How to answer this Technical interview question about Risk Management for Senior-Level Internal Control Manager?

How would you implement a risk assessment framework for internal controls in a regional APAC bank?

Internal Control Manager

Technical

Asked at

DBS Bank

Difficulty :

Hard

Explanation

This question evaluates your ability to design and implement a risk assessment framework tailored to the unique regulatory and operational landscape of an APAC bank. Recruiters are looking for an understanding of risk management principles, regulatory compliance, and the region's specific financial challenges. A strong answer will include a structured approach, such as identifying key risk areas, engaging stakeholders, and using appropriate risk assessment tools. Avoid vague or overly generic responses that fail to address regional considerations.

Answer Example

To implement a risk assessment framework, I would begin by identifying the bank's key operational risks, considering both regulatory requirements and market-specific factors in the APAC region. I would then use a combination of qualitative and quantitative tools, such as heat maps and risk matrices, to prioritize risks based on their likelihood and impact. For example, at a previous role, I implemented a framework that reduced operational risk incidents by 25% by focusing on high-risk areas like cross-border transactions and AML compliance. Regular reviews and collaboration with compliance teams ensure the framework remains effective as the regulatory and market landscape evolves.

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