Top 20 GRC Interview Questions to get a High-Paying Job

GRC (Governance, Risk, and Compliance ) has become an important part of every big company today. There is a lot of scope in this field today and along with that it is a bit difficult too. But have you read it? Obviously if you have come to our blog then you must have definitely read it but was reading it your main motive? I know before studying it, you must have seen many things that after doing it there will be a good job, a good position, a good salary package. 

But now you are sure that you have studied it but now when you go for the interview for the job, it is not becoming clear. Whatever you have studied and when you go in front of the interviewer, every time he asks a question on hearing which you go blank, then don’t worry in today’s blog we have brought Top 20 GRC Interview Questions to get a High-Paying Job and we will explain all these questions to you in brief so that every doubt of yours will get cleared, so don’t worry about your interview and lets get started our today’s blog topic that is “Top 20 GRC Interview Questions to get a High-Paying Job”.

Top 20 GRC Interview Questions

First understand what is GRC and why it is important because first of all the interviewer would want to know how much you know about GRC.

Ques.1) What do you understand by GRC ?

Answer: GRC means Governance, Risk Management, and Compliance.

Governance means setting rules, policies and processes to run a company in the right direction. It includes decision-making, accountability, and transparency. You can also assume that governance is the steering wheel of a company.

Risk Management means identifying, assessing, and taking steps to reduce or manage all potential problems (risks) that may create problems for the company’s objectives. Like avoiding potholes while driving on the road.

Compliance means following and maintaining all relevant laws, regulations, standards, and internal policies of the company so that there are no problems in the growth of the company, the company keeps moving forward smoothly and does not incur any penalties.

These three things together help the company operate effectively, ethically, and sustainably. With an integrated GRC approach a company can achieve its goals, reduce losses and maintain its reputation.

Ques.2) Why is GRC important for any organization ?

Answer: Governance, Risk, and Compliance are very important for any company because it helps in taking better decisions and also saves us from losses. Which sometimes benefits the company.

Due to following compliance, the company does not face legal problems and fines and with its help the efficiency of the company also increases, people’s trust is won, the company runs for a long time. Without GRC, there can be corruption in the company.

Ques.3) What is Risk Assessment ?

Answer: Risk Assessment means identifying, analyzing, and evaluating risks that may affect the organization’s assets or operations. This process determines what risks exist, what is their chance, and what the impact might be, so that we can manage those risks.

To put it simply in an interview:

“Risk Assessment is the process in which we find risks and understand their impact and chance, so that we can control them well.”

Ques.4) What is the difference between Risk mitigation and risk management ?

Answer: Risk management– is a holistic process in which all risks of an organization are identified, analyzed, evaluated and controlled so that you decide which risk is more dangerous, which risk the organization can bear and which risk it has to take action against.

The steps of risk management include:

• Identifying the risk (eg: risk of cyber attack)
• Analyzing and evaluating the risk (how much impact it can have)
• Creating a treatment or response plan for the risk (avoid, accept, transfer, mitigate)
• Continuously monitoring the risk

Risk Mitigation- is a part of Risk Management. Its focus is on how to reduce the impact or likelihood of the risks you have identified.

Examples of Risk Mitigation:

• Taking regular backups of data
• Installing a firewall and antivirus for the network
• Encrypting sensitive data
• Providing cybersecurity training to employees
• Installing two-factor authentication

Ques.5) What are the key components of governance?

Answer: The key components of good governance are: strategic direction (the company’s goal), oversight (oversight of management), accountability (responsibility for every task), transparency (performance in work), and ethics (understanding what is right and wrong).

Clear policies and their enforcement are also very important. All of this keeps the company on track so that the company can move forward smoothly and smoothly. The company’s balance is not disturbed and it does not go off track

Ques.6) What role does the Board of Directors play in implementing a strong GRC framework?

Answer: The Board of Directors sets the “tone at the top” in GRC. They approve the GRC strategy, decide the limit of risk taking (risk appetite), and hold management accountable for GRC goals. The Board also provides necessary resources and monitors the progress of GRC. Their support makes GRC strong.

