How can you demonstrate your operational risk management skills in a job interview?

1. Discuss risk identification techniques and what strategies can be adopted to mitigate them. 2. Provide relevant examples of risk identification and highlight the impact of risk management efforts. 3. Discuss the framework and accountability measures. 4. Always keep communication open and adaptive. Be relevant and precise. 5. Demonstrate your commitment to continuous learning and adaptability.

You can demonstrate expertise through the course of ordinary discussion. Describe how you have created risk registers. Talk about how you coordinated stakeholders in risk prioritization activities. If you have done any of these things, you should be able to weave them into any conversation regarding solid project management principles.

It also helps to have some knowledge and understanding of the business you’re being interviewed for, its core business, brand and market so that you can demonstrate practical foresight of how you can practically implement your skills and knowledge to the benefit of the business.

Run through the Operational Risk Management Framework and lifecycle then showcase a good example or experience that is relevant to the business that you're applying.

To demonstrate operational risk management skills in a job interview: 1. Research the organization's industry and specific risks. 2. Highlight relevant experience with specific examples. 3. Discuss risk assessment methodologies and prioritization. 4. Showcase problem-solving skills through past successes. 5. Emphasize compliance with regulations and standards. 6. Demonstrate effective communication with stakeholders. 7. Quantify the results of risk management efforts where possible. 8. Highlight collaboration with cross-functional teams. 9. Emphasize adaptability and commitment to continuous learning. 10. Ask questions to show understanding of the organization's unique challenges.

Before your interview, ensure you grasp key ORM concepts, frameworks, and tools. Understand operational risk definitions, sources, standards like Basel II and III, ORM lifecycles, and techniques like risk identification and mitigation. Explain ORM's relation to credit, market, and strategic risk.

Develop threat scenarios and conduct risk simulations to prepare Risk team for various threat scenarios and enhance response capabilities.

Completely agree with the sentiment- but it also about look at the operating landscape, looking ‘left & right’ whilst keeping an eye on the horizon from both an op risk perspective but also regulatory as developments could add to reporting as an example. So partnerships between teams and colleagues is a critical element. When a risk team functions and delivers. the ‘business’ can often grow at pace with strong foundations- knowing objectives at its very core are delivered, safely.

Start with a clear understanding of risk concepts, regulatory frameworks, and industry standards. Highlight your ability to identify, assess, and prioritize risks by providing specific examples from your experience. Emphasize your proficiency in developing and implementing risk mitigation strategies. Showcase your communication skills by explaining complex risk concepts in a clear and concise manner. Demonstrate adaptability by discussing how you stay updated on industry trends and adjust strategies accordingly. Lastly, illustrate your collaborative nature by describing instances where you worked with cross-functional teams to address operational risks successfully.

While possessing knowledge of Operational Risk Management (ORM) techniques and processes is a solid foundation, true mastery goes beyond the theoretical. To impress interviewers, take that knowledge and weave it into relatable scenarios of the business you're being interviewed in.

Some other tips to demonstrate your experience are: 1. Share specific examples of past operational risk challenges and how you addressed them. 2. Discuss your role in designing risk frameworks, implementing control measures, and monitoring KRIs. 3. Highlight your ability to collaborate across teams, fostering a risk-aware culture. 4. Mention any relevant certifications or training in risk management. 5. Explain your approach to staying updated on industry best practices and emerging risks. 6. Show enthusiasm for continuous improvement and proactive risk mitigation.

The STAR method is tried and tested, but ensure that you talk in the first person whilst using it. Interviewers want to know specifically what you did, how you had an impact, so talk about I and not WE.

Structure as follows: Experience Overview: Briefly outline your ORM background, including industries and encountered risks. Concrete Examples: Share specific project instances illustrating your success in identifying, assessing, and mitigating operational risks. Risk Management Skills: Highlight your proficiency in risk identification, assessment, and measurement, showcasing both quantitative and qualitative approaches. Collaboration & Communication: Emphasize effective teamwork and communication as integral to your operational risk management strategy. Continuous Improvement: Showcase your commitment to ongoing improvement, citing instances of learning from experiences and using tools/technologies for risk management.

