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Questionnaire Items Measuring Risk Management

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.

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

• Uses risk management to be more effective in identifying and implementing projects.
• Evaluates the probability of a risk event occurrence.
• Evaluates risks in terms of their consequences and likelihood of occurrence.
• Uses risk management to ensure smooth operations.
• 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.
• Uses risk management to make better strategic decisions.
• Evaluates the impact of certain events on the attainment of corporate objectives.
• Determines the risk tolerance of the company.

Risk Analysis

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

Risk Awareness

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

Determines the Consequences

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

Design Initiatives

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

Manages Risk

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

Mitigates Risk

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

Controls Risk

• Implements changes to reduce the chances of critical incidents in the future.
• Aware of appropriate actions to minimize risks.
• Develops appropriate strategies to minimize risks.
• Recognizes that small changes may snowball into major events.
• Seeks to reduce uncertainty (risks) in the supply chain.
• Ensures that any risky decisions taken are based on informed decision making.
• 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.

Embraces Risk

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

Monitors Risk

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

Risk Response

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

Responsibilities

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

Supports the Process

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

Risk Communication

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

Training

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

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

• Our department effectively uses risk management information.
• My supervisor uses risk management to be more effective in identifying and implementing projects.
• 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.
• 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 remain in compliance with regulations.
• My supervisor uses risk management to make better strategic decisions.

Risk Analysis

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

Risk Awareness

• I am aware of the financial implications of certain risks.
• My manager understands the possible financial risks of different events.
• Senior Leaders understand that risk may represent a threat or an opportunity.
• My manager accurately perceives potential risks in the workplace.
• I can identify the most significant risks from business operations.
• I have the knowledge and skills to accurately identify risks in the workplace.
• My manager accurately perceives potential risks in the workplace and initiates preventative measures.
• 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.

Determines the Consequences

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

Design Initiatives

• 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 develops policies for risk management.
• The project leader creates a risk profile for projects and teams.
• Managers align risk management activities with existing processes.
• The Supervisor designs risk response activities that are proportionate to the level of risk.
• My manager develops policies to address risk situations in the workplace.
• My supervisor determines the proper tools to efficiently manage the risk.
• Senior leadership creates dynamic and responsive enterprise risk management processes.
• Our department designs risk management activities that support the success of the company.
• Supervisor are able to determine a proportional response in relation to the level of risk.
• Senior leadership creates a risk management strategy for the organization.

Manages Risk

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

Mitigates Risk

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

Controls Risk

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

Embraces Risk

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

Monitors Risk

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

Risk Response

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

Responsibilities

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

Supports the Process

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

Risk Communication

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

Training

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

Self-Assessment Items

Evaluates Risk

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

Risk Analysis

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

Risk Awareness

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

Determines the Consequences

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

Design Initiatives

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

Manages Risk

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

Mitigates Risk

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

Controls Risk

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

Embraces Risk

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

Monitors Risk

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

Risk Response

• You respond appropriately to unexplained or unanticipated events.
• You are able to adapt quickly to changing situations.
• You effectively respond to critical situations to reduce potential for losses.
• You avoid maintaining the status quo (or standard operating procedures) when addressing new and influential situations.
• I identify the controls needed.
• You create contingency 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 create continuity plans.

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 work within constraints of the organization.
• I ensure employees are aware of potential impacts by increasing risk visibility.
• You integrate risk management into strategic decision making.
• I provide support to managers involved in the risk management process.

Risk Communication

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

Training

• You are knowledgeable of standard risk management principles.
• 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.

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

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

Risk Analysis

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

Risk Awareness

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

Determines the Consequences

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

Design Initiatives

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

Manages Risk

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

Mitigates Risk

• Explain how risk management increases business resilience.
• 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?
• Have you used financial data to mitigate financial risks?
• Do you take steps to minimize the impact/damage of the risk events?
• How would you implement strategies to mitigate risks?
• Do you know how to obtain desired results with minimal losses? Explain.
• How do you minimize operational setbacks and delays?
• How do you ensure all components of risk management are in place?
• How do you take steps to contain the costs of responding to such events?

Controls Risk

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

Embraces Risk

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

Monitors Risk

• Describe how you would use actionable data and analytics to improve risk tolerance?
• How do you monitor risk events and notify appropriate stakeholders?
• Do you monitor enterprise risk management activities for their impact and effectiveness on mitigating risks?
• 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 do you monitor the effectiveness of risk management strategies?
• How would you track risks in a project?

Risk Response

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

Responsibilities

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

Supports the Process

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

Risk Communication

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

Training

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

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