions.
Awareness: Effectively identify, evaluate, and mitigate potential workplace risks while ensuring regulatory compliance and understanding financial implications.
Consequences: Effectively assesses and manages risk levels by evaluating impacts on market, reputation, infrastructure, and finances, while identifying opportunities to leverage risks for strategic advantage.
Action: Manage, mitigate, control, and/or embrace risk. These actions help to maintain a balanced and resilient approach to risk management.

Individuals with strong risk management skills identify, evaluate, and prioritize risks, and then develop strategies to handle them effectively. The aim is to reduce the likelihood and impact of risks through proactive measures, such as implementing safety protocols or diversifying investments. This focuses on monitoring and adjusting risk management strategies to ensure they remain effective over time, adapting to any new or evolving risks. Sometimes, taking calculated risks can lead to significant rewards. Embracing risk means recognizing potential opportunities and strategically leveraging them to the company's advantage.

Surveys Measuring Risk Management:
Survey 1 (4-point scale; Competency Comments)
Survey 2 (4-point scale; Competency Comments)
Survey 3 (5-point scale; Competency Comments)
Survey 4 (5-point scale; radio buttons)
Survey 5 (4-point scale; words)
Survey 6 (4-point scale; words)
Survey 7 (5-point scale; competency comments; N/A)
Survey 8 (3-point scale; Agree/Disagree words; N/A)
Survey 9 (3-point scale; Strength/Development; N/A)
Survey 10 (Comment boxes only)
Survey 11 (Single rating per competency)
Survey 12 (Slide-bar scale)

360-Degree Feedback Questionnaire Items

The Risk Management competency in a 360-Degree Feedback assessment includes items measuring the ability to: evaluate and analyze risk; to be aware of risk and its consequences or opportunities; to manage, mitigate, control, and/or embrace risk.

Evaluates Risk

Determines how the risk management information is to be used.
Identifies what actions the organization is willing to take.
Uses risk management to remain in compliance with regulations.
Determines the risk tolerance of the company.
Evaluates the impact of certain events on the attainment of corporate objectives.
Evaluates risks in terms of their consequences and likelihood of occurrence.
Uses risk management to make better strategic decisions.
Uses risk management to ensure smooth operations.
Evaluates the probability of a risk event occurrence.
Uses risk management to be more effective in identifying and implementing projects.

Risk Analysis

Gathers information regarding potential risks.
Evaluates risks against acceptable risk levels.
Performs a risk analysis as needed.
Performs regular risk analyses to minimize adverse outcomes.
Prioritizes risks based on probability of occurrence and possible impact to the company.
Determines which are the serious threats.
Uses Monte Carlo Risk Simulations and decision analytics to create the best possible strategic decisions.
Prioritizes risks to act on critical issues first.
Prioritizes the risks to determine the most pressing needs.
Quantifies current business practices to make better informed decisions.
Conducts internal audit of risk assessments.

Risk Awareness

Has the knowledge and skills to accurately identify risks in the workplace.
Accurately perceives potential risks in the workplace and initiates preventative measures.
Accurately perceives potential risks in the workplace.
Is aware of the financial implications of certain risks.
Is aware of process safety management.
Perceives the risks of different work tasks and activities.
Understands the possible financial risks of different events.
Identifies the most significant risks from business operations.
Understands how to meet regulatory compliance.
Understands that risk may represent a threat or an opportunity.

Determines the Consequences

Accurately determines appropriate risk levels (i.e., levels of acceptable risk).
Recognizes the potential financial impact of specific risks.
Determines if the level of risk is tolerable.
Determines the impact of specific risks on infrastructure.
Determines the potential outcome of adverse risk events.
Looks for opportunities to turn a risk event into an advantage for the company.
Seeks to capitalize on risks.
Determines the impact of specific risks on reputation.
Recognizes the potential impact of systemic risks.
Determines the impact of specific risks on marketplace.
Determines the impact of specific risks on finances.
Anticipates the consequences of different potential risk events.

