Sample interview questions: How do you assess and manage financial risks associated with changes in biotechnology regulations?
Sample answer:
Assessing Financial Risks of Biotechnology Regulation Changes
- Stakeholder Analysis: Engage with key industry groups, regulators, and scientists to gain insights into potential regulation changes and their impact on the company.
- Regulatory Monitoring: Track legislative and policy developments to identify emerging regulatory risks and their timelines.
- Sensitivity Analysis: Model financial performance under various regulatory change assumptions using historical and market data.
- Expert Consultation: Seek advice from external consultants with expertise in biotechnology regulations and financial risk management.
- Internal Risk Assessment: Evaluate the impact of potential regulation changes on revenue streams, operating costs, and research and development (R&D) activities.
Managing Financial Risks of Biotechnology Regulation Changes