Ques.7) What are GRC tools and what are their benefits?

Answer: GRC tools are software that automates and makes GRC processes easier.

Benefits: Work is automated, all GRC information is available in one place, real-time reports are available, and processes become consistent. Teams are able to collaborate well and audit management is easy. This saves both time and money.

Ques.8) What do you understand by Business Continuity Planning (BCP) ?

Answer: The meaning of BCP is, if any major problem arises in the company – like fire, computer system breakdown, or any other problem – then make a plan so that the work of the company does not stop, it keeps going.

Think, this is a “backup plan” so that important business work does not stop and the company does not face much trouble. In simple words, this is a plan that “the shop should keep running”.

Ques.9) What do you understand by compliance audit?

Answer: Compliance audit is a kind of checking to see whether the company is properly following all the necessary rules, policies and contracts or not. Just like there are rules in school, similarly there are some external (government laws) and internal (company policies) rules for the company too. In audit, it is checked whether these rules are being followed or not so that there is no fraud and the company remains safe.

Ques.10) What is GDPR and why it’s important ?

Answer: GDPR full form is General Data Protection Regulation, which is the data privacy law of the European Union (EU). This law came into force from 25 May 2018, and its main goal is to protect the personal data of individuals.

It ensures that organizations collect, store, and process personal data transparently and securely.

GDPR is important because:

• It gives data subjects full control over their data (such as right to access, right to delete).
• It forces companies to follow strict compliance and security measures.
• If a company violates GDPR, it can face huge penalties (up to €20 million or 4% of global revenue).

I have implemented GDPR principles like data minimization, consent management, and breach notification in real-world scenarios, especially during policy making and audit processes.

Ques.11) What is common IT risks ?

Answer: Common IT risks are problems or threats that can affect IT systems, data, and networks. These risks can disrupt the organization’s operations or cause data loss.

Some common IT risks are:

• Cyber ​​Attacks: Such as hacking, phishing, ransomware.
• Data Breach: Unauthorized access or leak of sensitive information.
• System Failures: Crash or malfunction of hardware or software.
• Insider Threats: Wrong actions or negligence of employees or users.
• Malware: Viruses, worms, trojans that damage systems.
• Weak Passwords: Simple passwords that can be easily hacked.
• Unpatched Software: Not installing security updates, which creates vulnerabilities.

To put it simply in an interview:

“Common IT risks are threats that can harm our systems, data, and networks, such as cyber attacks, data breaches, system failures, and insider threats.”

Ques.12) What is risk register ?

Answer: The Risk Register is an official document that records all identified risks across the organization. It contains detailed information about each risk—such as:

• Description of the risk
• Its impact and likelihood
• Risk owner (who will handle it)
• Mitigation or response plan
• Risk status (open, closed, monitoring, etc.)

This document is an important part of the GRC (Governance, Risk & Compliance) process, as it helps track, prioritize, and effectively manage risks.

I have maintained risk registers on projects using tools like Excel, ServiceNow GRC, and Archer, where it is important to update risks timely and assign appropriate action.

Ques.13) What is Residual Risk?

Answer: Residual Risk is the risk that remains even after implementing control measures. Meaning, when you implement security controls in your systems or processes, some risk still remains, which we call Residual Risk. This risk cannot be completely eliminated, it can only be minimized.

To put it in simple terms in an interview:

“Residual Risk is the risk that remains even after implementing controls, and we have to manage it.”

Ques.14) What is SOX compliance?

Answer: SOX compliance means following the Sarbanes-Oxley Act, which was passed in the USA in 2002. Its main purpose was to prevent financial frauds and accounting scandals (like Enron, WorldCom).

SOX applies primarily to public companies, and ensures that:

Financial reporting is accurate

Internal controls are strong

Management and auditors are responsible

Section 302 and Section 404 are the most important sections of SOX:

Section 302: Management has to certify financial reports

Section 404: Internal control over financial reporting (ICFR) has to be audited

Is SOX works to test controls, create documentation, and provide audit support — especially in ITGCs (IT General Controls) and access management.

