Attracting top Risk Management candidates with growth potential

At a startup, each new day brings a completely different set of challenges. The ideal candidate for a startup role is someone with a lot of grit, that can easily pivot to meet those new challenges, and views them as opportunities to grow. Candidates who refuse to look at new and innovative ways to assess risk won’t flourish in a startup environment. Fintech businesses should look for a growth mindset as they build up their talent pool for a Risk Management role. During the interview process, ask the following questions to identify the candidates that will grow with your business and proactively seek areas for improvement.

1. What changes did you make to already existing processes in your last role to help protect the business’ financial position?

If you approach a problem the same way every time you’ll always get the same results. Hire a Risk Manager who can share examples of ways in which they’ve taken a unique approach to mitigating common risks in their previous roles. Did this candidate jump into the role with many automated processes already in place, or did they come in and invent even more efficient processes that helped their teams focus on overall strategy?

2. How do you stay on top of the latest trends and developments in risk?

A candidate who is hungry for knowledge and constantly digesting new information (Deloitte, Gartner, Risk Management) is someone who cares about their professional development. A strong Risk candidate will actively seek opportunities to learn from the mistakes of others and read about new technologies that could help automate the more routine parts of their job.

3.  How do you respond in crisis?

Hiring managers will find it useful to understand how a Risk candidate has responded to the COVID-19 pandemic and (for many businesses) subsequent move to a completely remote workplace. Cyberattacks have majorly increased as a result of the pandemic, as reported by Risk Management. Workers spread out working from home put a new emphasis on the importance of security and safe passwords. Ask Risk candidates how they communicated, trained, and educated employees about protecting sensitive data and how not to fall prey to fraudulent schemes.

4.  Describe a time when your advice to leadership improved the company trajectory.

A Risk Management candidate with a growth mindset won’t settle for the status quo. They will understand that there is always room for improvement, and they will know how to harness their influence to make positive change. Don’t forget that soft skills (like the ability to present Risk reports to a Board, train employees, manage a Risk team, and convey important information to senior management) are just as important as technical skill and execution.

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