KYC Analyst

Cathay Bank - Headquarters; California, Monterey Park (MO, CA); On-site; Full time

Job summary

A leading financial institution is seeking a Know Your Customer Analyst to support the Customer Identification Program and ensure compliance with AML regulations. The role involves conducting due diligence, verifying data accuracy, and performing risk assessments on new customers. Ideal candidates will have a strong background in financial regulations and excellent analytical skills. Join us to contribute to a culture of growth and success while making a positive impact on our communities.

Benefits

Medical Insurance

Dental Insurance

Vision Insurance

Life Insurance

401(k)

Qualifications

• 3+ years of investigative experience with emphasis on BSA/AML.
• Familiarity with U.S. BSA/AML Laws/Regulations required.

Responsibilities

• Perform back-office support for Customer Due Diligence.
• Conduct research on new customers for risk assessment.

Skills

Analytical Skills

Problem Resolution

Communication

Multi-tasking

Flexibility

Education

Bachelor's Degree in related fields of business or finance

Tools

Microsoft Suite

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.

Apply today!

What our team members are saying:

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Learn more about us at cathaybank.com

GENERAL SUMMARY

The Know Your Customer Analyst is responsible for performing back-office support in relation to the client's Customer Identification Program/Anti-Money Laundering (AML) Customer Due Diligence Program, such as, but not limited to, initial Customer Due Diligence (CDD) screening, collection of missing/required documentation and to ensure the accuracy of data (NAICS, BSA Risk Codes, etc.) for both deposit and lending customers. This function will be for Quality Control purposes for "day after" review once boarded to the Bank's core system. Business line will be informed of any possible discrepancies.

The Know Your Customer Analyst will also perform research on new customers consisting of OFAC and negative news screening (Bridger Insight) and identification of associated businesses when applicable (Lexis Nexis, Secretary of State research and other web research, etc.). Business Units will be notified when a customer poses great risk to the bank.

ESSENTIAL FUNCTIONS

• Maintains a current knowledge of the Bank Secrecy Act and related anti-money laundering and OFAC regulations.


• Verifies system onboarding completion, including but not limited to, occupation/type of business, mailing address, expected account activity (countries, currency, etc.), supplier/vendor, beneficial ownership, and NAICS/risk code segment.


• Conducts non-documentary validation such as google search string for money laundering/fraud/corruption, verifying business status, Lexis Nexis, etc.


• Inform business unit of any discrepancies.


• Other responsibilities assigned by the BSA Officer or designee.


• Regular overtime is required, this includes occasional weekend days.

QUALIFICATIONS

• Education:
  
  
  
  
  • Bachelor's Degree in related fields of business or finance, preferred.
  
  
  
  


• Experience:
  
  
  
  
  • 3 or more years of investigative or related experience with specific emphasis on BSA/AML, SDD/KYC and OFAC.
  
  
  • Familiarity with U.S. BSA/AML Laws/Regulations required.
  
  
  
  


• Skills/Ability:
  
  
  
  
  • Strong understanding of Financial Institutions business and relevant products/services.
  
  
  • Strong analytical and problem resolution skills.
  
  
  • Excellent communication skills, both written and verbal.
  
  
  • Ability to work well independently and with others.
  
  
  • Ability to multi-task prioritize deliverables in a timely and effective manner.
  
  
  • Flexibility to adapt to changing priorities to meet business needs.
  
  
  • Proficient in the Microsoft suite of products and Internet-based research.
  
  
  
  

OTHER CONSIDERATIONS

Cooperates and works effectively with others; recognizes, supports, and respects others.

Results of Bank's BSA/AML examinations will be considered in evaluating the individual's performance.

OTHER DETAILS

$25.96 - $33.65 / hour
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 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.

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Cathay Bank endeavors to make www.CathayBank.comaccessible 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.