VP, High-Risk AML Manager

About the role

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

Responsibilities

• Oversee the tiering, onboarding, and ongoing monitoring of Marijuana-Related Businesses (Tiers 1, 2, and 3).
• Ensure strict compliance with FinCEN’s MRB Guidance, validate legacy cash hoards, and manage "Marijuana Limited," "Priority," and "Termination" SAR workflows.
• 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.
• 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 TPPP’s downstream merchant underwriting and KYC programs.
• 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

• Bachelor’s degree in finance, Business, Criminal Justice, or a related field.
• Professional Certification: CAMS (Certified Anti-Money Laundering Specialist) certification is strictly required.
• Minimum 5–7 + years of banking compliance/AML experience, with at least 2–3 years in a supervisory or team lead role directly managing high-risk portfolios (MRBs, TPPPs, EB-5, or CVC/Crypto).
• Advanced understanding of the Bank Secrecy Act, FATF guidance, FinCEN regulations, and industry-standard AML monitoring software.

Benefits

• Cathay Bank offers a competitive benefits package which includes medical insurance, dental insurance, vision insurance, life insurance, long-term disability insurance, flexible spending accounts (FSAs), health saving account (HSA) with company contributions, voluntary coverages, and 401(k).

Pay

$94,900 – $110,000 / year

Pay determined based on job-related knowledge, skills, experience, and location.

This position may be eligible for a discretionary bonus.

Contact Information

To request accommodation for a disability, please contact Mickey Hsu, FVP, Employee Relations Manager, at (626) 582-7370 or mickey.hsu@cathaybank.com.