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Standard Bank Mock Interview

Question 32 of 34 for our Standard Bank Mock Interview

Standard Bank was written by and updated on March 7th, 2022. Learn more here.

Question 32 of 34

At Standard Bank we expect our team members to have a basic understanding of foundational risk management principles. How have you performed risk mitigation and risk avoidance in your previous roles?

How to Answer

The financial field is often posed with significant risks, and financial professionals must always factor potential risks into the equation of any project they work on. To get a better idea of how you will do this if hired at Standard Bank, your interviewer gives you a chance to talk about your knowledge of risk and how you have worked with risk mitigation and avoidance in your previous positions. If new to the financial services field, it is important to show that you know that common risks can be systematic, operational, legal, and credit-related.

Written by Rachel Hills on March 7th, 2022

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Advice and Examples: At Standard Bank we expect our team members to have a basic understanding of foundational risk management principles. How have you performed risk mitigation and risk avoidance in your previous roles? For a Standard Bank Interview Question.

  • 32.

    At Standard Bank we expect our team members to have a basic understanding of foundational risk management principles. How have you performed risk mitigation and risk avoidance in your previous roles?

      How to Answer

      The financial field is often posed with significant risks, and financial professionals must always factor potential risks into the equation of any project they work on. To get a better idea of how you will do this if hired at Standard Bank, your interviewer gives you a chance to talk about your knowledge of risk and how you have worked with risk mitigation and avoidance in your previous positions. If new to the financial services field, it is important to show that you know that common risks can be systematic, operational, legal, and credit-related.

      Written by Rachel Hills on March 7th, 2022

      1st Answer Example

      "As you can see from my resume, my experiences come from the software and manufacturing industries where common risks were associated with systematic and operational faults. Similar to the finance industry, I also have experience in helping mitigate legal risk. In my current role, I mitigate legal risk by working with a team of legal experts to understand the laws and then develop a series of what-if questions to propose potential scenarios. Based on the what-if scenarios, we can implement specific requirements into the project to help minimize potential risk."

      Written by Rachel Hills on March 7th, 2022

      2nd Answer Example

      "From an early point in my career as an analyst, I learned that a solid analysis process is a key to reducing any risk in a project. Two areas that apply the most are scope creep and impact analysis. To reduce scope creep and avoid any risks associated with it, I ensure that all stakeholders understand the scope of the project from the start and that I check in to validate the requirements as frequently as I can."

      Written by Rachel Hills on March 7th, 2022