Cathay Bank - Headquarters
SVP, Director of Deposit Operations
Cathay Bank - Headquarters, Rosemead, California, United States, 91770
SVP, Director of Deposit OperationsRosemead, CA, USAReq #2272Thursday, May 30, 2024People Drive Our SuccessAre 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!GENERAL SUMMARYDirectly and through subordinates, oversees and sets the direction of the Bank's Deposit Operations Department. Typically guides all operational segments for the Bank (i.e. wires, check processing, deposit services, lockbox, automated clearing house, electronic network services, government reporting, deposit fraud loss mitigation, legal processing and research, policy and procedure maintenance and publications, and collections).Key Objectives:Client Service and Risk Management:
Proactively partners with client-facing bankers in Retail Banking and Lending to ensure high-touch client service and client experience while balancing risk and compliance requirements. Provides the same level of high quality, responsive, subject matter expertise, and support to internal colleagues/clients/business partners. Administers Bank policies and procedures and ensures compliance with applicable laws and regulations in multiple states.Automation:
Proactively identifies and evaluates banking automation opportunities, trends, and strategies to streamline processes and enhance operations efficiencies. With a sense of urgency, leads the review and makes recommendations of enhancements or changes to operational systems and procedures affecting Deposit Operations. Coordinates major system conversions or updates from an operation's perspective with Information Technology, Information Security and other key business partners and departments.Leadership Development and Succession Planning:
Provides leadership from an operational perspective to a team of team members to ensure seamless integration of mergers and/or acquisitions of other banks or business units. Identifies, attracts, develops, and retains high-caliber and high-potential talent that are capable of meeting the operational demands of a growing institution. Builds a team of leaders and subject matter experts in each operational discipline capable of assuming increased responsibilities to support succession planning strategies.DIRECT REPORTSThe incumbent manages the Manager of Wire, Deposit Operations, Branch Operations Administration, and Central Services.ESSENTIAL FUNCTIONSManages operations activities for assigned functional areas and provides direct oversight to department managers. Establishes performance standards, goals, and objectives for the responsible areas.Provides leadership and development of direct reports and leadership team to ensure the highest level of performance and competence of Deposit Operations administration; builds a deep bench of high performing team members with successorship plans, cross-training and stretch goals and objectives for each team member.May lead the development and enhancement of systems through technology and automation, equipment, or training procedures or programs which will support products and/or services; may participate in various bank committees or bank wide user groups to represent operations department on training or system needs.Proactively participates in Bank efficiency and automation initiatives and provides operations information and expertise with a sense of urgency in support of deployment and improvement of process and/or products.Plans and schedules activities within the areas of responsibility and coordinates with related departments; ensures operational schedules are met.Acts as liaison with branch and/or departments to jointly resolve problems. Communicates and interacts with Bank staff to produce effective procedures and workflow to ensure quality service levels are maintained.Identifies opportunities for the centralization of manual work to be removed from client-facing bankers.Interfaces with other departments, regions, vendors, agencies, etc. to effectively resolve client service issues. Follows up with resolution of problems to ensure timely response and client satisfaction.Ensures compliance with all applicable Federal, State, and regulatory laws and policies, and internal operating policies, procedures, and audit standards. Responsible for responding to audit exceptions. Ensures appropriate mitigants are in place to minimize repeat exceptions.Implements and monitors tracking and performance monitoring mechanisms, as necessary. Provides required reporting to keep Executive Management apprised of operations activities; makes presentations and recommendations to improve client experience, reduce cost, generate income, create efficiencies, or mitigate risk.May negotiate with attorneys on collection efforts and losses. May file claims actions to represent the best interests of the Bank. May negotiate and expedite loss claims; provide/obtain approvals.May collaborate with other bank professionals and law enforcement agencies to minimize loss exposure.Maintain knowledge of all products and services offered in Deposit Operations. Keeps abreast of new products and services as well as changes to existing products and services, industry trends, laws and regulations affecting banking operations.Develops and maintains contingency or disaster recovery plans for the operations function and implement plan(s).Plans, develops, establishes, and controls budget functions for the operations department.QUALIFICATIONSEducation:College degree in general business or finance preferred but not mandatory.Experience:Minimum 15 years of bank deposit operations experience, with a minimum of 10 of those years in management. Retail branch banking experience required.Skills/Ability:Thorough knowledge of bank operational functions, systems, procedures, various products and/or services.Strong knowledge of risks associated with banking operations and payment systems as well as industry best practices for a bank of $15 billion in assets or larger.General knowledge of various bank credit products, programs, and related documentation, as applicable.Experienced in review and implementation of banking applications, along with knowledge in support of system/bank conversions.In-depth understanding and practical application of applicable Federal and State laws and regulations.Knowledge with Audit standards and Payment systems requirements (Fedwire, Swift, Visa, etc.)Excellent leadership skills a must.Strong organizational, managerial and project management skills.Excellent interpersonal and verbal and written communication skills.Able to effectively interact with all Bank departments and levels of management and team members.Must be innovative and committed to making change, along with providing strategic context/framework for Operations (and any related Bank departments) and able to influence and lead others in implementing those changes.Must have experience and desire to identify "best practices", create/improve procedures, policies, and practices for the betterment of the Bank.Must have experience, proven ability, and a sense of urgency to identify and implement automation through technology, that results in efficiencies and/or measurable cost savings.OTHER DETAILS$210K - $235K / year. Pay determined based on job-related knowledge, skills, experience, and location.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 believe in diversity, equity, and inclusion in the workplace. 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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Proactively partners with client-facing bankers in Retail Banking and Lending to ensure high-touch client service and client experience while balancing risk and compliance requirements. Provides the same level of high quality, responsive, subject matter expertise, and support to internal colleagues/clients/business partners. Administers Bank policies and procedures and ensures compliance with applicable laws and regulations in multiple states.Automation:
Proactively identifies and evaluates banking automation opportunities, trends, and strategies to streamline processes and enhance operations efficiencies. With a sense of urgency, leads the review and makes recommendations of enhancements or changes to operational systems and procedures affecting Deposit Operations. Coordinates major system conversions or updates from an operation's perspective with Information Technology, Information Security and other key business partners and departments.Leadership Development and Succession Planning:
Provides leadership from an operational perspective to a team of team members to ensure seamless integration of mergers and/or acquisitions of other banks or business units. Identifies, attracts, develops, and retains high-caliber and high-potential talent that are capable of meeting the operational demands of a growing institution. Builds a team of leaders and subject matter experts in each operational discipline capable of assuming increased responsibilities to support succession planning strategies.DIRECT REPORTSThe incumbent manages the Manager of Wire, Deposit Operations, Branch Operations Administration, and Central Services.ESSENTIAL FUNCTIONSManages operations activities for assigned functional areas and provides direct oversight to department managers. Establishes performance standards, goals, and objectives for the responsible areas.Provides leadership and development of direct reports and leadership team to ensure the highest level of performance and competence of Deposit Operations administration; builds a deep bench of high performing team members with successorship plans, cross-training and stretch goals and objectives for each team member.May lead the development and enhancement of systems through technology and automation, equipment, or training procedures or programs which will support products and/or services; may participate in various bank committees or bank wide user groups to represent operations department on training or system needs.Proactively participates in Bank efficiency and automation initiatives and provides operations information and expertise with a sense of urgency in support of deployment and improvement of process and/or products.Plans and schedules activities within the areas of responsibility and coordinates with related departments; ensures operational schedules are met.Acts as liaison with branch and/or departments to jointly resolve problems. Communicates and interacts with Bank staff to produce effective procedures and workflow to ensure quality service levels are maintained.Identifies opportunities for the centralization of manual work to be removed from client-facing bankers.Interfaces with other departments, regions, vendors, agencies, etc. to effectively resolve client service issues. Follows up with resolution of problems to ensure timely response and client satisfaction.Ensures compliance with all applicable Federal, State, and regulatory laws and policies, and internal operating policies, procedures, and audit standards. Responsible for responding to audit exceptions. Ensures appropriate mitigants are in place to minimize repeat exceptions.Implements and monitors tracking and performance monitoring mechanisms, as necessary. Provides required reporting to keep Executive Management apprised of operations activities; makes presentations and recommendations to improve client experience, reduce cost, generate income, create efficiencies, or mitigate risk.May negotiate with attorneys on collection efforts and losses. May file claims actions to represent the best interests of the Bank. May negotiate and expedite loss claims; provide/obtain approvals.May collaborate with other bank professionals and law enforcement agencies to minimize loss exposure.Maintain knowledge of all products and services offered in Deposit Operations. Keeps abreast of new products and services as well as changes to existing products and services, industry trends, laws and regulations affecting banking operations.Develops and maintains contingency or disaster recovery plans for the operations function and implement plan(s).Plans, develops, establishes, and controls budget functions for the operations department.QUALIFICATIONSEducation:College degree in general business or finance preferred but not mandatory.Experience:Minimum 15 years of bank deposit operations experience, with a minimum of 10 of those years in management. Retail branch banking experience required.Skills/Ability:Thorough knowledge of bank operational functions, systems, procedures, various products and/or services.Strong knowledge of risks associated with banking operations and payment systems as well as industry best practices for a bank of $15 billion in assets or larger.General knowledge of various bank credit products, programs, and related documentation, as applicable.Experienced in review and implementation of banking applications, along with knowledge in support of system/bank conversions.In-depth understanding and practical application of applicable Federal and State laws and regulations.Knowledge with Audit standards and Payment systems requirements (Fedwire, Swift, Visa, etc.)Excellent leadership skills a must.Strong organizational, managerial and project management skills.Excellent interpersonal and verbal and written communication skills.Able to effectively interact with all Bank departments and levels of management and team members.Must be innovative and committed to making change, along with providing strategic context/framework for Operations (and any related Bank departments) and able to influence and lead others in implementing those changes.Must have experience and desire to identify "best practices", create/improve procedures, policies, and practices for the betterment of the Bank.Must have experience, proven ability, and a sense of urgency to identify and implement automation through technology, that results in efficiencies and/or measurable cost savings.OTHER DETAILS$210K - $235K / year. Pay determined based on job-related knowledge, skills, experience, and location.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 believe in diversity, equity, and inclusion in the workplace. 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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