VP, Assistant Manager - CRA

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

As VP, Assistant Manager - CRA assist in leading and managing a superior CRA program for the Bank with oversight responsibilities for the execution and management of an effective CRA compliance program. Managing all aspects of the 3 CRA "Tests" - Lending, Investment, and Service to ensure compliance with CRA requirements and best practices. Implementing, coordinating, and maintaining the CRA strategic plan with an emphasis on service activities.

DIRECT REPORTS

May have three to five direct reports.

ESSENTIAL FUNCTIONS

• Responsible for implementing, coordinating, and maintaining the Bank's CRA Plan.
• Assist in the establishment and timely tracking of strategic goals for all areas of CRA in order to provide better insight and achievement of a superior CRA program. Including the timely completion of the Sunshine Act report(s) and self-assessment annually.
• Responsible for oversight of the CRA Department's day to day functions.
• Oversight of the collection and qualification of small business loan data with a high degree of efficiency and accuracy.
• Purchase small business and mortgage loans as required.
• Oversight of the collection and qualification of service activity data with a high degree of efficiency and accuracy.
• Oversight of the Bank's CRA Service program; in conjunction with the SVP, Director of Community Development, manage, develop, and organize CD Service initiatives/opportunities.
• Ensure that the Bank will be in compliance with all regulatory deadlines including the submission of CRA lending data by March 1st every year and ensure that the Bank's Public File is kept current and maintained in compliance with regulatory requirements.
• Oversee the completion of meeting minutes and CRA reports for internal and regulatory purposes.
• Assist in the assessment of the community credit needs; attend at least two community events and functions per quarter.
• Assist with Community Development Investment proposals.
• Develop and conduct CRA training.
• Maintain ongoing awareness of company goals, regulatory and legislative development, and industry trends.
• Assist in the training of department and Bank personnel.
• Contribute to the development and preservation of a strong-performing, goal-oriented team.
• Complete required HR and Compliance training.

QUALIFICATIONS

• Education: Preferably a bachelor's degree in Business, Accounting, or Finance.
• Experience: Minimum of 5-7 years of experience in financial services, 3-5 years of which in CRA. Management experience required.
• Skills/Ability: Strong working knowledge of CRA regulations and general banking. Proven management skills. Strong organizational, analytical, and communications (both written and verbal) skills. Ability to communicate well with personnel of all levels, inside and outside the department. The ability to facilitate meetings and projects. Ability to work independently and meet deadlines. Proactive in identifying potential concerns and follow up to resolve issues. Strong computer skills - proficient with Microsoft products. Knowledge of CRA data collection and reporting software and SharePoint preferred but not required.

OTHER DETAILS

$120,000 - $125,400 / 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).

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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.

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