Design Initiatives

Creates a risk management strategy for the organization.
Develops policies for risk management.
Creates a risk profile for projects and teams.
Develops policies to address risk situations in the workplace.
Creates a risk management strategy for the department.
Aligns risk management activities with existing processes.
Creates dynamic and responsive enterprise risk management processes.
Determines the proper tools to efficiently manage the risk.
Designs risk management activities that support the success of the company.
Establishes the context for risk management activities.
Designs risk response activities that are proportionate to the level of risk.
Outlines the risk management framework including responsibilities, description of the process, and guidance on evaluating risk criteria and appropriate risk responses.
Determines a proportional response in relation to the level of risk.

Manages Risk

Effectively manages risk for the department.
Seeks to maintain the long-term viability of the Company through effective risk management.
Bases decisions on patterns found in fluid/changing information.
Works effectively to avoid risk.
Works effectively to transfers risk.
Views risks as potential opportunities for profit.
Accepts risk as needed.
Works effectively to mitigate risks.
Implements strategic risk management in an objective and tactical way.

Mitigates Risk

Uses data from the purchasing department to anticipate possible supply chain risks.
Ensures all components of risk management are in place.
Takes steps to minimize the impact/damage of the risk events.
Minimizes the increase in costs due to global events or supply chain issues.
Knows how to obtain desired results with minimal losses.
Takes steps to contain the costs of responding to such events.
Increases business resilience.
Implement strategies to mitigate risks.
Minimizes operational setbacks and delays.
Takes steps to reduce the occurrence of the risk events.
Uses financial data to mitigate financial risks.

Controls Risk

Develops appropriate strategies to minimize risks.
Aware of appropriate actions to minimize risks.
Implements changes to reduce the chances of critical incidents in the future.
Recognizes that small changes may snowball into major events.
Determines the amount of deviation from the plan that will be tolerated.
Establishes good controls over the process to better manage risks.
Adopts a risk-based approach to establishing systems of internal controls.
Seeks to reduce uncertainty (risks) in the supply chain.
Ensures that any risky decisions taken are based on informed decision making.

Embraces Risk

Rewards risky ideas that may yield significant benefits.
Takes calculated risks by effectively recognizing and managing them.
Seeks to add value to the company by embracing risk.
Seeks specific risks that will create opportunities to advance the department/company.
Identifies and mitigates risks while making informed, strategic decisions.
Turns risks into opportunities.
Turns risks into opportunities for advancement.
Adds value to the organization through acceptance of certain risk.
Identifies opportunities that may be created by taking specific risks.

Monitors Risk

Tracks and monitors incidents that may increase the risk of adverse consequences.
Tracks risks in a project.
Monitors risk events and notifies appropriate stakeholders.
Monitors the effectiveness of risk management strategies.
Conducts regular audit of the risk management framework.
Monitors enterprise risk management activities for their impact and effectiveness on mitigating risks.
Uses actionable data and analytics to improve risk tolerance.
Performs monthly risk management assessments.

Risk Response

Able to adapt quickly to changing situations.
Responds appropriately to unexplained or unanticipated events.
Effectively responds to critical situations to reduce potential for losses.
Avoids maintaining the status quo (or standard operating procedures) when addressing new and influential situations.
Identifies the controls needed.
Decides what actions will be taken.
Create contingency plans.
Creates a level of resilience in the organization.
Reduces risk to a manageable level.
Create continuity plans.

Responsibilities

Is concerned about process safety management.
Seeks to increase safety in the workplace.
Uses risk data to generate insights and drive strategic decisions.
Is responsible for regulatory, strategic, operational and project risk management.
Integrates risk management processes, data, and analytics across the company.

Supports the Process

Committed to implementing rules and procedures to minimize risk.
Improves process safety where possible.
Works within constraints of the organization.
Integrates risk management into strategic decision making.
Provides support to managers involved in the risk management process.
Ensures employees are aware of potential impacts by increasing risk visibility.

Risk Communication

Maintains open communication with other departments.
Promotes risk management competence throughout the organization.
Establish roles, responsibilities, procedures.
Fosters an awareness and a shared responsibility for managing risk at all levels of the Company.
Communicates the protocols.
Presents regular/monthly reports to the audit committee.

Training

Offers training to reduce safety incidents in the workplace.
Attends risk management seminars and conferences.
Is knowledgeable of standard risk management principles.
Creates informative guides regarding potential risks and risky behaviors.

Employee Opinion Survey Items

Employees that have a strong Risk Management skills help the organization avoid critical events and recover quickly from setbacks.

