ICICI Prudential Mutual Fund Internal Control Manager Interview Questions and Answers

The concept of risk refers to the potential for loss or harm that may arise from uncertain events or circumstances.

• Risk is inherent in all aspects of life and business.

• It involves the identification, assessment, and management of potential risks.

• Risk can be categorized as strategic, operational, financial, or compliance-related.

• Effective risk management involves implementing controls and mitigation strategies.

• Examples ...read more

The reason for change is to improve efficiency and effectiveness of internal controls.

• To address identified weaknesses or gaps in the current internal control system

• To comply with new regulations or industry standards

• To adapt to changes in the organization's structure or operations

• To enhance the accuracy and reliability of financial reporting

• To prevent fraud or mitigate risks

• To streamline processes and reduce costs

• To r...read more

Operational risk is assessed by identifying potential risks, evaluating their impact, and implementing controls to mitigate them.

• Operational risk refers to the risk of loss resulting from inadequate or failed internal processes, people, and systems.

• It involves identifying potential risks that could impact the organization's operations and objectives.

• Evaluating the impact of these risks helps prioritize them based on th...read more

I want to join ICICI because of its strong reputation, career growth opportunities, and commitment to excellence.

• ICICI has a strong reputation in the banking industry, known for its financial stability and customer-centric approach.

• I am impressed by ICICI's commitment to excellence and its focus on delivering high-quality services to its customers.

• ICICI offers great career growth opportunities, allowing me to enhance m...read more