SVP, Chief Compliance Officer

Cathay Bank•El Monte, CA

4d•Onsite

About The Position

Cathay Bank is seeking an accomplished, strategic banking executive to serve as its Senior Vice President, Chief Compliance Officer (CCO). This executive will lead the design, implementation, governance, and continuous enhancement of the Bank’s enterprise-wide Compliance Management System (CMS), serving as the primary leader for regulatory compliance risk. The CCO is accountable for ensuring the Bank operates in compliance with applicable federal, state, and local laws, regulations, supervisory guidance, and industry standards. The role provides independent second-line oversight across all lines of business and ensures compliance risk is effectively identified, measured, monitored, managed, and reported. Key areas of oversight include consumer protection, fair lending, the Community Reinvestment Act (CRA), privacy, regulatory change management, compliance monitoring and testing, and compliance training. The CCO regularly engages with executive management, regulators, and the Board of Directors, providing independent assessments of the Bank’s compliance risk profile and the effectiveness of compliance controls.

Requirements

Bachelor’s degree required, or equivalent combination of education and relevant experience.
Minimum 10–15+ years of progressive banking compliance experience.
7–10+ years managing compliance teams.
Experience as Compliance Manager, Director of Compliance, Deputy CCO, or CCO.
Experience at FDIC, OCC, Federal Reserve, or CFPB regulated institutions.
Knowledgeable in bank services, operations, policies, and procedures.
Deep expertise in U.S. banking laws and regulations.
Strong understanding of Compliance Management Systems and regulatory expectations.
Comprehensive knowledge of CRA, Fair Lending, Privacy, and Consumer Compliance requirements.
Demonstrated ability to influence senior executives and Board members.
Exceptional communication and presentation skills.
Proven leadership and talent development capabilities.
Strong analytical, strategic, and risk management skills.
Ability to balance regulatory requirements with business objectives while maintaining independent oversight.

Nice To Haves

Advanced degree such as a J.D. or MBA, CRCM, or other compliance-related certification strongly preferred.
Experience in international environments, plus.

Responsibilities

Lead and maintain an enterprise-wide Compliance Management System (CMS) aligned with the Bank’s size, complexity, and strategic objectives.
Establish and execute the annual Compliance Risk Management Plan, and develop risk-based compliance strategies, priorities, and oversight programs.
Lead and develop the Compliance Department, with oversight of Deposit Compliance, Fair Lending and Credit Compliance, Non-Traditional Banking Products Compliance, Monitoring and Testing, Training, Privacy, and Vendor Compliance Due Diligence (new and annual reviews).
Administer and maintain the CMS, including the development and implementation of appropriate policies, standards, and procedures.
Assess the Bank’s compliance risk exposure and provide ongoing reporting to Senior Management and the Board on the level, direction, significant issues, and emerging trends of compliance risk.
Provide oversight and subject matter expertise on applicable regulatory requirements, including federal, state, and local laws governing Consumer and Retail Banking, Deposit and Operations, Lending and Commercial Banking, Safety and Soundness, the Community Reinvestment Act (CRA), and Privacy.
Participate in regulatory change management by monitoring regulatory developments, supporting impact assessments, providing compliance guidance on policy and procedure updates, and assisting in keeping Executive Management and the Board informed of significant regulatory changes.
Oversee a risk-based compliance monitoring and testing program, including transactional testing, control reviews, thematic reviews, and compliance assessments.
Evaluate the effectiveness of first-line controls; ensure findings are documented, tracked, remediated, and validated; monitor corrective action plans; and develop meaningful compliance metrics and reporting.
Foster a proactive culture of compliance and ethical conduct throughout the organization.
Provide advisory support and effective challenge to business leaders regarding regulatory obligations and compliance risks; identify emerging compliance risks; adjust compliance strategies as needed; and promote early detection and efficient mitigation of compliance risk issues.
Provide regular reporting to Executive Management, Risk Committees, and the Board of Directors.
Present compliance risk assessments, emerging issues, examination results, compliance metrics, and regulatory developments; promptly escalate significant compliance risks and violations; and support Board oversight of compliance risk management.