1176 Risk Management. VP/FVP, Manager, Sourcing and Procurement

General Summary Cathay Bank is seeking a visionary and transformative leader to build a new Strategic Sourcing and Procurement function designed to proactively optimize sourcing opportunities, capture extensive financial savings, better control procurement processes and third‑party risks, and accelerate strategic initiatives. The role leads the Strategic Sourcing and Procurement (SPC) function and is responsible for the strategic direction and development of this enterprise function, including sourcing, contracting and procurement operations. The leader directly manages all aspects of the function—policy, procedures, organizational design, systems/tools, templates, goal development, and execution—and also manages their own portfolio of RFPs, contract negotiations, category development and business‑unit alignment. The VP/FVP, Manager, Sourcing and Procurement will design, build and execute an effective, simple, end‑to‑end procurement process. They partner closely with leadership across the bank to optimize supplier relationships, streamline procurement processes, and ensure alignment with the company’s strategic goals and scalability requirements. As a team of one, this leader rolls up their sleeves to manage the day‑to‑day function and define the overall process with Business, Finance, Legal, Compliance, Third‑Party Risk, and Vendor Management teams. Client service, responsiveness, and collaboration are key to success for this role. Direct Reports None initially; additional positions will be added as the function scales. Responsibilities Define strategy and execution of sourcing and procurement. Own sourcing and procurement‑related policy, procedures, systems, tools, templates, performance metric development, contract and spend‑related approval requirements, and centrally managed third‑party providers (TPPs). Provide direction and mentorship to all sourcing and procurement staff. Prioritize initiatives and work efforts, assigning projects to sourcing and procurement staff. Lead the function and manage own portfolio of categories and BU engagements, including running RFPs and negotiating and drafting agreements. Partner with Third‑Party Risk Management, Legal and other experts to develop a seamless and efficient sourcing process that incorporates key risk and control considerations. Continuously improve the program, simplifying, streamlining, automating while balancing risks and rewards. Establish department goals and objectives, including savings targets and ongoing KRI/KPI improvement. Effectively manage centrally‑owned TPPs and other sourcing‑owned TPPs (e.g., office supplies, document shredding and storage, managed print, P2P system) according to bank‑established TPP risk requirements. Report and escalation to applicable committees regarding performance against objectives and program non‑compliance or risky TPP engagements. Complete all bank‑required training in a timely fashion. Qualifications Education Bachelor’s degree in Business Administration, Economics, Finance, Supply Chain Management, or related field; MBA or Juris Doctorate preferred. Experience Minimum 5‑7 years (VP level) or 7‑10 years (FVP level) of banking‑specific sourcing/procurement experience, including program design and development from the ground up. Experience in identifying savings opportunities, creating negotiating leverage, category management, and leading RFP and contract negotiations and drafting (business and legal terms). Extensive knowledge of banking products, business models, operations and related regulatory requirements. Direct and significant experience in managing a sourcing and procurement function. Demonstrated success in developing and implementing all aspects of a sourcing and procurement operations function from scratch, including policies, procedures, systems/tools, templates, controls, and related change management and communications. Experience evaluating and managing spend categories, not just transactional or supplier‑specific initiatives. Experience working directly with all levels of the bank, from individual contributors to the C‑Suite. Experience leading virtual and cross‑functional teams. Experience utilizing industry‑standard technology to support the source‑to‑pay process, including RFPs, workflow management, contract lifecycle management, e‑signatures, purchase orders, etc. Qualities, Skills, and Abilities Strong interpersonal skills. Dynamic change agent. Excellent leadership, communication, and stakeholder management skills. Keen eye for detail. Comprehensive understanding of banking processes and technologies. Strong understanding of modern procurement processes, innovative tooling, and best practices. Strong critical thinking and decision‑making skills with the ability to drive consensus among multiple participants. Ability to guide others with executive‑level communication and presentation skills. Strong team player with a track record of working successfully with cross‑functional business stakeholders. Strong negotiation skills with proven ability to negotiate and draft contracts and manage cross‑functional alignment with strategic changes. Ability to identify potential risks and liabilities as they relate to policies and business objectives and proactively develop solutions on contractual terms in collaboration with internal stakeholders. Ability to devise and drive procurement strategies based on category management and spend analyses. High level of integrity. Ability to analyze financial and other relevant data, including macro‑economic factors, to make sound sourcing and contracting recommendations. Strong knowledge of the regulatory environment specific to sourcing and contracting, as well as to the broader banking business. Other Details Salary: $104,900 – $177,200 per year. Pay is determined based on job‑related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus. Benefits: a comprehensive benefits package including medical, dental, vision, life, long‑term disability, flexible spending accounts (FSAs), health savings account (HSA) with company contributions, voluntary coverages, and 401(k). Full‑time employees receive the full benefits package. Cathay Bank is an Equal Opportunity and affirmative action employer. We welcome applications 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. This contact information is for accommodation requests only and cannot be used to inquire about the status of applications. #J-18808-Ljbffr Cathay Bank