Ques.15) What is the difference between internal control and internal audit?

Answer: Internal control and internal audit are both important parts of an organization’s risk and compliance system, but their roles are different.

Internal Control:

It is the set of processes, policies, and procedures that ensure that company data is secure, financial reporting is accurate, and operations are running smoothly.

Example: Access controls, approval workflows, segregation of duties.

Internal Audit:

It is an independent function that evaluates whether internal controls are working properly. Internal auditors review, test, and suggest improvements for compliance and risk reduction.

In simple words:

Internal controls are the rules, and internal audit is the checker who makes sure those rules are followed effectively.

Ques.16) What is the difference between risk appetite and risk tolerance ?

Answer: Risk Appetite is the level of risk that the organization is willingly willing to accept to achieve its goals. Meaning, how much risk the organization is ready to take.

Risk Tolerance is the limit that the organization can tolerate risk without seriously harming its objectives. Meaning, the maximum level of risk that is safe to tolerate.

In simple words:

Risk Appetite = desire or willingness to take risk.

Risk Tolerance = limit or boundary to manage risk.

To say in an interview:

“Risk Appetite is the risk that the organization is willing to take, and Risk Tolerance is the maximum level of risk that the organization can accept without serious damage.”

Ques.17) What would you do if you discovered a serious compliance violation within the company?

Answer: If any serious compliance violation is discovered, I will first verify the facts. Then as per company policy, I will immediately inform my manager or compliance officer and provide all the details accurately. I will maintain confidentiality and provide full support in the investigation. My aim will be to protect the company from loss and promote ethical practices.

Ques.18) What types of controls are there?

Answer: There are mainly three types of controls in risk management and information security:

• Preventive Controls:

These controls prevent risks before they occur. Such as firewalls, strong passwords, and access restrictions.

• Detective Controls:

These controls detect security problems when they occur. Such as checking logs, audits, and intrusion detection systems.

• Corrective Controls:

These controls fix problems and recover systems. Such as restoring backups, applying patches, and incident response.

Simple way to say in interview:

“There are three types of controls — preventive which prevent risks, detective which detect risks, and corrective which fix problems.”

Ques.19) Difference between qualitative and quantitative risk analysis?

Answer: Qualitative Risk Analysis:

In this, risk is described using categories like high, medium, low. This analysis is subjective and relies more on opinions, experience, and judgment. The focus is on understanding the impact and probability of risk without numbers.

Quantitative Risk Analysis:

In this, risk is measured through numbers and data, such as probability percentage, financial loss amount, or expected impact. This analysis is objective and uses detailed calculations and models.

For interview in simple way:

“In qualitative risk analysis, we describe risk in words such as high or low, while in quantitative risk analysis, risk is measured through numbers and data.”

Ques.20) What is third-party risk management ?

Answer: Third-Party Risk Management (TPRM) is the process in which an organization identifies, assesses, and controls risks to its vendors, suppliers, or partners. Since security or compliance issues can also arise through third parties, it is important to manage their risk so that the overall business remains safe.

To put it simply in an interview:

“Third-Party Risk Management is the process in which we check and control risks to our vendors and partners so that our organization remains safe.”

Conclusion

So friends, these are our Top 20 GRC Interview Questions to get a High-Paying Job. If you read all these questions carefully then you will be able to answer well with confidence in your interview. While giving the interview, it is very important to keep in mind that each of your answers should be simple and clear just like we gave you clear answer to each question.

You should speak on it with confidence because, as important a role your answer plays in your interview, your way of speaking and your confidence also plays an equally important role.

The field of GRC is fast-growing and the demand for skilled professionals is also quite high in this. So just focus on studies, understand real-life examples and give your best in the interview. Always remember – with clarity, honesty and confidence you can crack any interview.

All the best for your GRC career – move ahead and achieve success!