CRA Investments Officer

About Us

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 proudly foster growth and development, empowering you to achieve your professional goals. With 60 years of thriving through economic cycles, our team members' drive and optimism have been key to our success. Together, we can make a difference in the financial future of our communities.

About the Role

Provide overall analytical support for the department, ensuring that CRA qualified investments are correctly identified, evaluated, and maintained. This position also supports the functions of the Cathay Bank Foundation by handling the intake of grant requests and distribution of funds. Responsible for completing reports that monitor and track CRA investment performance, coordinating CRA investment activities, and contributing to the implementation and maintenance of an effective CRA Compliance Program for the Bank.

Responsibilities

• Review investment documentation to identify and qualify investments reportable under the CRA.
• Interface with investment syndicators to obtain and maintain appropriate documentation for qualifying CRA investments and donations.
• Prepare and maintain Community Development Investment Spreadsheet.
• Prepare and compile CRA investment activity performance tracking.
• Obtain and review grant application packages from nonprofits to identify qualified recipients.
• Prepare and maintain grant tracking worksheets.
• Process check requests in QuickBooks software and provide checks to recipients.
• Monitor reports and assist in the preparation of quarterly reports, self-assessment, and strategic plans.
• Provide Investment Status Report for Director of Community Development and regional managers.
• Coordinate Foundation Grant Committee and Board meetings, prepare agenda and documentation, and distribute to committee members.
• Prepare minutes for Foundation Grants Committee and Foundation Board meetings.
• Attend at least six CRA activities annually and participate in CRA service hour opportunities.
• Assist with the maintenance of CRA information updates – Intranet, Public File, Bulletin, forms, and charts.
• Assist in reviewing CRA compliance data that conforms to internal policy and procedures and external regulations.
• Complete assigned training courses in a timely manner.

Requirements

• Bachelor’s Degree preferred in Business, Accounting, or Finance.
• 1–2 years’ banking experience, preferably in lending.
• Some working knowledge of accounting or loan underwriting.
• Good organization and analytical skills.
• Good verbal and written communication skills.
• Ability to work independently and meet deadlines.
• Highly organized, results-oriented with strong attention to detail and good follow-through skills.
• Highly energetic, enthusiastic, and self-motivated.
• Willingness to work overtime occasionally to meet deadlines and attend CRA activities.
• Ability to work offsite to perform service hours and attend CRA activities.
• Strong computer skills; proficient with Microsoft Office products.
• Basic knowledge of SharePoint preferred, but not required.

Pay

$80,000 - $95,000 / year. Pay determined based on job-related knowledge, skills, experience, and location. This position may be eligible for a discretionary bonus.

Benefits

Cathay Bank offers its full-time employees a competitive benefits package, including:

• Medical, dental, and vision insurance.
• Life insurance and long-term disability insurance.
• Flexible spending accounts (FSAs) and health savings account (HSA) with company contributions.
• Voluntary coverages.
• 401(k) retirement plan.