About Cathay Bank
More than half a century ago, we opened our doors at Cathay Bank to serve the growing Chinese American community in Los Angeles. We helped our customers put down new roots with cars and homes, and we supported their businesses, which continue to sustain generations. We remain committed to enriching the journeys of our customers and the diverse communities we serve.
Over time, we’ve expanded along with our customers. Today, we’re a subsidiary of Cathay General Bancorp (NASDAQ: CATY), a publicly held bank holding company. We operate in nine states across the United States, including California, New York, Illinois, Washington, Texas, Maryland, Massachusetts, Nevada, and New Jersey, and we have outposts in Hong Kong, Beijing, Shanghai and Taipei. Forbes named us the #10 Best Bank in America in 2019.
Along with our extensive experience and innovative thinking, we bring an open mind to every interaction and a willingness to work with customers and communities in ways that best suit their needs. Our lines of business include personal banking, home mortgages, business banking, corporate
lending, cash management, SBA loan programs, community lending, international banking, foreign exchange, and wealth management.
Are you passionate about a potential career in the financial services industry? Cathay Bank is excited about what’s to come for our company and customers. Our employees are the reason our customers can get where they want to go and aspire to what’s next.
If you bring your best self to work, see opportunities instead of obstacles, and always want to advance in your career, then Cathay Bank may be a great fit for you. We’re excited to offer our employees opportunities to grow and develop in their career journey. We also provide the resources, support and freedom so that employees can best deliver an extraordinary customer experience.
Join Cathay Bank—and be energized by what’s possible for your career!
The AVP, SBA Closing Officer’s primary responsibility is to ensure compliance with SBA requirements, as well as, recognize and proactively resolve problems in the closing process to ensure accuracy and completion of all necessary loan documents. In this role you will work closely with the Closing Manager, attorneys, and other third-parties throughout the closing process to ensure the completeness and accuracy of all information.
1. Prepares closing checklists and works directly with borrowers to collect required documents.
2. Communicates regularly with borrowers to answer questions and ensure understanding of loan process.
3. Reviews all documentation collected to ensure all loan requirements are met prior to closing.
4. Reviews and approves settlement statements prior to loan closing.
5. Reviews and documents borrower’s equity requirements.
6. Prepares SBA 7a and GP loan package, obtains SBA approval through ETRAN and prepares SBA 7a authorization to meet bank loan approval requirements.
7. Funds loan draws in accordance with the SBA and bank required documentation.
8. Issues cashier checks to pay all necessary loan related fees and costs.
9. Generates monthly production reports and prepares the G/L and SBA Bank Control Account Certifications.
10. Tracks loan referrals within the Bank and prepares loan broker referral fee after loan closing with loans involving loan brokers.
11. Images loan files after closing and ensures all post funding docs are in appropriate files.
12. Assists manager with testing of system processing and release, documenting and update procedures, and researches complex customer problems and inquiries. Assists manager with eligibility approval process
Education: College degree in accounting, finance, or business preferred
Experience: Minimum 6-7 years independently closing and packaging SBA 7(a) and 504
Skills/Ability: PC proficient and detail oriented. Working knowledge of the most current version of the SBA Standard Operating Procedures. Strong verbal and written communication skills. Bilingual (English/ Mandarin or Cantonese) is a plus.
Cathay Bank is an equal opportunity employer. It is the Bank’s policy to provide equal employment opportunities to all qualified applicants. Qualified applicants will be considered for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin or any other classification protected by applicable federal, state or local non-discrimination law.