Evaluates Risk

My supervisor uses risk management to remain in compliance with regulations.
My supervisor uses risk management to make better strategic decisions.
My manager evaluates risks in terms of their consequences and likelihood of occurrence.
Senior leadership of the company is effective in determining an acceptable level of risk tolerance for the company.
Our department effectively uses risk management information.
Senior leadership evaluates the impact of certain events on the attainment of corporate objectives.
I understand how to evaluate the probability of a risk event occurrence.
My supervisor uses risk management to be more effective in identifying and implementing projects.

Risk Analysis

I am able to quantify current business practices to make better informed decisions.
My manager determines which are the serious threats.
Our department regularly performs a risk analyses to minimize adverse outcomes.
The company's Internal Audit Department regularly conducts internal audits of risk assessments.
I am able to evaluate risks against acceptable risk levels.
My manager effectively prioritizes risks to act on critical issues first.
Senior leadership prioritizes risks based on probability of occurrence and possible impact to the company.
I am able to prioritize the risks facing the department to determine the most pressing needs.
Our department performs a risk analysis as needed.
My manager uses Monte Carlo Risk Simulations and decision analytics to create the best possible strategic decisions.

Risk Awareness

My manager accurately perceives potential risks in the workplace and initiates preventative measures.
I am aware of the financial implications of certain risks.
I have the knowledge and skills to accurately identify risks in the workplace.
My manager understands the possible financial risks of different events.
I can identify the most significant risks from business operations.
Supervisors correctly perceive the risks of different work tasks and activities.
My manager understands how to meet regulatory compliance.
I am aware of process safety management.
Senior Leaders understand that risk may represent a threat or an opportunity.
My manager accurately perceives potential risks in the workplace.

Determines the Consequences

My manager accurately determines appropriate risk levels (i.e., levels of acceptable risk).
My manager determines if the level of risk is tolerable.
My manager seeks to capitalize on risks.
Supervisors are effective in determining the potential outcome of adverse risk events.
Senior leaders determine the impact of specific risks on finances.
Our department effectively anticipates the consequences of different potential risk events.
My manager looks for opportunities to turn a risk event into an advantage for the company.
Leadership recognizes the potential impact of systemic risks.

Design Initiatives

The project leader creates a risk profile for projects and teams.
Managers align risk management activities with existing processes.
My supervisor determines the proper tools to efficiently manage the risk.
Senior leadership creates a risk management strategy for the organization.
The Supervisor designs risk response activities that are proportionate to the level of risk.
Our department develops policies for risk management.
Supervisor are able to determine a proportional response in relation to the level of risk.
My manager develops policies to address risk situations in the workplace.
Our department effectively outlines the risk management framework including responsibilities, description of the process, and guidance on evaluating risk criteria and appropriate risk responses.
Our department designs risk management activities that support the success of the company.
Senior leadership creates dynamic and responsive enterprise risk management processes.

Manages Risk

My manager implements strategic risk management in an objective and tactical way.
I am willing to accept risk as needed.
Managers are able to view risks as potential opportunities for profit.
My manager is effective in basing decisions on patterns found in fluid/changing information.
Senior leadership seeks to maintain the long-term viability of the Company through effective risk management.
Project managers effectively manage risk for the department.
My manager works effectively to avoid risk.
My manager works effectively to mitigate risks.

Mitigates Risk

Supervisors know how to obtain desired results with minimal losses.
Managers minimize operational setbacks and delays.
My manager takes steps to contain the costs of responding to such events.
My manager implements strategies to mitigate risks.
Senior leaders takes steps to reduce the occurence of the risk events.
My manager uses data from the purchasing department to anticipate possible supply chain risks.
Our department minimizes the increase in costs due to global events or supply chain issues.
Our department ensures all components of risk management are in place.
Supervisors take steps to minimize the impact/damage of the risk events.

Controls Risk

My manager develops appropriate strategies to minimize risks.
Project managers will effectively determine the amount of deviation from the plan that will be tolerated.
Our department establishes good controls over the process to better manage risks.
My supervisor recognizes that small changes may snowball into major events.
Our company adopts a risk-based approach to establishing systems of internal controls.
Our department implements changes to reduce the chances of critical incidents in the future.
My manager ensures that any risky decisions taken are based on informed decision making.
My manager seeks to reduce uncertainty (risks) in the supply chain.
Our department is aware of appropriate actions to minimize risks.

