FVP, Manager, Lead Operational Risk
El Monte, CA, USA
Req #2321
Wednesday, July 17, 2024
People Drive Our Success
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 Lead Operational Risk Manager is responsible for helping implement and manage the operational risk management framework and methodology across the Bank including but not limited to the risk identification and assessment processes and procedures, control testing oversight, Second Line effective challenge and various regulatory compliance support tasks. This role and its related responsibilities reside within the Second Line of the Enterprise Risk Management function. The role contributes to fulfilling organizational and functional business objectives through the achievement of operational excellence and the implementation of the operational risk framework (ORMF), which is part of overall enterprise risk management framework (ERMF) of the Bank. Provide Second Line subject matter expertise and guidance to First Line department leaders (i.e., risk owners) and Business Risk & Control Officers (BRCs) in support of the Bank's overall business and risk management objectives.
DIRECT REPORTS
One (1) direct report
ESSENTIAL FUNCTIONS
- Assists in implementing and managing a comprehensive Second Line Operational Risk Management framework, including policies, standards, procedures, and controls.
- Oversees the implementation and on-going management of Operational Risk processes, tools, policies, standards, and procedures in alignment with Operational and Enterprise Risk Management frameworks.
- Serves as a champion of refining building, and deploying governance processes to oversee identification, escalation, and aggregation of issues and emerging risks.
- Assist in managing the aggregation of enterprise-wide identification of control exceptions, issues management & remediation and change control monitoring, reporting and documentation.
- Spearheads the implementation and execution of the Enterprise-wide Risk and Control Self Assessments (RCSA) and the annual Enterprise Risk Assessment (ERA) from a Second Line oversight perspective, including QA/QC review and identification of gaps in processes or controls and review of First Line remediation activities.
- Coordinates with the Director of Enterprise Risk Management to provide risk leadership and direction to business leaders and BRC's by building effective and trusted working partnerships across the Bank.
- Conducts timely analysis of First Line risk, control and loss history information to generate management and board level risk profile insights and reports.
- Represents the Second Line on Operational Risk related projects and initiatives, proposed product/system development, or enhancements and/or process improvements, etc.
- Provides Second Line effective challenge and oversight of First Line developed issues, risk mitigation strategies and related action/resolution plans.
- Assists in reviewing and maintaining, in partnership with the First Line, an incident and issue management processes including driving insights and trends from associated data for management reporting and response.
- Manages, analyzes and reports on relevant performance monitoring metrics including Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) to track the effectiveness of risk management activities and potential adverse risk trends.
- Helps develop and facilitate on-going risk management training to key internal stakeholders to empower business unit leadership and BRC's to identify manage risk and effective and consistent manner.
- Collaborates with internal stakeholders, such as business leaders and BRC's, Compliance, and Internal Audit, to promote a culture of risk awareness and accountability.
- Assists Director of Enterprise Risk Management to effectively manage various Risk Committee meetings (e.g., Operational Risk Committee) by developing agendas and presentations, conducting necessary research, taking meeting minutes, etc.
- Stays abreast of the industry, Regulatory developments, and emerging risks and trends to ensure the effectiveness and relevance of the operational risk management program.
QUALIFICATIONS
Education:
- Bachelor's or Master's degree in Finance, Business Administration, Risk Management, or a related field; Advanced degree or professional certification (e.g. FRM, CRM, CFA) preferred.
Experience:
- 7+ years of experience in operational risk management, preferably in the banking of financial services industry with a minimum of 3 of those years in management.
- Knowledge and experience encompassing a wide range of banking / financial services functions and associated operational risks.
- General understanding of the principles of banking regulations.
- Exposure to or experience interacting with federal and state regulators as well as internal and external auditors.
- Experience using Governance, Risk and Compliance (GRC) systems. Specific experience working in Diligent/HighBond and/or ServiceNow is a plus.
Skills/Ability:
- In-depth understanding of operational risk management principles, frameworks, and methodologies within the financial services industry. This includes knowledge of regulatory requirements (such as Basel III) and industry best practices.
- Ability to analyze complex data, identify trends, and assess risks in operational processes and systems, in partnership with the First Line.
- Proficiency in using and applying GRC technology tools, including the related workflows and functionality.
- Capacity to identify potential issues, develop proposed solutions, and implement recommended strategies effectively.
- Strong verbal and written communication skills are essential for effectively interacting with stakeholders at all levels of the organization. This includes preparing reports, presenting findings, and providing recommendations.
- Ability to work collaboratively with stakeholders and attain agreement across all three lines such as internal audit, compliance, and departments/business units.
- Being meticulous and thorough in assessing risks, evaluating controls, and monitoring risk mitigation and performance measures in a Second Line capacity.
- Experience in managing risk management projects, including planning, execution, and monitoring progress to achieve objectives within timelines.
OTHER DETAILS
$150K - $177K / year
Pay determined based on job-related knowledge, skills, experience, and location.
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).
Cathay Bank may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our Privacy Policy.
Cathay Bank is an Equal Opportunity and Affirmative Action Employer. We believe in diversity, equity, and inclusion in the workplace. 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.
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.
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