In showcasing your operational risk management experience, delve into specific instances where you played a pivotal role in identifying and mitigating risks. Share the challenges you faced, the strategies you employed, and the outcomes achieved. Whether it's implementing new processes, conducting risk assessments, or developing contingency plans, provide tangible examples that highlight your hands-on experience in navigating and managing operational risks effectively.

Experience is both individual and collective. On a personal level, it shapes our perceptions, beliefs, and responses to new situations. The sum of our experiences molds our character, informs our decisions, and even influences our emotional responses. It's through personal experience that we acquire skills, develop empathy, and build the nuanced, often unarticulated understanding of the social and physical environments we navigate. Collectively, experiences shared within communities, cultures, and societies contribute to a wider sense of identity, tradition, and social norms. These shared experiences create a fabric of collective memory and understanding that can bind people together.

Start with context, outlining the industry, company, and role. Detail how you identified operational risks, emphasizing the methods used, such as risk assessments or scenario analysis. Discuss your role in developing and implementing mitigation strategies, showcasing adaptability to changing circumstances. Highlight instances where you successfully managed or averted operational risks, quantifying impact when possible. Emphasize collaboration by narrating teamwork with different departments to address challenges. Conclude by linking these experiences to positive outcomes, showcasing your value in effectively navigating and mitigating operational risks for the organization.

Showcasing your operational risk management (ORM) skills through real-life examples is crucial. Utilising the STAR method (Situation, Task, Action, Result) can effectively structure your responses, highlighting achievements and challenges. For instance, detailing a situation where you identified operational risks, your assigned task, actions taken to assess and mitigate risks, and resultant outcomes or lessons learned can be compelling. Also, mentioning any ORM tools or software you've utilised or developed, like risk registers or dashboards, reinforces your expertise and practical application in ORM.

Para demonstrar suas habilidades em ORM, utilize o método STAR (Situação, Tarefa, Ação, Resultado) para estruturar suas respostas. Descreva uma situação onde identificou um risco operacional relevante, a tarefa que lhe foi designada ou que você assumiu, e as ações que tomou para avaliar e mitigar esse risco. Finalize com os resultados obtidos ou os aprendizados adquiridos. Além disso, destaque as ferramentas ou softwares ORM que você usou, como registros de risco, painéis, relatórios ou modelos que desenvolveu. Essa abordagem concreta e estruturada evidenciará sua competência e experiência prática em gerenciamento de risco operacional.

Share examples of how you identified potential operational risks and handled operational incidents or crises in the past. The steps you took to contain and mitigate the impact, as well as the lessons learned and improvements implemented afterward. This showcases your ability to not only identify risks but also respond effectively when they materialize. Explain how you collaborated with cross-functional teams to anticipate challenges and devise preemptive strategies. Quantify Impact: Cost Savings; Efficiency Gains; Prevention of Disruptions. Highlight industry-specific knowledge; Regulatory Compliance; Market Trends.

The suggested STAR method is good but NOT GREAT for ORM from my humble experiences. Other salient points to share include: a) Per WEF, Future of Jobs Report dated 2023, Analytical thinking skills - World No. 1 shortage skills as surveyed by global CEOs. This skills is critical for ORM. b) Ability to ask relevant questions before embarking ORM work is most critical. Questions on the data/information to ensure they are all verified and accurate before use for strategic decision making. c) Analytical thinking - thinking with questioning to find out the "bias" or "potential decision traps" are critical success factors of ORM.

Asking smart questions during the interview is a top-notch way to flaunt your ORM chops. It shows you're curious, engaged, and sharp about the gig and the company. You can grill them about their ORM game plan, like how they define operational risk, what methods they swear by, and how they tackle ORM challenges. Also, dig into the nitty-gritty of the role itself—what ORM tasks you'll tackle, what skills they value, and how they nurture ORM talent. It's all about showing you're clued in and ready to roll!

