Assistant Risk Manager Interview Questions and Answers

I have worked with various audit frameworks and standards such as ISO 31000, COSO, and NIST.

• ISO 31000 - international standard for risk management

• COSO - framework for internal control

• NIST - cybersecurity framework

• Familiar with auditing principles and practices

• Experience in conducting risk assessments and audits

Yes, I have experience in audit, reporting and documentation.

• I have conducted internal audits to ensure compliance with company policies and procedures.

• I have prepared reports on audit findings and presented them to management.

• I have maintained accurate documentation of audit results and corrective actions taken.

• For example, in my previous role as a Risk Analyst, I conducted audits of vendor contracts and prepared reports on areas of potential risk.

• I also maintained documenta...read more

Monetary expectations refer to the amount of money an individual expects to earn or receive in a particular role or position.

• Monetary expectations are often discussed during job interviews to ensure that both the employer and employee are on the same page regarding salary and benefits.

• Factors that may influence monetary expectations include education, experience, industry standards, and cost of living.

• For an Assistant Risk Manager position, monetary expectations may vary depe...read more

Risk management process involves identifying, assessing, prioritizing, and mitigating risks to minimize their impact on an organization.

• Identify potential risks

• Assess the likelihood and impact of each risk

• Prioritize risks based on their level of severity

• Develop and implement strategies to mitigate or manage risks

• Monitor and review the effectiveness of risk management strategies

• Continuously improve the risk management process

• Example: A company identifies the risk of a cyber at...read more

SQC stands for Statistical Quality Control. International standards are guidelines set by international organizations to ensure quality and safety.

• SQC is a set of statistical methods used to monitor and control quality in a production process.

• International standards are developed by organizations such as ISO and IEC to ensure products and services meet certain quality and safety requirements.

• Examples of international standards include ISO 9001 for quality management and ISO 1...read more

Scam 1992 is a web series based on the true story of Harshad Mehta, a stockbroker who was involved in the 1992 Indian securities scam.

• Scam 1992 is a 10-episode web series released in 2020 on SonyLIV.

• It is based on the book 'The Scam: Who Won, Who Lost, Who Got Away' by Sucheta Dalal and Debashish Basu.

• The series portrays the rise and fall of Harshad Mehta, a stockbroker who used loopholes in the banking system to manipulate the stock market.

• It stars Pratik Gandhi in the lead ...read more

Substantive procedures are audit procedures designed to obtain evidence to detect material misstatements in financial statements.

• Substantive procedures are performed to obtain direct evidence about the completeness, accuracy, and validity of the data produced by the client's accounting system.

• These procedures are used to test account balances, transactions, and disclosures.

• Examples of substantive procedures include analytical procedures, tests of details of transactions, and ...read more