How do you answer interview question about risk?

How do you answer interview question about risk?

To answer this interview question, take the following steps:

1. Consider the company. Before preparing your response to what your biggest risk is, research the company and its values.
2. Select an example.
3. Mention the risk involved.
4. Explain your thought process.
5. Share the results that occurred.

What questions should you ask about risk management?

10 Questions for Management and Boards

• What are the company’s top risks, how severe is their impact and how likely are they to occur?
• How often does the company refresh its assessment of the top risks?
• Who owns the top risks and is accountable for results, and to whom do they report?

How do you manage risk?

Develop a plan to treat risks, so you can:

1. identify each risk type and the level of risk to your business.
2. suggest strategies to treat each risk.
3. create timeframes for each strategy.
4. decide who’s responsible for specific parts of the plan.
5. work out resources required such as money, staff and external help.

Are you a risk taker best answer?

Short Answers “I’m reliable and believe in stability and guarantees. My work will be based on facts without assumptions or guesses, so I tend to stay away from risks.” “I think it’s important to take some risks. I keep the options open and if the reward justifies the risks, I would definitely try.

What are the 5 questions in assessing risk factors?

What are the five steps to risk assessment?

• Step 1: Identify hazards, i.e. anything that may cause harm.
• Step 2: Decide who may be harmed, and how.
• Step 3: Assess the risks and take action.
• Step 4: Make a record of the findings.
• Step 5: Review the risk assessment.

What is risk and examples?

A risk is the chance, high or low, that any hazard will actually cause somebody harm. For example, working alone away from your office can be a hazard. The risk of personal danger may be high. Electric cabling is a hazard. If it has snagged on a sharp object, the exposed wiring places it in a ‘high-risk’ category.

What are some examples of risk taking?

Examples of Risk-Taking Behavior

• Criminal activity such as stealing, vandalism, or trespassing.
• Driving under the influence of drugs or alcohol.
• Engaging in dangerous driving, such as street racing or texting while driving.
• Engaging in extreme sports that have a high risk of injury or death.
• Fighting.