Ask personal questions to show interest in the individual and ask his/her perspective. Then you can follow up with your own thoughts based on research done into the company, industry etc. Be natural and do not read off a list of questions. Listen to the responses actively and allow the conversation to flow. You can also ask technical questions you would have that covered throughout the interview. This is more about showing your interpersonal skills, thought process and ability to connect at an individual level, which is critical to being a good risk manager.

Ask simple questions - what’s your biggest risk now. Again regulatory, and also development. Also interest in risk systems and approaches also suggest you want to know and understand their business Also come equipped with some insight they may not be cognisant of. Never fails to impress.

Inquire about the company's risk culture, understanding how they prioritize and address risks. Ask about past incidents and the lessons learned, showcasing your interest in continuous improvement. Seek information on the risk assessment and monitoring processes, demonstrating your familiarity with these key aspects. Inquire about the integration of technology in risk management, displaying your awareness of industry advancements. Discuss communication channels for risk-related issues, showcasing your emphasis on transparency. Tailor questions to the organization's specific context, illustrating your proactive and strategic approach to operational risk management.

Another relevant and revealing question is to ask "How satisfied are you with your current program?" This will give you insight into where the company feels they might be a bit weak, and where you can lean in to add the most value.

Some of my humble observations when I was hiring ORM professional include: a) Not well prepared by candidate. They never research the organisation's website on the latest happening, not versatile with latest regulator's ORM policy, Not sure what the job required. b) Almost 90% of candidates will tell me NO questions to ask - lack of a investigative mindset which is often helpful for ORM team members. c) Lack of in-depth knowledge on the latest ORM happenings, scandals, ORM techniques

Reflecting on my own past experiences in some 35-yr in GRC related work, there are few key points to benefit readers here: a) I would normally prepare at least 5 to 10 key questions but firstly researching on the organisation's background, BoDs, cEO and Divisional Directors, check on their X and Linkedin, check on public news about them, their core values, Vision and Mission, read their annual reports - Chairman's speech on vision and CEO's speech on their mission - any misalignment. b) Awareness question - start with "What", next "Why" and "How"? c) followed by 5 "Why". Asking relevant questions show the level of interest from OR Manager and their analytical thinking leading to alignment of OR Manager to the interviewers/employers.

Uma forma eficaz de demonstrar suas habilidades em ORM durante uma entrevista é fazendo perguntas pertinentes e estratégicas ao entrevistador. Isso não só mostra seu interesse e curiosidade pelo papel, mas também evidencia seu pensamento crítico em relação ao gerenciamento de risco operacional na organização. Você pode perguntar sobre a estratégia e governança de ORM, como a empresa define e categoriza o risco operacional, quais metodologias utilizam, e como mensuram e relatam esses riscos. Além disso, questionar sobre os desafios e oportunidades atuais que a empresa enfrenta no campo de ORM e sobre as tarefas específicas e competências esperadas para a função pode reforçar sua preparação e alinhamento com a posição desejada.

Fazer perguntas perspicazes e relevantes durante uma entrevista é uma excelente forma de demonstrar suas habilidades em Gestão de Riscos Operacionais (ORM). Isso não só evidencia seu interesse e curiosidade pelo papel, mas também seu pensamento crítico sobre a função e a organização. Pergunte sobre a estratégia de ORM da empresa, como eles definem e categorizam riscos operacionais, as estruturas e metodologias que utilizam, e como medem e relatam esses riscos. Questione sobre os desafios e oportunidades em ORM e sobre as responsabilidades específicas da posição, como os projetos nos quais você estará envolvido e as competências que a empresa valoriza.

Always emphasise your strengths and demonstrate with practical examples how these are needed for the organisation and how they add value. That way you are also showing how you've researched the company and are aware of what they need.

