Compliance Monitoring Officer

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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

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).

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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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