Embraces Risk

Our department seeks to add value to the company by embracing risk.
My manager identifies and mitigates risks while making informed, strategic decisions.
Our department adds value to the organization through acceptance of certain risk.
Senior leaders identify opportunities that may be created by taking specific risks.
Managers turn risks into opportunities for advancement.
My manager takes calculated risks by effectively recognizing and managing them.
Our department seeks specific risks that will create opportunities to advance the company.
Supervisors reward risky ideas that may yield significant benefits.

Monitors Risk

Our department monitors enterprise risk management activities for their impact and effectiveness on mitigating risks.
My manager monitors risk events and notifies appropriate stakeholders.
My team monitors the effectiveness of risk management strategies.
Our team tracks and monitors incidents that may increase the risk of adverse consequences.
The project lead effectively tracks risks in the project.
Our department regularly conducts audits of the risk management framework.
Our department performs monthly risk management assessments.

Risk Response

Supervisors decides what actions will be taken after a critical incident.
Managers effectively respond to critical situations to reduce potential for losses.
Senior leadership has created continuity plans.
The company responds appropriately to unexplained or unanticipated events.
Our department avoids maintaining the status quo (or standard operating procedures) when addressing new and influential situations.
My manager identifies the controls needed to respond appropriately to risk events.
Our department reduces risk to a manageable level.
My manager is able to adapt quickly to changing situations.
Our department has created contingency plans.
My manager creates a level of resilience in the organization.

Responsibilities

I seek to increase safety in the workplace.
My manager is responsible for regulatory, strategic, operational and project risk management.
My supervisor is concerned about process safety management.
Our department helps to integrate risk management processes, data, and analytics across the company.
Senior leadership uses risk data to generate insights and drive strategic decisions.

Supports the Process

My manager improves process safety where possible.
Supervisors ensure employees are aware of potential impacts by increasing risk visibility.
My supervisor is committed to implementing rules and procedures to minimize risk.
Our department integrates risk management into strategic decision making.
Senior leadership provides support to managers involved in the risk management process.

Risk Communication

Senior leadership fosters an awareness and a shared responsibility for managing risk at all levels of the Company.
My manager establishes roles, responsibilities, procedures.
My supervisor communicates the safety protocols.
The HR department promotes risk management competence throughout the organization.
Our department maintains open communication with other departments in regards to risk avoidance and mitigation.
I present regular/monthly reports to the audit committee.

Training

My supervisor offers training to reduce safety incidents in the workplace.
I am knowledgeable of standard risk management principles.
I have attended risk management seminars and conferences.
I create informative guides regarding potential risks and risky behaviors.

Self-Assessment Items

Evaluates Risk

I use risk management to be more effective in identifying and implementing projects.
I determine the risk tolerance of the company.
I use risk management to ensure smooth operations.
I evaluate the impact of certain events on the attainment of corporate objectives.
You use risk management to make better strategic decisions.
I evaluate the probability of a risk event occurrence.
You evaluate risks in terms of their consequences and likelihood of occurrence.
You use risk management to remain in compliance with regulations.
I determine how the risk management information is to be used.
I identify what actions the organization is willing to take.

Risk Analysis

You evaluate risks against acceptable risk levels.
You perform a risk analysis as needed.
You gather information regarding potential risks.
You perform regular risk analyses to minimize adverse outcomes.
I prioritize risks based on probability of occurrence and possible impact to the company.
I conduct internal audit of risk assessments.
You prioritize the risks to determine the most pressing needs.
I prioritize risks to act on critical issues first.
I determine which are the serious threats.
I quantify current business practices to make better informed decisions.
You use Monte Carlo Risk Simulations and decision analytics to create the best possible strategic decisions.

Risk Awareness

You have the knowledge and skills to accurately identify risks in the workplace.
You are aware of the financial implications of certain risks.
You are aware of process safety management.
You are able to perceive the risks of different work tasks and activities.
You accurately perceive potential risks in the workplace.
You accurately perceive potential risks in the workplace and initiates preventative measures.
You understand the possible financial risks of different events.
You identify the most significant risks from business operations.
You understand that risk may represent a threat or an opportunity.
I understand how to meet regulatory compliance.

