New Account Review Specialist

Reposted Yesterday
Be an Early Applicant
Rosemead, CA, USA
In-Office
23-26 Hourly
Mid level
Financial Services
The Role
Reviews, verifies, and processes new customer account documentation to ensure accuracy, completeness, and compliance with banking regulations and internal policies. Investigates and resolves missing or inconsistent information, supports branches and internal departments, tracks documentation exceptions, performs account and system reviews, and assists with account-opening platform enhancements, vendor relationships, and testing.
Summary Generated by Built In
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.

Apply today!

What our team members are saying:
 
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Learn more about us at cathaybank.com

GENERAL SUMMARY

The New Accounts Review Specialist acts as a liaison with the Retail Banking team and other areas of the bank in reviewing, verifying and processing customer account opening documents to ensure compliance with legal, regulatory and internal bank policies. The New Accounts Specialist plays a critical role in ensuring the seamless and compliant onboarding of new clients by managing the end-to-end documentation process. The New Accounts Review Specialist investigates and corrects new account discrepancies, errors, or missing documentation.


ESSENTIAL FUNCTIONS

  • Assist branches and internal departments with proper guidance and interpretation of bank policies and procedures via telephone and email. Completes research and follow up in a timely manner to resolve documentation discrepancies.
  • 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.
  • 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.
  • Review new account documentation for adherence to regulatory and/or legal requirements and bank policy. 
  • Perform system review of customer and account level input for accuracy and completeness.
  • Track missing or incomplete documentation and communicating with internal partners to resolve issues. Run daily reports to track account opening documentation exceptions.
  • Conduct pre- and post- documentation review of new account openings to ensure all documents are accurate and complete.
  • Assist with inquiries from internal partners regarding account status or required documentation.
  • Support system enhancements, vendor relationships, and testing related to account opening platforms and core systems.
  • May be cross- trained on various positions in the department.

QUALIFICATIONS

Education:    

  • High School diploma required; college degree in business, finance, or related field preferred but not mandatory (or equivalent experience).

Experience:  

  • Minimum 2-5 years of deposit operations or comprehensive knowledge of all aspects of new accounts in a financial institution. 

Skills/Ability: 

  • Computer experience (Microsoft Word, Excel, Outlook) required.
  • 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.
  • Ability to handle sensitive financial information with discretion.
  • Experience in a high-volume and fast-paced environment 

OTHER DETAILS

$23.22 – $25.91 / 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 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.

 

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 [email protected].  This contact information is for accommodation requests only and cannot be used to inquire about the status of applications.

Skills Required

  • High school diploma or equivalent experience
  • College degree in business, finance, or a related field
  • 2-5 years of deposit operations experience or comprehensive new-account experience in a financial institution
  • Experience with Microsoft Word, Excel, and Outlook
  • Knowledge of banking products, regulatory requirements, KYC/AML, and legal documentation
  • Excellent interpersonal, verbal, and written communication skills
  • Strong attention to detail when reviewing legal documents and client data
  • Ability to handle sensitive financial information discreetly
  • Experience working in a high-volume, fast-paced environment

Cathay Bank Compensation & Benefits Highlights

The following summarizes recurring compensation and benefits themes identified from responses generated by popular LLMs to common candidate questions about Cathay Bank and has not been reviewed or approved by Cathay Bank.

  • Healthcare Strength — Health coverage includes medical, dental, and vision with the employer covering a majority of premiums. Basic life and disability insurance are also provided.
  • Retirement Support — A 401(k) with company match is available, with the match described as in line with many peer banks. Retirement planning support is also highlighted.
  • Wellbeing & Lifestyle Benefits — An Employee Assistance Program and a structured wellness program with incentives are offered, alongside entertainment and bank‑fee discounts. External recognition highlights ongoing investment in well‑being and total rewards.

Cathay Bank Insights

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The Company
HQ: Los Angeles, CA
1,210 Employees
Year Founded: 1962

What We Do

About us More than 60 years ago, we opened our doors at Cathay Bank to serve the growing Chinese American community in Los Angeles. We helped our clients put down new roots with cars and homes. We supported their businesses, which continue to sustain generations. We worked with them to cultivate communities united by a shared drive to create and build lives in Southern California. Over time, we’ve expanded along with our clients. Today, we’re a subsidiary of Cathay General Bancorp (NASDAQ: CATY), a publicly traded bank holding company that has grown to $20.9 billion in assets as of December 31, 2021. We operate in nine states across the United States, in California, New York, Washington, Illinois, Texas, Maryland, Massachusetts, Nevada, and New Jersey, and have outposts in Hong Kong, Beijing, Shanghai and Taipei. While the people we serve have evolved and changed, the spirit of what makes up our clients remain the same. Everyone believes in the power of initiative and perseverance. Each aims to achieve what’s possible. All strive to live their best lives. And we’re happy to work alongside them – providing the tools and services to get them where they want to go. Member FDIC Equal Housing Lender

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