Obvious but you don’t always hear it, keep the example relevant to their business. It enables the interviewer to relate your example and help probe further into a great example ! Also the examples should be deep enable the above points to happen. Qualifications should be stated on your CV so I wouldn’t provide too much about them, unless a competency based question arises.

Highlight analytical abilities by discussing your approach to risk identification and assessment. Showcase problem-solving skills through examples of successfully implementing mitigation strategies. Emphasize adaptability by narrating experiences of adjusting risk management tactics to evolving situations. Demonstrate strong communication by explaining complex risk concepts clearly. Illustrate collaboration skills through teamwork with diverse departments in addressing operational risks. Display strategic thinking by linking past experiences to positive outcomes and long-term risk resilience.

Alright, when you're pitching yourself as an ORM pro, make sure you really sell what makes you stand out. Talk about your philosophy and how it meshes with the company's vibe. Show off your skills - you know, being analytical, a solid communicator, quick on your feet when problem-solving, and good at making decisions. Don't forget teamwork and leadership - those are big ones. Throw in some stories about how you've put these skills to work in different situations. Oh, and if you've got any certifications or memberships in ORM groups like PRMIA or GARP, definitely mention those too. They add some extra oomph to your pitch.

Some of the key strengths critical for ORM include: a) able to articulate very technical or complex concepts into simple language for front office colleagues. b) Show calm and patient when face with serious problems or mini-disaster - by starting with questions and not self-defending themselves or try to blame others or avoid the problems behaviour. c) Able to balance both technical and non-technical skills well especially conflict management and problem-solving skills, good communication skills being some of them.

Demonstrate your analytical prowess by discussing how you methodically assess potential risks, utilizing both quantitative and qualitative approaches. Emphasize your collaborative skills by recounting instances where you worked seamlessly with diverse teams to implement risk mitigation measures. Showcase your ability to communicate complex risk information in a way that is easily understandable, underlining your role not just as a risk manager but as a facilitator for informed decision-making within the organization.

Most OR Managers are very capable of showcase their strengths in ORM which is great. But there are indeed pitfalls to avert and here are some reflections to benefit others: a) Lack of specific examples - sometimes the OR Manager was too fast to answer and forget to clarify some key points prior answering, hence too generalistic in reply. b) Overemphasising technical skills - OR Manager focused too much on the technical skills especially use of AI etc to quantify and forgot that the soft skills are equally critical. How did you ask the right questions that the front office people will tell you the necessary details to amend the OR controls? c) Failure to align with the job descriptions or the OR related skills that interviewers are seeking.

Para destacar seus pontos fortes e sua proposta de valor como profissional de ORM, é essencial que você saiba articular claramente sua filosofia, abordagem e estilo de gerenciamento de risco operacional, alinhando-os com a visão e os valores da organização. Enfatize suas competências, como habilidades analíticas, comunicação eficaz, resolução de problemas, tomada de decisão, trabalho em equipe, liderança e inovação. Utilize exemplos concretos para demonstrar como essas habilidades contribuíram para gerar resultados significativos em diferentes contextos. Além disso, mencionar certificações e qualificações relevantes, como PRMIA, GARP ou IRM, pode reforçar ainda mais sua credibilidade e compromisso com a excelência em ORM.

Concordo com a importância de enfatizar os pontos fortes e a proposta de valor única como profissional de Gestão de Riscos Operacionais (ORM). Articular claramente sua filosofia e abordagem de ORM, alinhando-as com a visão e os valores da organização, é crucial para destacar sua adequação ao papel. Ressaltar competências-chave, como habilidades analíticas, comunicação, resolução de problemas, e liderança, é essencial. Exemplos práticos que demonstram como essas habilidades geraram resultados concretos em diferentes contextos fortalecem ainda mais essa abordagem. Além disso, mencionar certificações e qualificações relevantes pode reforçar sua credibilidade e comprometimento na área de ORM.

