Preview Questions Operations Manager | Role Specific Skill

Question 1: What is the most effective way to mitigate operational risk in financial reporting systems?

Which action should you take?

Choose only one option

Implementing strong internal controls and regular reconciliation processes

Automating all financial reporting processes without oversight

Focusing only on high-priority reports

Reducing the number of reporting requirements

Question 2: What is the best approach for ensuring adequate resource allocation during unpredictable market conditions in BFSI operations?

Which action should you take?

Choose only one option

Focusing on strict adherence to original resource plans

Maintaining a flexible resource pool that can be adjusted quickly

Reducing operational activities to the minimum

Focusing only on increasing revenue generation

Question 3: How can collateral management mitigate credit risk in a financial institution?

Which action should you take?

Choose only one option

By ignoring collateral and relying on borrower reputation alone

By ensuring adequate collateral is obtained for all high-risk loans

By focusing only on unsecured loans

By reducing the value of collateral to minimize loan default risk

Question 4: What is the role of internal audits in the risk mitigation framework of a BFSI institution?

Which action should you take?

Choose only one option

Internal audits are used only after a significant risk event has occurred

Internal audits help identify and rectify potential risk exposure areas by evaluating internal controls

Internal audits are focused on financial risks only, without evaluating other aspects of operations

Internal audits are used solely for compliance purposes without addressing operational risks

Question 5: How can benchmarking against industry standards improve budget management for an Operations Manager in a BFSI firm?

Which action should you take?

Choose only one option

It creates an opportunity to blindly follow competitors' budget strategies without considering internal goals

It helps set realistic targets and identifies areas for cost optimization based on industry best practices

It limits budget flexibility by tying it to static industry standards rather than evolving market conditions

It ensures that no innovative solutions are adopted, as the focus is purely on following existing standards

Question 6: In BFSI process improvement, how can the Pareto Principle (80/20 Rule) be applied to improve operational workflows?

Which action should you take?

Choose only one option

Prioritizing customer complaints over process inefficiencies

Focusing on the top 20% of causes that contribute to 80% of issues

Eliminating the least productive team members

Distributing effort evenly across all process areas