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Ethics and Integrity interview question about Regulatory Compliance for Mid-Level Risk Manager

What steps would you take to ensure compliance with risk management regulations in a multinational organization?

Risk Manager

Ethics and Integrity

Asked at

Standard Chartered

Difficulty :

Medium

Explanation

This question evaluates your ability to align risk management practices with global regulatory requirements. Recruiters assess your understanding of compliance frameworks, attention to detail, and ability to navigate complex regulatory environments. Common pitfalls include ignoring country-specific regulations or not addressing how you would monitor compliance. A strong answer includes clear steps for ensuring compliance and maintaining oversight. Preparation involves studying global risk management standards and regulatory frameworks.

Answer Example

I would start by conducting a compliance gap analysis to identify discrepancies between current practices and regulatory standards. Next, I would establish a monitoring system to ensure ongoing compliance, including regular audits and employee training. For example, I ensured compliance for a multinational bank by aligning risk management policies with Basel III requirements and implementing quarterly audits, reducing regulatory violations by 15%.

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