VP, High-Risk AML 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 VP High Risk Industry AML Manager is responsible for the design execution and daily oversight of the banks Enhanced Due Diligence (EDD) framework for highly complex high-risk customer segments.

This role leads a specialized investigative unit focused on mitigating money laundering terrorist financing and sanctions risks within Marijuana-Related Businesses (MRBs) the EB-5 Immigrant Investor Program and Third-Party Payment Processors (TPPPs).

The Manager ensures all onboarding periodic reviews and transaction monitoring activities comply with the Bank Secrecy Act (BSA) USA PATRIOT Act FinCEN guidance and federal banking regulations.

DIRECT REPORTS

The incumbent has direct reports.

ESSENTIAL FUNCTIONS

MRB Compliance Management: Oversee the tiering onboarding and ongoing monitoring of Marijuana-Related Businesses (Tiers 1 2 and 3).
Ensure strict compliance with FinCENs MRB Guidance validate legacy cash hoards and manage Marijuana Limited Priority and Termination SAR workflows.

EB-5 Investor Program Surveillance: Manage the specialized tracking of foreign investor capital pathing into Regional Centers. Ensure meticulous Source of Funds (SOF) and Path of Funds (POF) verification for foreign nationals PEPs and high-net-worth clients.

TPPP & Merchant Risk Management: Oversee the audit and review of Third-Party Payment Processors. Detect and mitigate nested processing risks monitor for excessive chargebacks and evaluate the adequacy of the TPPPs downstream merchant underwriting and KYC programs.

Team Leadership & Operational Execution Unit Management: Supervise train and mentor a team of specialized Senior EDD Analysts and Investigators.

Conduct reviews and sign-offs on high-risk customer risk ratings complex EDD profiles and escalation memos prior to executive or committee submission.

Update and implement standard operating procedures (SOPs) matching evolving regulatory changes in high-risk sectors.

Manage team workflows to ensure periodic reviews and high-risk account renewals are completed accurately within strict institutional deadlines.

Act as the primary Subject Matter Expert (SME) for the high-risk client portfolio during internal audits and federal regulatory examinations.

Prepare comprehensive data trend analyses and risk metric reports for presentation to the EVP FCU Director Committees and the Board of Directors.

QUALIFICATIONS

Education:

• Bachelors degree in finance Business Criminal Justice or a related field.

Professional Certification:

• CAMS (Certified Anti-Money Laundering Specialist) certification is strictly required.

Experience:

• Minimum 57 years of banking compliance/AML experience with at least 23 years in a supervisory or team lead role directly managing high-risk portfolios (MRBs TPPPs EB-5 or CVC/Crypto).

Technical Knowledge:

• Advanced understanding of the Bank Secrecy Act FATF guidance FinCEN regulations and industry-standard AML monitoring software.

OTHER CONSIDERATIONS

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.

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

OTHER DETAILS

$94900 $110000 / year
Pay determined based on job-related knowledge skills experience and location.
This position may be eligible for a discretionary bonus.

Cathay Bank offers itsfull-timeemployees 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 ourCalifornia 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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Required Experience:

Exec