Sr. Analyst High Risk EDD

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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 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

The Senior High Risk Enhanced Due Diligence (EDD) Analyst is responsible for reviewing systematic Anti-Money-Laundering (AML) alerts and Customer Due Diligence (CDD) alerts and conducting annual High Risk Enhanced Due Diligence (EDD) reviews on high-risk customers - consumer and commercial.

The Senior High Risk EDD Analyst has an understanding of key topics within the high risk client lifecycle management process, including : Source of Wealth corroboration, negative news and adverse media screening, collection of required Ultimate Beneficial Owner (UBO) documentation, nature and purpose of account, monitoring / mitigating of potential suspicious transactions, changes in regulatory rules, recent trends and enforcement actions, peer group leading practices, client risk rating, other AML related red flags.

This position requires strong ownership of the learning process, prioritization and substantial analytic skills, case management skills and an ability to drive positive change. This position requires sound judgment, attention to detail, and the highest degree of confidentiality and accuracy in the handling of information and in discharging responsibilities.

Effectively and voluntarily takes on additional roles and responsibilities including participating in special projects; and working closely with branches and business lines.

ESSENTIAL FUNCTIONS

• Conducts comprehensive investigations of customers by utilizing CIP information, occupation, line of business, income methods, and transaction activity as identified by the AML Solution based on predefined risks.
• Contacts branches and business lines for clarification of client profile and / or account activity, as needed.
• Performs transaction analysis of several types of businesses and captures a strong understanding of account purposes.
• Prepares detailed High Risk EDD Reports for complex relationships and higher risk clients, including Politically Exposed Persons, Non-Bank Financial Institutions, Privately Owned ATM, Marijuana Related Businesses, etc., which include transactional analysis summaries and negative news findings utilizing using tools such as Internet search engines and other non-documentary search engines.
• Analyzes system generated and manually created alerts for high-risk client review and suspicious activities.
• Completes SARs (if necessary) in a timely manner.
• Stays well-informed on current money laundering and terrorist financing behaviors, issues, criminal typologies, industry best practices, regulations, and developing trends.

QUALIFICATIONS

Education :

Experience :

Skills / Ability :

OTHER CONSIDERATIONS

Cooperates and works effectively with others; recognizes, supports, and respects others. Regulatory and Internal Audit examination results will be considered in evaluating the individual's performance.

OTHER DETAILS

$28.85 - $33.65 / hour

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.

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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, 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.