Apply on Employer Site

Cathay Bank · 2 weeks ago

VP, Operational Risk Event Manager

El Monte, CA

Full-time

Onsite

Mid, Senior Level

$110K/yr - $133K/yr

5+ years exp

Cathay Bank is a financial institution that emphasizes a caring culture and the growth of its employees. They are seeking a VP, Operational Risk Event Manager to strengthen their operational risk event program, serving as a subject-matter expert and leading various risk management initiatives.

BankingFinanceFinancial Services

Responsibilities

Lead the end-to-end lifecycle of operational risk events: capture, validation, categorization, severity assessment, and linkage to risk controls

Develop and implement ORE policy, standards and procedures for the bank. Promote risk awareness on operational risk events and governance across levels

Develop and deliver training on event reporting standards, classification, and remediation expectations

Assess financial and non-financial impact, including loss given scenario, potential peaks, and time horizon analyses for potential aggregate losses. Distinguish between actual losses, near-misses, and “at risk” events; quantify expected and unexpected losses where applicable

Develop trend analyses, heat maps and scenario analytics to identify top and emerging risks and control weaknesses

Perform quality assurance on event reporting to ensure accuracy, completeness, and compliance with internal policies and regulatory standards

Oversee RCA (Root Cause Analysis) to identify underlying control failures, process gaps, data issues, or people/tech factors. Provide oversight and guidance as necessary to 1LOD

Provide 2LOD review and challenge and coordinate with 2LOD SMEs, as needed. Ensure events are recorded in the GRC with complete data fields (date, entity, process, event type, loss type, containment actions, financial impact, legal/regulatory considerations), including root cause analysis, impact assessment and remediation plans

Maintain inventory of tail events and aggregate exposure by business line, product, and geography

Produce timely dashboards for senior management, risk committees, and the board on Operational Risk Events, losses, and remediation status

Ensure consistent application of risk taxonomy, data quality, and governance for event classification and lessons learned

Maintain high-quality data in the operational risk system, ensure data lineage, completeness, and accuracy. Define and enforce data standards, taxonomies, and ontologies for OR events

Analyze operational loss data, RCSA results, and issue management to identify risk patterns

Lead or contribute to tool enhancements (workflow automation, dashboards, data visualization). Contribute to continuous improvement initiatives within the operational risk framework. Participate in system enhancement projects and user acceptance testing for risks systems

Qualification

Operational Risk ManagementBasel FrameworksData AnalysisMicrosoft ExcelPower BIStakeholder ManagementCommunication SkillsProblem-Solving SkillsAttention to Detail

Required

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

Minimum 5-7 years of experience in a risk management role, internal controls, or incident management within banking or financial services

Experience with Basel ORA frameworks

Prior role in operational risk events or incident management is highly desirable

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

Strong proficiency in Microsoft Excel (advanced functions, pivot-table, data analysis), PowerPoint and Power BI (dashboard creation, data visualization)

Collaborative mindset with a proactive attitude towards problem-solving

Strong analytical thinking and attention to detail

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

Excellent communication and stakeholder management abilities

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

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