- Problem solving
Risk management is a strategic business. At the higher levels, you may be designing risk management solutions and processes for an entire organisation. You’ll need to be both thorough and creative in your approach.
During the application process
If you’re given tasks or problems to solve at an interview, think carefully, take your time and be creative. If it helps, talk through your thought processes. You interviewer will want to know how you approach the problem.
- Analytical skills
The cornerstone of risk management is analysing risks, calculating their potential effects and balancing them against the company’s overall risk appetite.
During the application process
You may need to do online tests to demonstrate your analytical skills. Find sample tests online and in careers advice books to help you understand the types of question you might face. During any task, listen carefully to the questions and don’t be afraid to ask for clarification.
- Communication
Part of risk management is making sure everyone understands any significant risks and the company’s risk management strategy. This means communicating with all different audiences, from the board of directors to individual employees.
During the application process
Don’t rush your application questions. Make sure your answers are clear and well-structured. The same goes for your CV. Use the STAR method – Situation, Task, Activity, Result. In your interview, speak clearly and confidently and connect with your interviewer through open, relaxed body language and eye contact.
- Business understanding
To identify and estimate the risks to a company, you have to understand how the business works and all the different internal and external factors that can affect its performance.
During the application process
Do in-depth research into the company and its competitors, suppliers and customers. You also need to know the history of the industry, how it has changed and the challenges companies face.
- Negotiation and diplomacy
It’s never as simple as just creating a risk management policy. You have to negotiate with other departments to decide what’s possible, convince staff to be risk-aware, liaise with auditors and justify yourself to your bosses. Part of your job is to be convincing.
During the application process
Be polite and friendly to everyone you meet, including reception staff and assistants. Part of diplomacy is coming across as calm, trustworthy and cool in a crisis.
- Numeracy
Risk analysis involves a lot of numbers – costs, estimated risks, probabilities and so on – and while you don’t need to be a mathematician, you do need to be comfortable and confident with calculations.
During the application process
Don’t be afraid to use prosaic examples on your CV or at the interview. If you can explain your successful budgeting techniques, that’s a plus. If you’re faced with a numerical question, take a deep breath and think through how to approach it before you dive in.
- Working under pressure
Risks can change in an instant when something unexpected occurs and you need to be able to update your strategies and react at a moment’s notice. If things go wrong, your business continuity plans need to save the day.
During the application process
Obviously, stay as calm as you can and don’t get flustered by unexpected questions. You’re allowed to stop and think before you give your answer. Part of working well under pressure is knowing how to avoid extra pressure. If you get your application in well before the deadline, you’re demonstrating that you can keep your cool during a stressful application process and not let things spiral out of control.