Compliance Monitoring Officer

GENERAL SUMMARY

Primarily responsible for supporting the Bank's compliance monitoring program. In this regard, the Compliance Monitoring Officer monitors changes in applicable laws and regulations, performs compliance reviews and generates reports to the Compliance Monitoring Manager regarding their observations, findings, and regulatory violations. The Compliance Monitoring Officer is responsible for assisting the Compliance Monitoring Manager in performing the Compliance Risk Assessment and related Compliance monitoring program and monitoring schedule, as well as working with the Deposit and Credit Compliance Officers to support compliance within the various lines of business and support functions throughout the Bank.

ESSENTIAL FUNCTIONS

• Assist with the development, scoping and prioritization of the Bank's compliance monitoring calendar.
• Complete an average of 4 - 5 regulatory compliance reviews quarterly as assigned by the Compliance Monitoring Manager.
• Provide clearly written reports that identify the "root cause" of identified violations of regulation or Bank policy/procedure.
• Maintain sufficient work papers to support compliance monitoring findings and observations.
• Documents findings in workpapers and generates written report of findings.
• Assist with the completion of the Compliance Risk Assessment.
• Reviews departmental compliance and operational processes and recommends enhancements to mitigate compliance risk and ensure the Bank's compliance with applicable state and federal regulations, laws and policies.
• Meets with department managers to discuss and provide recommendations for corrective action for compliance monitoring findings.
• Conducts follow-up reviews of corrective actions taken to address compliance exceptions reported.
• Ensures that compliance monitoring activities comply with Compliance Department standards.
• Identifies appropriate compliance monitoring resources to ensure completion of the Compliance Monitoring schedule; including resources in the Compliance Department, within business units and from third parties.
• Maintain up-to-date knowledge of the state, federal, and other regulations that affect the Bank.

QUALIFICATIONS

• Education: Bachelor's degree preferred.
• Experience: 5+ years Compliance Audit and/or monitoring experience in a banking environment. Relevant banking experience and related compliance training required.
• Skills/Ability: Working knowledge and understanding of state and federal regulations for banks, with an emphasis on credit compliance regulations. Working knowledge and experience in compliance monitoring techniques and work program development. Detail-oriented and self-motivated. Strong organizational skills. Ability to communicate clearly, verbally and in writing, with directors, senior managers, regulatory examiners and third party consultants. Strong background in HMDA reporting requirements, Fair Lending laws and regulations, the Truth-In-Lending Act, the Real Estate Settlement Procedures Act, including mortgage origination documentation, the requirements of the Flood regulations, and new account requirements. Demonstrated ability to analyze compliance risk using best practice methods and risk management principles. Ability to work independently in a fast paced and multi-tasking environment. Excellent problem solving skills and ability to work within tight time constraints. Proficient PC skills and with Microsoft office programs. CRCM certification is preferred. Audit certification, such as CIA or CBA preferred.

OTHER DETAILS

$70K - $90K / 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).

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 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.

Click here to view the "Know Your Rights: Workplace Discrimination is Illegal" Poster:
Poster- English

Poster- Spanish

Poster- Chinese Traditional Poster- Chinese Simplified

Cathay Bank endeavors to make www.CathayBank.comaccessible 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.