VP, New Account Manager
About the role
The New Accounts Back Office Manager oversees all back-office functions related to consumer and business account onboarding and callback process. This role ensures timely, accurate processing of new accounts while ensuring regulatory compliance (BSA/AML).
Responsibilities
- Manage daily back-office operations supporting new consumer and business deposit accounts, including review, approval, and maintenance activities.
- 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.
- Oversee quality control and exception handling related to account documentation, identity verification, beneficial ownership, and account restrictions.
- Lead, coach, and develop back-office staff; conduct performance reviews, provide ongoing training, and support employee engagement.
- Establish and monitor service-level agreements (SLAs), productivity metrics, and quality standards.
- Partner with Compliance, Risk, Fraud, and Internal Audit to address findings, implement corrective actions, and support regulatory exams.
- Identify opportunities to improve workflows, reduce manual processes, and enhance customer and branch experience through automation and procedural improvements.
- Maintain and update policies, procedures, and desk guides related to new account processing.
- Prepare and present operational reports, trend analysis, and management updates.
- Support system enhancements, vendor relationships, and testing related to account opening platforms and core systems.
- Plan and schedule activities within the areas of responsibility and coordinate with related departments; ensure operational schedules are met.
- 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.
- Develop and maintain contingency or disaster recovery plan for the operations function and implements plan.
Requirements
Minimum 5-7 years of deposit operations or comprehensive knowledge of all aspects of new accounts in a financial institution. Minimum 3-5 years of people management or supervisory experience in operations.
Qualifications
- Education: College degree in Business, Finance, or related field preferred but not mandatory (or equivalent experience).
- Computer experience (Microsoft Word, Excel, Outlook) required.
- Great management skills with emphasis on leading teams, managing change, and improving operational efficiency.
- 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.
- Experience supporting audits and regulatory exams.
- Experience in a high-volume and fast-paced environment.
Skills/Ability
- Computer experience (Microsoft Word, Excel, Outlook) required.
- Great management skills with emphasis on leading teams, managing change, and improving operational efficiency.
- 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.
- Experience supporting audits and regulatory exams.
- Experience in a high-volume and fast-paced environment.
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
$93,400 – $110,400 / year
Schedule
This position may be eligible for a discretionary bonus.