Hello there, my name is Richard McMunn from the interview training company, PassMyInterview.com.
And in this tutorial, I'm am going to teach you how to pass a Risk Analyst interview.
So, if you have a Risk Analyst interview coming up for any organization whatsoever, make sure
you stay tuned, watch this presentation fully from start to finish, because I will help
you to pass your interview! And you achieve that goal, this is what I'm going to cover.
I got to give you a list of Risk Analyst interview questions that I strongly recommend you prepare
for. I will give you example answers to those Risk Analyst interview questions to help you
succeed. I will also give you some really important tips on how to be the standout candidate
during your Risk Analyst interview. And finally, I will tell you about further resources you
can get access to, including these slides to help you be successful at your interview.
There's four reasons why you should stay tuned. Now, just very quickly, before I start the
presentation, a very warm welcome to my Risk Analyst interview training tutorial. My name
is Richard McMunn. That is me there in the center of the screen. I have been helping
people for over 20 years now to pass their interviews. And I always do that by giving
you TOP SCORING ANSWERS you can't find anywhere else! On that basis, please make sure you
SUBSCRIBE to this channel, so you don't miss out on any of the weekly training videos I
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Please also make sure you HIT THE LIKE BUTTON. If I see you liking the video that tells me
you enjoy the content and I will therefore create more for you. Thank you very much.
Let's get into the training! The first interview question that I would like you to prepare
for is: Introduce yourself and tell me why you are suited to the role of a Risk Analyst?
Now, don't make the mistake of giving a short answer to this first interview question. Make
sure you talk about the skills, the qualities and the experience you have that will enable
you to add value to their organization. In this role, it is important that you focus
throughout your interview on how you're going to ADD VALUE to their organization. Here is
a great sample answer to help you. “All my training and professional development has
been geared towards becoming a competent Risk Analyst. I am a determined, resilient and
analytical person who understands the work I carry out can have a significant impact
on the success of my team and the organization I am working for. I possess strong numeracy
and strategic-thinking skills; I am a solid researcher and somebody who will plan and
organize their work meticulously, and I am a strong communicator, both verbally and in
writing. I am suited to the role of a Risk Analyst because the natural skills and qualities
I possess, and the extensive experience I have gained in a wide variety of different
situations, make me a strong candidate for this position. I feel confident that, if you
decide to hire me within this Risk Analyst role you will quickly see positive results
from my work, and I assure you I will always add value to the organization through strong
and consistent analytical work and processes.” That is a very strong answer to that first
interview question: Introduce yourself and tell me why you are suited to the role of
a Risk Analyst? Now, you can either pause the video if you want to and take a note of
the questions and the answers as I progress, or if you want to wait, I will tell you where
you can download my full set of Risk Analyst interview questions and top scoring answers,
including the ones we are working through today! The next question. What are the most
important skills needed to become a Risk Analyst and why? Now, there are two parts to this
interview question. You need to show your understanding of the Risk Analyst role and
why each skill is important. So again, here is a strong answer to assist you. “There
are 7 very important skills and qualities needed in Risk Analysis in order to be effective.
You must possess STRONG ANALYTICAL AND PATIENCE SKILLS. These are needed because in order
to think strategically, and meet the objectives of your employer, you must dive deep and take
the time to look at trends and data over a prolonged period. You need to be an exceptional
PLANNER AND ORGANIZER. These skills are imperative because if you fail to plan and stay on top
of your work, you will fall behind, you will make mistakes and you will provide incorrect
reports and assessments of risk, which is unacceptable. You need to be a good PROBLEM-SOLVER.
This can only be achieved by remaining calm, taking a holistic approach to problems and
always remembering the importance of thinking strategically. Other skills and qualities
include being able to INTERPRET DATA AND INFORMATION and then presenting it in an EASY TO UNDERSTAND
MANNER to team members and senior managers or directors. Risk Analysts must communicate
clearly, concisely and effectively which will in turn enable the organization to make effective
decisions. Finally, you must be a STRONG TEAMWORKER and be FINANCIALLY AND COMMERCIALLY AWARE.”
