Operational Risk Analyst III (Controls and Governance)
Company: Navy Federal Credit Union
Location: Vienna
Posted on: May 3, 2024
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Job Description:
Overview The Lending Analytics Model Governance Operational Risk
Analyst supports Navy Federal Credit Union's (NFCU's) Quantitative
Modeling team in effectively managing the 1st Line of Defense
internal control environment. In collaboration with business
process owners, the Analyst role proactively builds and maintains
risk and control matrices to identify, assess, monitor, update and
report out operational control monitoring results. This role
includes effective partnerships with risk partners and process
owners within Quantitative Modeling and throughout the enterprise's
three lines of defense. The Analyst will also partner with business
process owners on Control Testing and Issue and Event Management
results and efforts. Responsibilities Partner with stakeholders,
including process owners and control officers, to document
processes (via process flows), risks and controls, enhance control
language, and validate that controls are being performed in
compliance with the system of controls, relevant policies,
standards, procedures, and other requirements to mitigate
operational risks to our modeling efforts
Support the execution of front line controls, self-assurance, and
risk assessment activities such as controls reviews, business
process management analysis, RCSAs, independent risk assessment,
and audit activities as directed
Support the Model Risk Management (MRM) team's validation efforts
and satisfy their reporting requirements for inventories, issues
management, and performance.
Provide ongoing assessment of Quantative Modeling's risk and
controls profile through regular monitoring and status reporting of
risks, issues, events and initiatives within core processes
Support iterative MRM validation and challenge efforts, working
with appropriate stakeholders across the lines of defense
Perform and facilitate the collection, review and assimilation of
RCSA assessment data and reporting into concise and meaningful
reports
Assess exposure to risk, measure operational risk against ERM
frameworks, assist in establishing policies and procedures to
minimize risk, identify ways to protect the organization risks
arising from operations
Coordinate efforts with Lending Operational Risk functions to
maintain control effectiveness and residual risk ratings
Support implementation for change management needs related to
controls with appropriate personnel within the team and/or across
team lines
Maintain procedures, templates, guides, training material, and
model risk policies for the internal controls system
Monitor and oversee the progress of risk assessments, model
validations, controls monitoring; respond to and support
remediation efforts for findings or issues
Assist with operational risk event remediation efforts when
needed
Serve as a subject matter expert with internal and external
auditors (e.g., MRM, NCUA, CFPB, and contracted third parties) to
address and resolve audit questions and findings relative to core
process risk and controls management
Perform the testing of control design and the testing of control
effectiveness
Identify areas of improvement in existing process, methodology, and
policies. Identify gaps and recommend enhancements.
Drive adoption and enforce best practices in report, templates,
methodologies, and tools with the business process owners and team
members
Coordinate required meetings, reviews and scheduling needs
Perform other duties as assigned Qualifications Bachelor's degree
in Economics, Mathematics, Computer Science, Statistics,
Accounting, Auditing, Law or related field or equivalent
combination of training, education and experience
Working knowledge and understanding of risk-based auditing
techniques and methodologies
Working knowledge of operational risk and controls, internal
controls concepts and practices and/or specific model risk
frameworks
Proven experience working within cross-functional,
multi-dimensional teams and projects of complexity which have
significant business risk and impact
Proven ability to plan, organize and effectively execute risk
mitigation and process improvement initiatives
Advanced organizational, planning and time management skills in
order to effectively manage competing priorities in a fast paced
and dynamic environment
Ability to comprehend, analyze, interpret, communicate and apply
government and financial industry regulations related principles
and practices, and company instructions, procedures and
policies
Ability to work independently and in a team environment
Effective analytical and complex thinking skills to include
summarizing information and clearly identifying key elements,
patterns, results and relationships
Advanced skill building effective relationships through rapport,
trust, diplomacy, and tact
Advanced skill to influence, negotiate, persuade, and build
consensus to reach agreeable exchange & positive outcomes with
business partners
Extensive experience in working with all levels of staff,
management, stakeholders, vendors Desired Qualifications Working
knowledge of Navy Federal's products, services, programs, policies
and procedures
CPA, CIA, CFA, CRCM, PMP, NCCO, NCRM, CRMA
Advanced knowledge of state and Federal laws; industry regulations,
principles, and practices; and company policies that govern the
business unit's products/services Hours: Monday - Friday, 8:00AM -
4:30PM Location: 820 Follin Ln, Vienna, VA 22180 - 5550 Heritage
Oaks Dr, Pensacola, FL 32526 About Us You have goals, dreams,
hobbies, and things you're passionate about-what's important to you
is important to us. We're looking for people who not only want to
do meaningful, challenging work, keep their skills sharp and move
ahead, but who also take time for the things that matter to
them-friends, family, and passions. And we're looking for team
members who are passionate about our mission-making a difference in
military members' and their families' lives. Together, we can make
it happen. Don't take our word for it: --- Military Times 2022 Best
for Vets Employers --- WayUp Top 100 Internship Programs ---
Forbes® 2022 The Best Employers for New Grads --- Fortune Best
Workplaces for Women --- Fortune 100 Best Companies to Work For®---
Computerworld® Best Places to Work in IT --- Ripplematch Campus
Forward Award - Excellence in Early Career Hiring --- Fortune Best
Place to Work for Financial and Insurance Services Equal Employment
Opportunity: Navy Federal values, celebrates, and enacts diversity
in the workplace. Navy Federal takes affirmative action to employ
and advance in employment qualified individuals with disabilities,
disabled veterans, Armed Forces service medal veterans, recently
separated veterans, and other protected veterans.
EOE/AA/M/F/Veteran/Disability EOE/AA/M/F/Veteran/Disability
Disclaimers: Navy Federal reserves the right to fill this role at a
higher/lower grade level based on business need. An assessment may
be required to compete for this position. Job postings are subject
to close early or extend out longer than the anticipated closing
date at the hiring team's discretion based on qualified applicant
volume. Navy Federal Credit Union assesses market data to establish
salary ranges that enable us to remain competitive. You are paid
within the salary range, based on your experience, location and
market position Bank Secrecy Act: Remains cognizant of and adheres
to Navy Federal policies and procedures, and regulations pertaining
to the Bank Secrecy Act.
Keywords: Navy Federal Credit Union, Washington DC , Operational Risk Analyst III (Controls and Governance), Professions , Vienna, DC
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