Consider showcasing your continuous learning mindset, expressing how you stay updated on industry trends and emerging risks. Highlight your ability to balance quantitative data with qualitative insights, demonstrating a holistic approach. Discuss any certifications or training related to operational risk management to reinforce your expertise. Share instances where you've effectively managed stakeholder relationships, underlining the importance of collaboration. Additionally, emphasize your ethical awareness and adherence to regulatory requirements in operational risk management. Be prepared to discuss challenges faced and how you've learned from setbacks, showcasing resilience.

👉 To effectively showcase your ORM skills, focus on conveying your ability to: 🔹1. Describe your experience in systematically identifying potential operational risks, such as fraud, data breaches, or system failures. Explain how you assess the likelihood and impact of these risks. 🔹2. Share examples of how you have developed and implemented effective risk mitigation strategies to reduce the likelihood or impact of identified risks. 🔹3. Demonstrate your ability to monitor and evaluate the effectiveness of ORM programs, identifying areas for improvement and making necessary adjustments. 🔹4. Articulate your proficiency in communicating operational risks to senior management, stakeholders, and regulators.

Important to also customise your communication style, frequency, and content based on the stakeholders' preferences and importance. For instance, senior executives may require formal and concise updates (in no more than 1 page !) whilst project managers might prefer detailed information. This includes thinking about how you communicate this information. So please choose communication platforms that best suit each stakeholder group, such as emails, meetings, or online platforms, ensuring clarity and relevance.

Provide Examples: Share specific instances where you identified, assessed, and mitigated operational risks in previous roles. Discuss Methodologies: Explain the risk management frameworks and tools you use (e.g., risk assessments, control measures). Showcase Problem-Solving: Describe how you resolved operational issues and the impact on the organization. Highlight Communication: Illustrate how you effectively communicated risks and strategies to stakeholders. Quantify Results: Provide metrics or outcomes that show the effectiveness of your risk management efforts.

Neste espaço, gostaria de compartilhar uma experiência que exemplifica meu comprometimento com a inovação e a melhoria contínua. Em um projeto anterior, identifiquei uma ineficiência em um processo de gestão de riscos que estava causando atrasos na entrega de relatórios críticos. Após analisar o problema, propus e implementei uma solução baseada em automação, que não só reduziu o tempo de execução, mas também melhorou a precisão dos dados. Essa experiência me ensinou o valor de ser proativo e buscar sempre novas formas de agregar valor, além de reforçar a importância da adaptação às necessidades específicas de cada organização.

Highlight your adaptability and commitment to staying abreast of industry trends and emerging risks. Discuss instances where your proactive approach helped the organization stay ahead of potential challenges. Additionally, showcase your problem-solving acumen by narrating a scenario where you encountered and successfully addressed an unexpected operational risk, demonstrating resilience and agility in managing unforeseen circumstances. This not only underscores your expertise but also your ability to contribute to a proactive and forward-thinking risk management approach.

Demonstrate that you are aware of current trends and best practices in operational risk management. This can be achieved by referencing recent publications, industry reports, or relevant certifications. Operational risks are dynamic, so emphasize your ability to adapt to changing circumstances. Share examples of how you've adjusted strategies in response to evolving risks. Show that you are committed to ongoing learning in the field of operational risk management. Mention any relevant courses, workshops, or certifications you have undertaken or plan to pursue.

Voce pode se destacar mostrando conhecimento tecnico, discutindo metodologias, mas principalmente relembre situações em que você gerenciou riscos operacionais, as ações que tomou e os resultados alcançados.

Regulatory requirements significantly influence Operational Risk Management practices in many ways such as various regulations that mandate specific ORM practices. This includes implementing robust risk management frameworks, conducting regular risk assessments. Regulations often require organizations to have formal incident management processes in place. After an incident has occurred, the event itself needs to be escalated and reported to the incident management team as well as the relevant risk and risk management committees. This will lead to a full analysis of the incident after it has been resolved. The firm needs to review procedures and controls following an event in order to ensure that future recurrences are prevented.