VP, Operational Risk Event Manager

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Are you enthusiastic, highly motivated, and have a strong work ethic? If yes, come join our team! At Cathay Bank - we strive to provide a caring culture that supports your aspirations and success. We believe people are our most valuable asset and we proudly foster growth and development empowering you to achieve your professional goals. We have thrived for 60 years and persevered through many economic cycles due to our team members' drive and optimism. Together we can make a difference in the financial future of our communities.

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GENERAL SUMMARY

The Operational Risk Event Manager has a key role in strengthening the organization's operational risk event program. Serve as the subject-matter expert on operational risk events (OREs) within the Basel II / III / IV framework.

Lead identification, assessment, escalation, mitigation, remediation, and reporting of material operational risk events. Act as a bridge between risk management, business lines, control functions, and regulators. Support risk-adjusted decision-making with reliable metrics for senior leadership and the board.

ESSENTIAL FUNCTIONS

• 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.

QUALIFICATIONS

Education :

Experience :

Skills / Ability :

OTHER DETAILS

$110K - $133K / year

Pay determined based on job-related knowledge, skills, experience, and location.

This position may be eligible for a discretionary bonus.

Cathay Bank offers its full-time employees a competitive benefits package which is a significant part of their total compensation. It is our goal to provide employees with a comprehensive benefits package to fit their needs which includes, coverage for medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, and flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

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Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We welcome applications for employment from all qualified candidates, regardless of race, color, ethnicity, ancestry, citizenship, gender, national origin, religion, age, sex (including pregnancy and related medical conditions, childbirth and breastfeeding), reproductive health decision-making, sexual orientation, gender identity and expression, genetic information or characteristics, disability or medical condition, military status or status as a protected veteran, or any other status protected by applicable law.

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Cathay Bank endeavors to make www.CathayBank.com accessible to any and all users. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact, Mickey Hsu, FVP, Employee Relations Manager, at (626) 582-7370 or mickey.hsu@cathaybank.com . This contact information is for accommodation requests only and cannot be used to inquire about the status of applications.