Fvp, Director of Community Development

3 weeks ago


El Monte, United States Cathay Bank Full time

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.

**What our team members are saying**:
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GENERAL SUMMARY
The Director of Community Development is responsible for developing, implementing, and administering the Bank’s Community Reinvestment Act Compliance Program. This position establishes, participates, and maintains relationships with community based, charitable, and non-profit organizations. Develops and implements programs to ensure the Bank meets the needs of the community and achieves Cathay Bank’s CRA performance goals.

DIRECT REPORTS
Manages all team members in the department.

ESSENTIAL FUNCTIONS
- Develops, implements, and administers the Cathay Bank Community Reinvestment Act Compliance Program, including but not limited to, developing, and implementing appropriate polices, standards, and procedures.
- Partners with the line of business to create and maintain a strong, proactive culture of CRA compliance.
- Establishes and maintains relationships with various community based charitable, and non-profit organizations and activities.
- Participates in at least twelve (12) events/visits to/for various organizations to support the CRA efforts of the Bank.
- Develops and implements lending and deposit programs, products, and services for low to moderate income customers; ensures the Bank meets the needs of the community it serves and achieves CRA performance goals; develops and responds to community concerns as they arise.
- Assists loan and relationship officers in building and maintaining a community development loan and investment portfolio for the Bank by seeking, analyzing, proposing, and originating lending and investment opportunities; ensures opportunities for grants, investments, or loans to qualify under CRA guidelines.
- Completes CRA performance analysis and generates an annual performance assessment based on the Bank’s performance in CRA for the prior year. Develops creative strategies and potential solutions to strengthen or enhance CRA performance based on Cathay Bank’s annual CRA performance assessment.
- Develops data principles for ongoing analysis and outreach efforts.
- Assists in the development of presentation materials for management, Board of Directors, and regulatory agencies, at least quarterly. Participation in joint calls may be required.
- As requested, makes necessary preparations for CRA audits or exams; responds to external auditors and regulatory examiners when appropriate as related to CRA statistical and performance data; partner in remediation efforts as appropriate.
- Assists in or conducts CRA training to Bank personnel when required or as needed. If budget permits, may need to travel to various business locations including out of state, otherwise utilize other mediums such as video or telephone conferencing to ensure the effectiveness of an enterprise CRA.
- Reconciles and handles the Cathay Bank Foundation checking account, manages the Foundation budget, track and monitor account activity, and disburses funds.
- Assists the line of business Senior Management in identifying compliance risks and emerging issues applicable to their ongoing and proposed business activities.
- Collaborates with Business Line to design processes that comply with applicable laws and regulations, regulatory guidance, and emerging compliance trends, including creating and implementing effective preventive and detective internal controls.
- Develops risk-based monitoring programs to measure compliance risk.
- Develops and maintains expertise on laws and regulations applicable to Community Reinvestment Act.
- Collaborates with the line of business on corrective action or remediation plans for identified compliance weaknesses.
- Develops annual compliance plans and quarterly risk ratings.
- Reports the level of compliance risk, significant compliance issues, and risk trends to the Chief Compliance Officer, the Business Line Senior and Executive Management, the Board of Directors, or other committees operating on behalf of the Cathay Bank Board, as required.
- Tracks regulatory issues and risks.

QUALIFICATIONS

**Education**:

- Bachelor’s degree preferred but not mandatory.

**Experience**:

- Minimum 7-10 years of practical CRA compliance experience in bank of similar size and complexity required to perform duties effectively. Compliance expertise in the CRA regulatory requirements, regulatory guidance, and emerging compliance trends.



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