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Feb 2025

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

How do you assess and mitigate risks associated with a new contract?

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Contract Manager

Technical

Asked at

KPMG

Difficulty :

Hard

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Explanation

This question evaluates your ability to identify and mitigate risks before a contract is signed. Recruiters are looking for candidates who can conduct thorough risk assessments, collaborate with legal teams, and implement risk mitigation strategies. A strong answer will include specific methods and examples. Avoid failing to address the importance of reviewing clauses and contingencies.

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Answer Example

I assess risks by conducting a detailed review of contract clauses, such as indemnification and termination terms, and collaborating with legal and compliance teams. For instance, I identified a liability gap in a vendor contract and added a mutual indemnification clause to mitigate financial risks. I also developed a risk register to monitor and address potential issues throughout the contract lifecycle, ensuring proactive risk management.

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