GENERAL SUMMARYThe 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.
This role leads a specialized investigative unit focused on mitigating money laundering, terrorist financing, and sanctions risks within Marijuana-Related Businesses (MRBs), the EB-5 Immigrant Investor Program, and Third-Party Payment Processors (TPPPs).
The Manager ensures all onboarding, periodic reviews, and transaction monitoring activities comply with the Bank Secrecy Act (BSA), USA PATRIOT Act, FinCEN guidance, and federal banking regulations.
DIRECT REPORTSThe incumbent has direct reports.
ESSENTIAL FUNCTIONSMRB Compliance Management: 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.
EB-5 Investor Program Surveillance: 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.
TPPP & Merchant Risk Management: 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.
Team Leadership & Operational Execution Unit Management: 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.
QUALIFICATIONSEducation:
- Bachelor's degree in finance, Business, Criminal Justice, or a related field.
Professional Certification:
- CAMS (Certified Anti-Money Laundering Specialist) certification is strictly required.
Experience:
- 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).
Technical Knowledge:
- Advanced understanding of the Bank Secrecy Act, FATF guidance, FinCEN regulations, and industry-standard AML monitoring software.
OTHER CONSIDERATIONSThis position requires strong ownership of the learning process, prioritization and substantial analytic skills, case management skills and an ability to drive positive change. This position requires sound judgment, attention to detail, and the highest degree of confidentiality and accuracy in the handling of information and in discharging responsibilities.
Effectively and voluntarily takes on additional roles and responsibilities including participating in special projects; and working closely with branches and business lines.
Cooperates and works effectively with others; recognizes, supports, and respects others. Regulatory and Internal Audit examination results will be considered in evaluating the individual's performance.
OTHER DETAILS$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.
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).
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