New Account Review Specialist

New Accounts Review Specialist

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!

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 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.