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.
Click here to view the “Know Your Rights: Workplace Discrimination is Illegal” Poster:
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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 [email protected]. This contact information is for accommodation requests only and cannot be used to inquire about the status of applications.
Skills Required
- College degree in Business, Finance, or a related field, or equivalent experience
- 5-7 years of deposit operations experience or comprehensive knowledge of new account processes in a financial institution
- 3-5 years of people management or supervisory experience in operations
- Computer experience with Microsoft Word, Excel, and Outlook
- Strong management skills, including team leadership, change management, and operational efficiency improvement
- Excellent interpersonal, verbal, and written communication skills
- Ability to interact effectively with all bank departments and employee levels
- Strong attention to detail when reviewing legal documents and client data
- Strong understanding of banking products, KYC/AML regulatory requirements, and legal documentation
- Experience in corporate banking, private banking, or an investment environment
- Experience supporting audits and regulatory examinations
- 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.
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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.
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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.
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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
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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