Determines the Consequences

You accurately determine appropriate risk levels (i.e., levels of acceptable risk).
I determine if the level of risk is tolerable.
I seek to capitalize on risks.
I recognize the potential financial impact of specific risks.
I determine the impact of specific risks on infrastructure.
I recognize the potential impact of systemic risks.
I determine the impact of specific risks on reputation.
I determine the potential outcome of adverse risk events.
I determine the impact of specific risks on finances.
You anticipate the consequences of different potential risk events.
You determine the impact of specific risks on marketplace.
I look for opportunities to turn a risk event into an advantage for the company.

Design Initiatives

You create a risk profile for projects and teams.
You create a risk management strategy for the department.
You develop policies for risk management.
You develop policies to address risk situations in the workplace.
You create a risk management strategy for the organization.
You align risk management activities with existing processes.
You design risk response activities that are proportionate to the level of risk.
I design risk management activities that support the success of the company.
I outline the risk management framework including responsibilities, description of the process, and guidance on evaluating risk criteria and appropriate risk responses.
I determine a proportional response in relation to the level of risk.
I establish the context for risk management activities.
I determine the proper tools to efficiently manage the risk.
I create dynamic and responsive enterprise risk management processes.

Manages Risk

You effectively manage risk for the department.
You seek to maintain the long-term viability of the Company through effective risk management.
You base decisions on patterns found in fluid/changing information.
I accept risks as needed.
I view risks as potential opportunities for profit.
You work effectively to transfer risk.
I work effectively to mitigate risks.
I work effectively to avoid risk.
I implement strategic risk management in an objective and tactical way.

Mitigates Risk

You use data from the purchasing department to anticipate possible supply chain risks.
You take steps to minimize the impact/damage of the risk events.
I implement strategies to mitigate risks.
You increase business resilience.
I minimizes operational setbacks and delays.
I take steps to reduce the occurrence of the risk events.
I use financial data to mitigate financial risks.
You know how to obtain desired results with minimal losses.
I take steps to contain the costs of responding to such events.
I minimize the increase in costs due to global events or supply chain issues.
I ensure all components of risk management are in place.

Controls Risk

You implement changes to reduce the chances of critical incidents in the future.
You develop appropriate strategies to minimize risks.
You are aware of appropriate actions to minimize risks.
You recognize that small changes may snowball into major events.
I adopt a risk-based approach to establishing systems of internal controls.
I seek to reduce uncertainty (risks) in the supply chain.
You determine the amount of deviation from the plan that will be tolerated.
I establish good controls over the process to better manage risks.
I ensure that any risky decisions taken are based on informed decision making.

Embraces Risk

You reward risky ideas that may yield significant benefits.
I turn risks into opportunities for advancement.
I seek to add value to the company by embracing risk.
You identify and mitigate risks while making informed, strategic decisions.
I add value to the organization through acceptance of certain risk.
You turn risks into opportunities.
I identify opportunities that may be created by taking specific risks.
I seek specific risks that will create opportunities to advance the department/company.
I take calculated risks by effectively recognizing and managing them.

Monitors Risk

You track and monitors incidents that may increase the risk of adverse consequences.
You track risks in a project.
I perform monthly risk management assessments.
You monitor the effectiveness of risk management strategies.
I conduct regular audits of the risk management framework.
I use actionable data and analytics to improve risk tolerance.
I monitor enterprise risk management activities for their impact and effectiveness on mitigating risks.
I monitor risk events and notify appropriate stakeholders.

Risk Response

You effectively respond to critical situations to reduce potential for losses.
You respond appropriately to unexplained or unanticipated events.
You are able to adapt quickly to changing situations.
You avoid maintaining the status quo (or standard operating procedures) when addressing new and influential situations.
You create contingency plans.
I create continuity plans.
I create a level of resilience in the organization.
You reduce risk to a manageable level.
I decide what actions will be taken.
I identify the controls needed.

Responsibilities

You seek to increase safety in the workplace.
You are concerned about process safety management.
I use risk data to generate insights and drive strategic decisions.
You integrate risk management processes, data, and analytics across the company.
I am responsible for regulatory, strategic, operational and project risk management.

