Fintech Security Analyst Mock Interview
Master 25 Fintech Security Analyst interview questions covering threat detection, compliance frameworks, and payment security.
Question 4 of 25
How do you define residual risk?
How to Answer
Example Answer
Community Answers
The fact of the matter is that risk can never be entirely eliminated as long as the physical medium housing the data, network, and/or the devices still exist. Talk to the interviewer about the definition of residual risk and how you determine how much residual risk is acceptable.
"So after you mitigate an inherent risk, like putting a firewall in place to protect a network, there's always some remaining risk that hackers might still be able to access the network. This is considered residual risk. Unless you're physically destroying the network, there's always going to be some level of residual risk left after you mitigate the inherent risk. As a fintech security analyst, I always consider what level of residual risk I'm willing to accept. Personally, I calculate residual risk by multiplying likelihood by severity. If it's highly likely that harm will occur and that it will be severe, then I consider the residual risk to be too high. But if the residual risk is low because it's unlikely anyone will be harmed and that it would be a slight harm, then I tend to view this as an acceptable amount of residual risk. When I consider and compare varying options given the resources available to me, I generally choose the one with the lower amount of residual risk."
Interview Coach
Jaymie
A real coach, not AI. I read every answer myself and write back with personalized feedback.
Typically responds within 24 hours.
0 - Character Count
Unlock All 25 Fintech Security Analyst Questions
Unlock responses addressing regulatory compliance, encryption protocols, and incident response scenarios.
Get StartedJump to Question