How to answer this Technical interview question about Cybersecurity Risk for Senior-Level Risk Manager?

How would you assess and manage cyber risks for a financial institution?

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Risk Manager

Technical

Asked at

DBS Bank

Difficulty :

Hard

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Explanation

This question evaluates your ability to handle cybersecurity risks, a critical aspect for financial institutions. Recruiters assess your understanding of cyber threats, technical expertise, and ability to implement safeguards. Common pitfalls include failing to consider both technical and organizational aspects of cybersecurity. A strong answer demonstrates a structured approach, including risk identification, mitigation strategies, and response planning. Preparation involves studying cybersecurity risk management frameworks and industry best practices.

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Answer Example

I would start by conducting a cybersecurity risk assessment to identify vulnerabilities in systems and processes. Next, I would implement safeguards such as encryption, firewalls, and employee training programs. Additionally, I’d establish an incident response plan to minimize potential damage. For example, I reduced cyber risks for a financial institution by identifying phishing vulnerabilities through simulated attacks and implementing a training program that improved employee awareness by 40%.

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