Feb 2025

How to answer this Creative Thinking interview question about Digital Transformation for Senior-Level Internal Control Manager?

How do you align internal control policies with the digital transformation initiatives of a bank?

Internal Control Manager

Creative Thinking

Asked at

UOB (United Overseas Bank)

Difficulty :

Hard

A popular meme image featuring the Marvel character Thanos with the caption “A small price to pay for salvation,” commonly used to humorously express acceptance of a minor sacrifice for a greater benefit.

Explanation

This question assesses your ability to integrate internal controls with the technological advancements and digital initiatives of a bank. Recruiters are looking for candidates who can adapt controls to new technologies like AI, blockchain, and mobile banking while ensuring compliance and risk mitigation. A strong answer will balance innovation with control effectiveness and provide examples of successful alignment. Avoid neglecting the role of training or underestimating the risks of digital transformation.

Answer Example

To align internal control policies with digital transformation, I start by identifying risks associated with new technologies, such as data breaches or system failures. I then adapt control frameworks to incorporate these risks, leveraging tools like real-time monitoring systems to enhance oversight. For example, during a mobile banking app launch, I implemented multi-factor authentication and fraud detection algorithms, which reduced unauthorized access incidents by 30%. Regular updates to control policies and employee training ensure alignment with evolving digital initiatives and regulatory requirements.

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Feb 2025

How do you align internal control policies with the digital transformation initiatives of a bank?

Creative Thinking

Asked at

UOB (United Overseas Bank)

Difficulty :

Hard

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Explanation

Answer Example

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