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 proudly foster growth and development to empower 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.

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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.

• 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 1
  
  LOD.
• Provide 2
  
  LOD review and challenge and coordinate with 2
  
  LOD 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 risk systems.

Education:

• Bachelor's degree in Finance, Risk Management, Business Administration, or related discipline (Master's preferred)

Experience:

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

Skills/Ability:

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