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Vendor Management Officer

Chinatown, Los Angeles, CA, USA Req #681
Thursday, October 17, 2019

About Cathay Bank 
More than half a century ago, we opened our doors at Cathay Bank to serve the growing Chinese American community in Los Angeles. We helped our customers put down new roots with cars and homes, and we supported their businesses, which continue to sustain generations. We remain committed to enriching the journeys of our customers and the diverse communities we serve.

Over time, we’ve expanded along with our customers. Today, we’re a subsidiary of Cathay General Bancorp (NASDAQ: CATY), a publicly held bank holding company. We operate in nine states across the United States, including California, New York, Illinois, Washington, Texas, Maryland,Massachusetts, Nevada, and New Jersey, and we have outposts in Hong Kong, Beijing, Shanghai and Taipei. Forbes named us the #10 Best Bank in America in 2019.

Along with our extensive experience and innovative thinking, we bring an open mind to every interaction and a willingness to work with customers and communities in ways that best suit their needs. Our lines of business include personal banking, home mortgages, business banking, corporate lending, cash management, SBA loan programs, community lending, international banking, foreign exchange, and wealth management.

What’s Next

Are you passionate about a potential career in the financial services industry? Cathay Bank is excited about what’s to come for our company and customers. Our employees are the reason our customers can get where they want to go and aspire to what’s next.

If you bring your best self to work, see opportunities instead of obstacles, and always want to advance in your career, then Cathay Bank may be a great fit for you. We’re excited to offer our employees opportunities to grow and develop in their career journey. We also provide the resources, support and freedom so that employees can best deliver an extraordinary customer experience.

Join Cathay Bank—and be energized by what’s possible for your career!

GENERAL SUMMARY
 
The Vendor Management Officer is responsible for the onboarding and termination of third-party vendor relationships, performing annual vendor risk assessments, conducting initial due diligence and ongoing monitoring, assessing quality assurance activities, training of relationship managers and subject matter experts, maintaining inventory of bank qualified vendors, facilitating participation in working groups and management committees, advocating vendor diversity program, and preparing enterprise level MIS reporting for Senior Management.


ESSENTIAL FUNCTIONS

1. Responsible for the completion of the Vendor Management risk assessments, resolving issues with the business, and performing quality assurance reviews of completed risk assessments.
2. Develops enhancements to the risk assessment methodology, including calculations of inherent risk, control environment adequacy, residual risk, and aggregation of results.
3. Provides consultation on risks that need to be considered by the business and ensures risks are properly assessed, measured, and mitigated.
4. Supports the development of key measures and reporting to monitor the execution of the risk assessment framework and to assess the effectiveness of the control environment.
5. Improves the effectiveness of Vendor Management program by monitoring, reviewing, and enhancing processes and procedures. 
6. Completes vendor risk scorecards to document results of Oversight and Quality Assurance procedures, clearly documenting and analyzing risk exceptions and, where applicable, working with the business owners to document appropriate action plans to remediate identified risks.
7. Culminates and analyzes vendor scorecards and risk exceptions from across the enterprise to create enterprise-level risk reporting for Senior Level Management and the Board Risk Committee. 
8. Ensures all required contracts are on file and have undergone proper legal and compliance reviews; 
9. Proactively identifies contract renewal/termination timeframes, notifies the business owner in advance to determine course of action, while limiting fees to Cathay Bank, and conducts due diligence/exit procedures based on the business decision. 
10. Maintains a Bank wide vendor database capturing, categorizing, and risk rating vendors and their sub-contractors where appropriate. 
11. Updates the bank wide Vendor Management policies, processes, workflows, technologies, and procedures as needed. 
12. Creates and presents the Vendor Management Program to Risk Management and Senior Management throughout the Bank as warranted. 
13. Stays current of any Vendor Management regulatory requirements and changes as well as industry best practices which would influence the Vendor Management Program. 
14. Analyzes and assesses information, and recommends courses of action under only general supervision.
15. Responsible for adhering to and ensuring that business units comply with pertinent laws, regulations, Cathay Bank’s Compliance Policy as well as external compliance requirements.

QUALIFICATIONS

Education:    BA/BS Law, Business Administration, Accounting or equivalent work experience
Experience:  2-4+ years of vendor risk management experience (or appropriate transferrable experience)
Perform essential job functions with minimal supervision.
Demonstrated understanding of vendor management concepts and implementation / program administration techniques including vendor performance monitoring. 
Strong written and verbal communication skills, including the ability to facilitate meetings and effectively lead discussions. 
Ability to build and maintain effective working relationships with all levels of management and staff. 
High level of professionalism, commitment, and integrity. 
Commitment to growing and enhancing skills and knowledge. 
Occasional travel to and from other work locations may be required.
Skills/Ability: Must possess excellent organizational skills. Regularly exercise discretion and independent judgment. Must be proficient with Microsoft Word, Excel, and/or other similar software packages. Proven ability to work autonomously and adjust quickly to shifting priorities, multiple demands, ambiguity, and rapid change. Able to interface with business unit leaders, auditors, regulators, and third-party vendor representatives. Strong team player with ability to influence opinions without having direct authority. Excellent written and verbal communication skills.

Cathay Bank is an equal opportunity employer. It is the Bank’s policy to provide equal employment opportunities to all qualified applicants. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or protected veteran status.

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, Lori Burquez, VP, Sr. Employee Relations Manager, at (626) 279-3666 or lori.burquez@cathaybank.comThis contact information is for accommodation requests only and cannot be used to inquire about the status of applications.

 

Click here to view the EEO is the Law poster in English. Poster- English

Click here to view the EEO is the Law supplement in English.Supplement- English

 

Clic aquí para ver la EEO es la Ley póster en español. Poster- Spanish

Clic aquí para ver la EEO es la Ley suplemento en español.Supplement- Spanish

 

击这里查看EEO是法律海报的中文Poster- Chinese

击这里查看EEO是法律和补充條例的中文"Supplement- Chinese

Other details

  • Pay Type Salary
  • Chinatown, Los Angeles, CA, USA