CRA Data Officer

Cathay Bank; El Monte (CA); On-site; USD 92,000 - 106,000; Full time

Job summary

Cathay Bank is seeking a CRA Compliance professional to provide analytical support ensuring CRA loans are identified, evaluated, and documented. You will handle reports that monitor CRA performance for small business and community development loans, and coordinate grant programs with FHLB partners.

The role requires collaboration with Compliance and Community Development teams, and involves attending CRA events, maintaining documentation, and preparing regulatory submissions.

Qualifications

• Bachelor’s degree in Business, Accounting, or Finance required.
• 5+ years banking experience with 2+ years commercial lending or servicing.
• Working knowledge of accounting and commercial loan servicing or underwriting.
• Strong organizational and analytical skills.
• Excellent verbal and written communication abilities.

Responsibilities

• Obtain a satisfactory CRA Lending Test rating for each assessment area.
• Review lending data to identify CRA reportable loans (small business and community development).
• Input and prepare data for CRA data collection and annual submissions with precision.
• Create charts and slides documenting CRA lending status for Senior Management.
• Maintain CRA lending procedures and monitor grant programs (DAP, WISH, etc.).
• Coordinate with FHLB programs to maximize support for qualifying borrowers.
• Assist nonprofits with applications for FHLB programs (AHEAD, Empowering Homeownership).
• Prepare quarterly reports, self-assessment, and strategic CRA plans.

Skills

Banking Experience

Commercial Lending

Analytical skills

Verbal and written communication

Microsoft Office

Data analysis

Education

Bachelor’s Degree

Tools

SharePoint

CRA data collection software

Job description

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

Video Clip 1

Video Clip 2

Video Clip 3

Learn more about us at cathaybank.com

General Summary

Provide overall analytical support for the department ensuring that Community Reinvestment Act (CRA) loans are correctly identified, evaluated, and appropriately documented. Responsible for the completion of reports that monitor and track CRA performance for small business and community development loans including annual regulatory filings. Responsible for coordinating Cathay Downpayment Assistance Program and applying for FHLB grants. Participate in CRA service activities and other assignments that contribute to the implementation and maintenance of an effective CRA Compliance Program for the Bank.

DIRECT REPORTS

Incumbent has no direct reports

Essential Functions

• Obtain a Satisfactory rating for the Lending Test in each assessment area.
• Review lending data to identify and qualify loans reportable under the CRA (both small business and community development loans) for each assessment area according to internal and regulatory guidelines.
• Input and prepare data for uploading into CRA data collection software for internal review and annual regulatory submission with precision.
• Prepare charts and presentation slides documenting status of CRA lending initiatives for Senior Management, lending managers, and Branch Administration.
• Prepare and maintain Community Development Loans Spreadsheet to document lending activity for audits and regulatory exams.
• Maintain updated CRA lending procedures.
• Review, request approval, and fund Cathay Downpayment Assistance Program (DAP) Grants. Monitor amount of grants distributed in accordance with established limits.
• Coordinate Bank’s participation in Federal Home Loan Bank Board (FHLB) Workforce Initiative Subsidy for Homeownership (WISH) lending program and review documentation to ensure that loans qualify for reimbursement from the FHLB.
• Coordinate Bank’s participation in the Middle Income Downpayment Assistance Program to obtain the maximum amount of support from FHLB for qualifying borrowers.
• Assist community nonprofits with applications for FHLB’s community programs, such as, the Access to Housing and Economic Assistance for Development (AHEAD), and the Empowering Homeownership matching grant programs.
• Monitor reports and assist in the preparation of quarterly reports, self-assessment, and strategic plans.
• Assist with preparing the biennial FHLB Community Support Statement report.
• Assist with the maintenance of CRA information updates – Intranet, Public File, Bulletin, forms and charts.
• Assist with CRA activity performance tracking in other areas as needed.
• Attend at least 6 CRA events or galas annually.
• Complete assigned training courses in a timely manner.

Qualifications

• Bachelor’s Degree preferably in Business, Accounting, or Finance.
• 5 + years of banking experience, 2 + years of commercial lending or servicing experience preferrable.
• Some working knowledge of accounting and commercial loan servicing or 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 accomplish and meet deadlines, and to attend CRA activities.
• Ability to work offsite to perform service hours and attend CRA activities.
• Strong computer skills; Proficient with Microsoft Office products.
• Knowledge of CRA data collection software and SharePoint preferred but not required.

Other Details

$92,100.00 - $106,000.00 / year

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 may collect personal information from potential job candidates and applicants. For more information on how we handle personal information and your applicable rights, please review our California Job Applicant Privacy Policy.

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.

Cathay Bank endeavors to make www.CathayBank.com accessible to any and all users. If you would like to contact us regarding the accessibility of our website or need assistance completing the application process, please contact, Mickey Hsu, FVP, Employee Relations Manager, at [phone] or [e-mail]. This contact information is for accommodation requests only and cannot be used to inquire about the status of applications.