What do you do if you need to explain complex risk concepts to non-technical stakeholders in an interview?

To effectively communicate risk management expertise during a job interview, research the company and role, avoid technical jargon, focus on the risk's impact, use simple language, quantify likelihood and severity, and estimate potential financial cost. Demonstrate your communication skills by structuring explanations clearly, paying attention to the interviewer's reactions, and showing enthusiasm. Highlight your risk management process by explaining the framework for assessing, mitigating, and monitoring risks. If appropriate, prepare a case study for non-technical stakeholders.

It's always best to communicate in simple language, especially when discussing topics like risk management. From my experience, I've found that starting with the benefit, followed by an explanation, and then defining key terms is an effective approach. This method serves two purposes: Clarifying Communication: By starting with the benefit, we ensure that the audience understands the importance of the topic being discussed. Educating on Key Terminology: By providing an explanation and defining key terms, we not only convey the message but also educate the audience on important concepts. For a broader audience, we can use visual aids like diagrams or slides, or simply focus on discussing the impact of our analysis.

I have found that is very useful to use real life examples which the audience can relate to. For example, when speaking to someone in the manufacturing area of the business use examples relating that specific business area.

When explaining complex risk concepts to non-technical stakeholders, it's crucial to use clear, simple language and avoid jargon. Relate these concepts to everyday situations or familiar scenarios if possible. Use visuals or diagrams to illustrate your points, as these can often make abstract concepts more tangible. Explain the potential impact of the risks in practical terms, focusing on how they could affect the business objectives or bottom line. Also, be patient and open to questions, ensuring that your audience fully understands the information. It can be helpful to check their understanding throughout the conversation.

A team of executives with no background in risk management language asked me to explain "operational risk" to them in one of our projects. I opted not to go into technical definitions but instead offered operational risk as the possibility of losses due to insufficient systems, procedures, or human error within the organisation. I made the notion more approachable and realistic by utilizing terminology that they were already familiar with and by emphasizing its relevance to real-life situations.

The transformative power of analogies and context comparisons will certainly help in understanding risk topics. Practice empathy and try to make things easier. Think about opportunities to use better-known terms that convey the same meaning. If applicable and feasible, prepare your explanation before the interview and ask other colleagues to read it. Receive any feedback and adjust. Talk to communications, HR and marketing professionals, reach out to colleagues in other sectors to learn how they apply specific risk terminology. If there is a regulatory requirement for the conversation to be technical, use glossaries, drawings and images to facilitate understanding.

My experience in a training on strategic risk management has shown me that drawing parallels between risk and weather patterns helps stakeholders understand the concept more clearly. I compared manageable risks to seasonal fluctuations that could be foreseen and prepared for, but unpredictable risks were like sudden storms that could interrupt corporate operations. Not only did this comparison make risk easier to understand, but it also highlighted the significance of taking preventative measures to lessen its impact.

I used a case study to illustrate how a natural catastrophe in a critical industrial area affected the supply chain of a large manufacturer during a presentation I gave to a boardroom on the topic of supply chain risks. Stakeholders learned more about the possible weak spots in their own supply chains as a result of hearing about the particular difficulties encountered by the firm and the monetary effect of the interruption. To assist non-technical audiences better understand abstract risk concepts, real-life examples such as these are invaluable.

Examples are best way to explain complex risks. It helps to define the flow through visualization, interlinkages between various risks and their impact on multiple parts in an organization.

A group of department heads and I were having a conversation about cybersecurity threats, so I made a diagram of a network architecture with different layers of protection. I used flowcharts and diagrams to show the different layers of defence and how possible threats could penetrate them. In addition to simplifying the often-confusing topic of cybersecurity, this visual roadmap offered a clear picture of the risk landscape, which helped stakeholders spot holes and set priorities for their resources.

When someone questions during conversation means they are actively involved in it. This is an opportunity to gauge the interest of audience, clarify any doubts, & present more realistic explanation .

At a session where we discussed potential dangers to a project, I made sure there was time for everyone to speak their minds and ask questions. We successfully addressed misunderstandings and uncovered hidden hazards by creating a collaborative environment where everyone felt empowered to participate. Both the stakeholder engagement and the thoroughness of the risk assessment were improved by this interactive approach.

Risk concepts can sometimes have more technical and complex language depending on the subject covered, market sector and depth required. Sometimes, there is also a need for technical details due to legal, regulatory and auditing requirements. I believe that understanding who the interlocutor is is fundamental and adapting your message to the audience. Try to use executive summaries, which help the interlocutor to locate the themes. Graphs, matrices, tables, lists are also great allies and facilitate the communication of risk topics. Don't make a long summary, just highlight the main messages as a way to give a quick overview and engage the reader in the subject.

I created a brief "risk register" document after a risk assessment meeting that summed up the main risk elements and mitigation techniques. Stakeholders might go to this paper for a rundown of the most important risks and the agreed-upon measures to mitigate them. Stakeholders' alignment on risk priorities and responsibilities going ahead was maintained by me by reducing complicated information into practical insights.

1. Simplify Terminology: Use layman's terms to break down complex risk concepts into understandable language. 2. Visual Aids: Utilize diagrams or infographics to visually represent concepts and make them more accessible. 3. Analogies: Draw parallels with everyday situations or familiar scenarios to illustrate the concept effectively. 4. Storytelling: Share real-world examples or case studies to provide context and enhance comprehension. 5. Engage with Questions: Encourage questions to clarify understanding and ensure the information resonates with stakeholders.