What I particularly like about that response, is you are focusing on a set number of skills
and qualities needed to be an effective Risk Analyst. And in this case, there are seven
to include in your answer. That shows that you are highly knowledgeable about the skills
and qualities needed within your work and you are also showing the you need, which is
very important, to be financially and commercially aware. Now, don't go anywhere because I still
have many more questions to work through with you and answers. But when you're ready, if
you want to CLICK THAT LINK in the top right-hand corner of the video, you can go through to
my website, PassMyInterview.com and download my full set of 21 Risk Analyst interview questions
and brilliant answers, including the ones we are working through together today. Now,
the next question I want to cover is guaranteed to come up during your interview, and that
is, why do you want to work for our company as a Risk Analyst? This interview question,
as I say, is going to come up and it is designed to assess whether you have carried out any
research into their organization, and also your motivations for working within their
team. Here is another great answer for you: Why do you want to work for us? Or sometimes
it's posed as: Why do you want to work for our company as a Risk Analyst? “I have chosen
your company because, as I see it, you have a long history of setting high standards and
for achieving sustainable significant results. There are many companies to choose from within
Risk Analysis, but I only want to work somewhere where I will be supported in my role, where
I will be constantly pushed and challenged, and where I will be able to grow and develop
professionally. After researching your organization extensively in the build-up to this interview
today, I feel this is somewhere I will be able to stay working for a long period of
time whilst working alongside a dedicated team of people who are all pushing in the
same direction.” I like that answer because you are not just giving one reason why you
want to work for their company, but it shows that you have researched them, they set high
standards and you are also mentioning there, which I think is really important, you intend
to stay there for a prolonged period of time. Nobody wants to hire a Risk Analyst who's
just going to go within a few months. The next question. Describe a situation when you
have to change an existing process? This is a tough question! It is commonly referred
to as a behavioral interview question. So, being adaptable to change and embracing it
positively are important aspects of being a Risk Analyst. This is a common behavioral
interview question, and it is important you give the hiring manager a SPECIFIC SITUATION
you have previously been in. Here's my example answer to assist you… Describe a situation
when you had to change an existing process? “In a previous Risk Analysis role, we had
been working to a set of processes and procedures for a long period of time. Everyone within
the organization was used to the processes, they were effective and were comfortable with
them. However, a new senior manager joined the team and she decided to shake things up,
which I felt was a good thing. Complacency is not a particularly good thing in any organization,
and you need to change to maintain your market position. Initially, the changes were not
particularly well received by most of the team. I decided to get involved with the implementation
of the change and I helped write some of the new policies. During this time, I took the
opportunity to explain to other people within my team how the changes could bring about
improved results if we embraced them positively. After a while, everyone within the team started
to see the value of the change and it wasn’t long before positive financial results were
brought about by the new procedures and working practices.” That type of answer shows that
you want to get involved in change, but you realize the importance of it, and you have
taken positive action to encourage other people to see the benefits of the change. And then
there is a result at the end, which is positive. The next question: What is Value at Risk and
how would you calculate it? So, this technical risk analysis interview question assesses
your ability to assess risk within an organization, a financial position or perhaps a portfolio.
Here's my suggested answer to help you. What is a Value at Risk and how would you calculate
it? “Value at Risk (VaR) essentially quantifies the level of financial risk within either
an organization, an investment portfolio or a position. There are three different methods
for measuring VaR. The first method is to assess historical data and information. This
is a particularly trustworthy method to use providing there is sufficient historical data
to utilize. Another method is the Monte Carlo simulation. This approach calculates different
probable results by inputting random values each time to give you a set of results you
can then assess from a risk perspective. Finally, there is the Parametric assessment or variance-covariance
method. This technique is commonly used to assess risk within a portfolio of assets.
This method can be used to calculate the maximum loss within certain parameters. In my experience,
I would be more likely to choose Historical Data first, followed by the Mote Carlo simulation
and finally, the Parametric assessment.” There’s five interview questions and answers
there to help you. If you would like more, please CLICK THAT LINK now in the top right-hand
corner of the video. Go through to my website, PassMyInterview.com and have a look at my
21 Risk Analyst interview questions and brilliant answers. You can DOWNLOAD all of the questions
and answers, including the five that we've worked through together today. There's also
some really IMPORTANT TIPS on that page to help you prepare for and pass your interview.
Thank you for watching. Don't forget. SUBSCRIBE. Connect with me on LinkedIn.com and please
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then I will create more for you. Thank you very much indeed. Have a brilliant day and
I wish you all the best for passing your risk analysis to interview. Thank you very much!