VP, New Account Manager

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
The New Accounts Back Office Manager is responsible for overseeing all back-office functions related to consumer and business account onboarding and callback process. This role ensures timely, accurate processing of new accounts while ensuring regulatory compliance (BSA/AML) Operational and internal policies. Manages the onboarding lifecycle for new accounts, including documentation, and regulatory requirements. Acts as a primary liaison between frontline and internal teams (Compliance, FCIU, Treasury Services, Operations). Drives process improvements, and provide leadership, from an operational perspective to team members to help with onboarding new and existing clients. Directly and through subordinates, manage and coordinate operational activities for the Bank’s Deposit Operations departments. Ensure quality service and effective and efficient operations support for all the Bank’s clients.

DIRECT REPORTS

The incumbent supervises up to (8) Deposit Operations Team Members/Officers (depending on Branch Services’ staffing requirements).

ESSENTIAL FUNCTIONS

• Manage daily back-office operations supporting new consumer and business deposit accounts, including review, approval, and maintenance activities.
• Ensure compliance with all applicable regulations, including but not limited to BSA/AML, CIP, OFAC, Reg CC, Reg E, Reg DD, UDAAP, and other requirements.
• Oversee quality control and exception handling related to account documentation, identity verification, beneficial ownership, and account restrictions.
• Lead, coach, and develop back-office staff; conduct performance reviews, provide ongoing training, and support employee engagement.
• Establish and monitor service-level agreements (SLAs), productivity metrics, and quality standards
• Partner with Compliance, Risk, Fraud, and Internal Audit to address findings, implement corrective actions, and support regulatory exams.
• Identify opportunities to improve workflows, reduce manual processes, and enhance customer and branch experience through automation and procedural improvements.
• Maintain and update policies, procedures, and desk guides related to new account processing.
• Support system enhancements, vendor relationships, and testing related to account opening platforms and core systems.

Prepare and present operational reports, trend analysis, and management updates.

• Participate in the development and enhancement of equipment and/or training procedures or programs which will support products and/or service; may participate in project task forces and/or bank wide user groups to represent department/division on training or system needs.
• Plan and schedule activities within the areas of responsibility and coordinate with related departments; ensure operational schedules are met.
• Maintain knowledge of all products and services offered in assigned areas. Keep abreast of new products and services as well as changes to existing products and services.
• Develop and maintain contingency or disaster recovery plan for the operations function and implements plan.

QUALIFICATIONS

Education

• College degree in Business, Finance, or related field preferred but not mandatory (or equivalent experience).

Experience

• Minimum 5-7 years of deposit operations or comprehensive knowledge of all aspects of new accounts in a financial institution.
• Minimum 3-5 years of people management or supervisory experience in operations.

Skills/Ability

• Computer experience (Microsoft Word, Excel, Outlook) required.
• Great management skills with emphasis on leading teams, managing change, and improving operational efficiency.
• Excellent interpersonal, verbal and written communication skills.
• Able to effectively interact with all Bank departments and levels of employees
• Strong attention to detail, specifically for reviewing legal documents and client data.
• Strong understanding of banking products, regulatory requirements (KYC/AML), and legal documentation.
• Requires experience in corporate banking, private banking, or investment environment.
• Experience supporting audits and regulatory exams.
• Experience in a high-volume and fast-paced environment

OTHER DETAILS

$93,400 – $110,400 / 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).

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 California Job Applicant 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.