Supports the Process

You improve process safety where possible.
You are committed to implementing rules and procedures to minimize risk.
You integrate risk management into strategic decision making.
I provide support to managers involved in the risk management process.
You work within constraints of the organization.
I ensure employees are aware of potential impacts by increasing risk visibility.

Risk Communication

You maintain open communication with other departments.
I promote risk management competence throughout the organization.
You present regular/monthly reports to the audit committee.
I establish roles, responsibilities, procedures.
You communicate the protocols.
I foster an awareness and a shared responsibility for managing risk at all levels of the Company.

Training

You attend risk management seminars and conferences.
You create informative guides regarding potential risks and risky behaviors.
You offer training to reduce safety incidents in the workplace.
You are knowledgeable of standard risk management principles.

Job Interview Questions

These questions will help you pinpoint candidates with strong risk management skills - individuals who can minimize exposure to risks and expedite recovery from critical incidents.

Evaluates Risk

How would you identify what actions the organization is willing to take?
How would you use risk management to ensure smooth operations?
Describe how you would use risk management to make better strategic decisions.
Risks have consequences and likelihoods of occurrence. How do you assess risks considering these factors?
Explain how you would use risk management to remain in compliance with regulations.
How do you use risk management to be more effective in identifying and implementing projects?
Can you give an example of how the risk management information is used?
Explain how you would evaluate the impact of certain events on the attainment of corporate objectives.
Explain how you would evaluate the probability of a risk event occurrence.
How would you set or determine the risk tolerance of the company?

Risk Analysis

How do you prioritize risks to act on critical issues first?
Describe how you would quantify current business practices to make better informed decisions?
How did you evaluate risks against acceptable risk levels?
Have you gathered information regarding potential risks?
How would you conduct an internal audit of risk assessments?
In your previous position, did you determine which were the serious threats?
Explain how you would prioritize the risks to determine the most pressing needs?
Do you perform regular risk analyses to minimize adverse outcomes?
Have you previously performed a risk analysis?
Do you prioritize risks based on probability of occurrence and possible impact to the company?
How do you use Monte Carlo Risk Simulations and decision analytics to create the best possible strategic decisions?

Risk Awareness

Explain how you would accurately perceive potential risks in the workplace and initiates preventative measures.
Can risks represent a threat or an opportunity? Explain.
Are you aware of the financial implications of certain risks?
Are you aware of process safety management?
Explain how you would work to meet regulatory compliance.
Do you have the knowledge and skills to accurately identify risks in the workplace? Explain.
How do you accurately perceive potential risks in the workplace?
In auditing the work of another department, describe how you perceive the risks of different work tasks and activities?
How would you identify the most significant risks from business operations?
Do you understand the possible financial risks of different risk events? Explain.

Determines the Consequences

Have you recognized the potential financial impact of specific risks?
How would you determine the impact of specific risks on reputation?
Have you looked for opportunities to turn a risk event into an advantage for the company? Explain.
Can you determine the impact of specific risks on infrastructure? Explain.
How would you accurately determine appropriate risk levels (i.e., levels of acceptable risk)?
Explain how you would determine if the level of risk is tolerable.
Can you determine the impact of specific risks on marketplace? Explain.
Have you recognized the potential impact of systemic risks? Explain.
How would you determine the potential outcome of adverse risk events?
How do you anticipate the consequences of different potential risk events?
How do you seek to capitalize on risks?
Give an example of how you would determine the impact of specific risks on finances?

Design Initiatives

How do you create a risk management strategy for the department?
How do you determines the proper tools to efficiently manage the risk?
How would you create a risk management strategy for the organization?
Describe how you would create a dynamic and responsive enterprise risk management processes.
Have you designed risk management activities that supported the success of the company? Explain.
How would you align risk management activities with existing processes?
Explain how you would create a risk profile for projects and teams.
Have you developed policies to address risk situations in the workplace?
Have you developed policies for risk management?
How would you determine a proportional response in relation to the level of risk?
Have you designed risk response activities that were proportionate to the level of risk? Explain.
How would you establish the context for risk management activities?

