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Cathay Bank · 6 days ago

VP, Operational Risk Business Partner

El Monte, CA

Full-time

Onsite

Mid, Senior Level

$110K/yr - $133K/yr

5+ years exp

Cathay Bank is a financial institution that values its team members and fosters a caring culture. They are seeking a VP, Operational Risk Business Partner to lead the Operational Risk Management function, providing expert guidance and oversight to ensure effective risk identification and management across the organization.

BankingFinanceFinancial Services

Responsibilities

Lead and coordinate the annual end to end and ongoing RCSA process with front-line risk managers across business units

Provide independent oversight of operational risk management activities performed by the First Line of Defense

Provide strong, constructive challenge to ensure comprehensive risk and control identification, assessment, and documentation. Validate risk ratings, control effectiveness, residual risk levels, and action plans; ensure consistency with policy standards and escalation thresholds. Review and approve risk and control narratives, risk taxonomy alignment, and control owner accountability

Act as a trusted advisor to business unit risk champions and process owners, offering expert guidance on risk controls, control design, and risk acceptance criteria. Facilitate risk workshops, interviews, and scenario analysis to surface emerging risks and ensure timely remediation. Facilitate constructive dialogue between 1LOD and risk governance functions

Lead the development, validation, and enhancement of the bank’s Key Risk Indicators (KRIs) in partnership with owners and SMEs. Monitor KRI performance, perform trend analysis, and recommend risk-reduction actions or escalation when indicators breach thresholds. Integrate KRI results into governance forums and reporting to senior management and risk committees

Design and deliver risk training programs, workshops, and communications to enhance risk awareness and control practices across divisions. Develop practical guidance, playbooks, and toolkits to standardize risk assessment methodologies and control testing approaches

Collaborate with second-line SMEs (e.g., IT, cyber, information security, business continuity, model risk, compliance) to incorporate their assessments into the RCSA and KRIs. Translate SME findings into actionable risk actions, monitoring plans, and escalation paths

Support the development and maintenance of risk libraries, control dictionaries, and standard risk assessment criteria

Prepare and present risk and control status, themes, and remediation progress to risk committees, governance forums, and senior leadership

Maintain issue and remediation tracking, ensuring timely closure and evidence of control improvements by conducting validation of all remediation plans by 1LOD

Contribute to policy interpretation, standards, and procedures related to operational risk and RCSA practices

Maintain high-quality RCSA documentation, control catalogs, and risk registers in the risk management systems

Support New Product and services launch risk assessments

Perform data-driven analyses to identify patterns, gaps, and opportunities for risk reduction

Identify opportunities to enhance RCSA efficiency, consistency, and effectiveness through process improvements, automation, and technology solutions

Participate in GRC system enhancement projects and user acceptance testing for risks systems

Promote a strong risk culture by driving accountability, constructive challenge, and timely escalation of issues

Stay current on regulatory expectations, industry

Qualification

Operational risk managementRisk Control Self-AssessmentRegulatory requirements knowledgeAnalytical skillsStakeholder managementCommunication skillsProblem-solving skillsAttention to detailCollaborative mindset

Required

Bachelor's degree in Finance, Risk Management, Business Administration, or related discipline

Minimum 5-7 years of experience in operational risk, RCSA, incident and issue management, internal controls, or audit within financial services or a similarly regulated industry

Demonstrated ability to challenge front-line risk managers and influence risk-based decision making without direct line authority

Prior experience as a second-line risk professional or risk partner with cross-functional collaboration across IT, cyber, information security, business continuity, compliance, and operations

Deep understanding of first line processes and risk/control activities

Understanding of operational risk management principles, frameworks, and methodologies within the financial services industry

Knowledge of regulatory requirements (such as Basel III) and industry's best practices

Knowledge of operational risk frameworks (e.g., Basel, ORMF), internal control standards, and incident management tools

Strong analytical and problem-solving skills; ability to interpret data and identify trends

Strong analytical thinking and attention to detail

Excellent communication and stakeholder management abilities

Ability to synthetize complex information into clear, actionable insights

Attention to detail and a proactive mindset, ability to work under tight deadlines

Collaborative mindset with a proactive attitude towards problem-solving

Preferred

Master's degree in Finance, Risk Management, Business Administration, or related discipline

Benefits

Medical insurance

Dental insurance

Vision insurance

Life insurance

Long-term disability insurance

Flexible spending accounts (FSAs)

Health saving account (HSA) with company contributions

Voluntary coverages

401(k)

Company

Cathay Bank

Glassdoor3.1

Cathay Bank is a financial services company originally founded to support Los Angeles’ growing Chinese American community. It is a sub-organization of Cathay General Bancorp.

Founded in 1962

El Monte, California, USA

1001-5000 employees