1. Walk me through how you would assess the risk profile of a new client entering a highly regulated industry. What framework would you use, and how would you prioritize the key risks?
2. A banking client is concerned that their current risk reporting is too backward-looking. How would you redesign their reporting framework to include forward-looking risk indicators?
3. Describe a time you worked with ambiguous or incomplete data. How did you move the project forward while managing expectations with stakeholders?
4. How would you evaluate the effectiveness of a client’s internal controls environment? What would you look for during walkthroughs or testing?
5. If a client strongly disagrees with your risk assessment or recommendations, how would you manage the discussion while maintaining the relationship?
6. Explain how regulatory expectations (e.g., OSFI, IFRS 9, Basel concepts, SOX if applicable) influence a financial institution’s risk management practices. Give a practical example.
7. Imagine you are assessing model risk for a bank. What elements of the model lifecycle would you review to ensure appropriate governance and validation?
8. Consulting projects are often fast-paced with shifting priorities. Tell me about a time you balanced multiple deadlines while ensuring quality delivery — what structure did you use?