Manages Risk

How would you base decisions on patterns found in fluid/changing information?
How do you implement strategic risk management in an objective and tactical way?
How would you encourage employees to accept risks as needed?
Explain how risks could be viewed as potential opportunities for profit.
Did you ever effectively transfer risk? (Insurance, Outsourcing)
How do you effectively manage risk for the department?
Have you had a chance to effectively mitigate risks?
Have you worked effectively to avoid risk?
Explain how you would seek to maintain the long-term viability of the Company through effective risk management.

Mitigates Risk

Have you taken steps to reduce the occurrence of the risk events?
Do you use data from the purchasing department to anticipate possible supply chain risks?
How do you minimize the increase in costs due to global events or supply chain issues?
Explain how risk management increases business resilience.
How would you implement strategies to mitigate risks?
Do you take steps to minimize the impact/damage of the risk events?
How do you minimize operational setbacks and delays?
Have you used financial data to mitigate financial risks?
Do you know how to obtain desired results with minimal losses? Explain.
How do you take steps to contain the costs of responding to such events?
How do you ensure all components of risk management are in place?

Controls Risk

How would you develop appropriate strategies to minimize risks?
Explain how you would establish controls over the process to better manage risks.
How can you ensure that any risky decisions taken are based on informed decision making?
Have you sought to reduce uncertainty (risks) in the supply chain?
Are you aware of appropriate actions to minimize risks?
Explain how you would help subordinates to recognize that small changes may snowball into major events?
Can you determine the amount of deviation from the plan that will be tolerated?
How would you implement changes to reduce the chances of critical incidents in the future?
How would you adopts a risk-based approach to establishing systems of internal controls?

Embraces Risk

How would you reward risky ideas that might yield significant benefits?
How would you seek specific risks that will create opportunities to advance the department/company?
How do you add value to the organization through acceptance of certain risk?
How would you turn risks into opportunities?
Explain how you could seek to add value to the company by embracing risk.
Can you identify and mitigate risks while making informed, strategic decisions? Explain.
Do you take calculated risks by effectively recognizing and managing them?
Can you turns risks into opportunities for advancement?
How would you identify opportunities that may be created by taking specific risks?

Monitors Risk

Describe how you would use actionable data and analytics to improve risk tolerance?
How do you monitor the effectiveness of risk management strategies?
Do you monitor enterprise risk management activities for their impact and effectiveness on mitigating risks?
How do you monitor risk events and notify appropriate stakeholders?
Explain how you would track and monitor incidents that may increase the risk of adverse consequences.
Do you perform monthly risk management assessments?
Do you conduct regular audit of the risk management framework?
How would you track risks in a project?

Risk Response

How do you respond appropriately to unexplained or unanticipated events?
How would you identify the controls needed?
How would you create continuity plans?
Are you able to adapt quickly to changing situations?
How would you create contingency plans?
Can you create a level of resilience in the organization through risk management?
Explain how you would decide what actions will be taken.
How do you avoid maintaining the status quo (or standard operating procedures) when addressing new and influential situations?
How do you effectively respond to critical situations to reduce potential for losses?
How do you reduce risk to a more manageable level?

Responsibilities

Have you used risk data to generate insights and drive strategic decisions?
Are you concerned about process safety management?
Explain how you would integrate risk management processes, data, and analytics across the company.
How have you sought to increase safety in the workplace?
Were you responsible for regulatory, strategic, operational and project risk management in your former position?

Supports the Process

How do you provide support to managers involved in the risk management process?
Have you integrated risk management into strategic decision making?
Do you improve process safety where possible? Give examples.
Have you ever had to work within constraints of the organization to provide adequate risk management?
Are you committed to implementing rules and procedures to minimize risk? Give examples.
How can you ensure employees are aware of potential impacts by increasing risk visibility?

Risk Communication

Have you promoted risk management competence throughout the organization?
Have you presented regular/monthly reports to the audit committee?
How would you fosters an awareness and a shared responsibility for managing risk at all levels of the Company?
How do you establish roles, responsibilities, procedures in risk management?
How would you communicate the safety protocols?

Training

Did you create informative guides regarding potential risks and risky behaviors?
Are you knowledgeable of our standard risk management principles?
Have you attended risk management seminars and conferences?
Have you offered training to reduce safety incidents in the workplace?