CRA Investments Officer

Cathay Bank; El Monte (CA); On-site; USD 80,000 - 95,000; Full time

Benefits offered by this job

Medical insurance

Dental insurance

Vision insurance

Life insurance

Long-term disability insurance

FSAs (Flexible Spending Accounts)

HSA with company contributions

401(k)

Job summary

Cathay Bank is seeking an analytical professional to provide CRA investment support, evaluate investments, and help maintain the CRA Compliance Program, including grant intake and fund distribution for the Cathay Bank Foundation.

You will prepare reports, coordinate Foundation activities, monitor performance, and assist with CRA activities and documentation, working with directors and regional managers.

Qualifications

• Bachelor’s Degree in Business, Accounting, or Finance preferred.
• 1-2 years banking experience, preferably lending.
• Some working knowledge of accounting or loan underwriting; strong organization and analytical skills.

Responsibilities

• Review investment documentation to identify and qualify CRA reportable investments; interface with investment syndicators for documentation.
• Prepare and maintain Community Development Investment Spreadsheet.
• Prepare and compile CRA investment activity tracking.
• Obtain and review grant applications from nonprofits to identify qualified recipients.
• Prepare and maintain grant tracking worksheets.
• Process checks requests in QuickBooks and provide checks to recipients.
• Monitor reports and assist in quarterly reports, self-assessment, and strategic plans.
• Provide Investment Status Reports for Director of Community Development and regional managers.
• Coordinate Foundation Grant Committee and Board meetings; prepare agendas and distribute materials.
• Prepare minutes for Foundation Grants Committee and Foundation Board meetings.
• Attend at least six CRA activities annually and CRA service hours.
• Maintain CRA information updates on intranet, public file, bulletin, forms and charts.
• Review CRA compliance data per internal policy and procedures.

Skills

Accounting knowledge

Loan underwriting

Analytical skills

Communication skills

Independence

Deadline-oriented

Attention to detail

Self-motivation

Overtime flexibility

Education

Bachelor’s Degree in Business, Accounting, or Finance

Tools

Microsoft Office

SharePoint

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:

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Learn more about us at cathaybank.com

GENERAL SUMMARY

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 the completion of reports that monitor and track CRA investment performance. Assist with coordinating CRA investment 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

• 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 checks 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, 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
• Complete assigned training courses in a timely manner.

QUALIFICATIONS

• Education: Bachelor’s Degree is preferred in Business, Accounting, or Finance

• Experience: 1 - 2 years’ banking experience, preferably lending.

• Skills/Ability: 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 accomplish and meet deadlines, and to attend CRA activities. Ability to work offsite to perform service hours and to attend CRA activities. Strong computer skills; proficient with Microsoft Office products. Basic knowledge of SharePoint preferred, but not required.

OTHER DETAILS

$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.

Cathay Bank offers itsfull-timeemployees 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).

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Cathay Bank is an Equal Opportunity and Affitive 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.

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