Operational Risk Analyst III
Company: Navy Federal Credit Union
Location: Vienna
Posted on: May 3, 2024
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Job Description:
Overview To review, analyze, and report on Navy Federal's risk,
quality, service, and controls, to improve operational efficiency
and effectiveness, mitigate risk and remediate operational and
regulatory vulnerabilities. Develop, lead and approve risk
assessment projects to assess compliance with federal and state
regulatory requirements, industry standards, and Navy Federal
operating procedures. Maintain and update Operational Risk
procedural manuals, job aides, and tools. Develop and assist in
overseeing the most complex and highly specialized risk assessment
scopes. Perform and validate in depth and comprehensive gap
analyses to determine the root cause of process gaps and regulatory
compliance failures. Serve as liaison with Internal Audit and
Regulatory Compliance to ensure adherence with Enterprise and
Compliance Risk Management requirements. Serve as the Operational
Risk point of contact for external examination preparation and ad
hoc projects. Administer and oversee the compliance monitoring
platform and data entry to ensure adherence with regulatory
government agencies requirements. Monitor lower level Analysts'
corrective action target dates and oversee implementation of
corrective actions to ensure prompt remediation and control
implementation in coordination with internal/external audit
examinations. Lead and assist in leading complex/difficult tasks of
significant impact and latitude requiring advanced analysis.
Responsibilities Plan the research for and development of
specialized risk assessment scopes
Collaborate with management and personnel to optimize risk
assessment scope development
Identify potential business risks, operational and regulatory
process deficiencies and improvement opportunities
Gather and synthesize data; present conclusions and offer risk
mitigation, remediation and process improvement solutions to
management
Lead/conduct and assists provide expertise in with the
administration of specialized risk assessment and testing
lifecycles of business activities, processes, policies and
procedures for operational effectiveness and compliance with
regulatory requirements, federal and state laws, and Navy Federal's
quality control standards, policies and procedures
Develop, lead and oversee efforts to improve the efficiency and
effectiveness of operations and risk mitigation processes
Prepare and present to management and/or affected business unit
summaries, operational and regulatory risk assessment reports,
trending, and remedial or mitigation solutions
Maintain effective communication with other business units and
support teams to remediate errors and assist with implementation of
corrective actions related to non-compliance with policies and
procedures
Manage, monitor and report on internal and external audit
activities
Partner and maintain effective working relationships with
management to evaluate the progress of risk assessments and key
issues raised during the review process and to facilitate the
overall improvement of internal control structures
Escalate to management and assist in determining corrective action
for material breaches of applicable laws, rules, policies or
standards with actual or potential impact
Serves as coach/mentor to lower level staff
Serve as subject matter expert regarding operational risk
protocols, methodologies and effective control solutions
Oversee the record retention of risk assessment documentation,
including, data, scope, status, results, reports, corrective
actions, and completion date
Identify training opportunities and assist in the development of
lower level staff
Develop and help administer optimal data testing and sampling
strategies to ensure the most effective risk detection, analyses
and control solutions
Develops new and updates Operational Risk policies and
procedures
Serve as a resource for and interpret federal, state, NCUA, and
other regulations and guidelines that impact the business unit
operations
Analyzes the impact of changes to federal and state regulations and
makes recommendations for changes to policies, procedures and
practices to ensure compliance
Serve as primary point of contact and subject matter expert in
meetings, committees, and major projects related to the development
and improvement of processes and controls
Make presentations to management and staff on industry and
regulatory related news and developments
Serve as Supervisor in the incumbent's absence
Perform other duties as assigned Qualifications Advanced experience
with risk and control self-assessment, control testing, Issues and
events and risk framework required to review, analyze, and report
on Navy Federal's risks, issues, events and control
effectiveness
Expert knowledge and understanding of risk-based auditing
techniques and methodologies
Advanced knowledge of applicable federal and state regulations,
company policies, and industry best practices
Significant experience managing multi-faceted projects
simultaneously that have cross-departmental impact
Expert knowledge of operational and regulatory risk control
concepts and practices
Proven ability to plan, organize and effectively execute risk
mitigation and process improvement initiatives
Proven ability to influence management decision making
Advanced knowledge of products, services, processes, requirements,
and systems related to the business unit
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
Significant experience in collaborating across organizational
boundaries and building partnerships across various functions
Significant experience in managing multiple priorities
independently and/or in a team environment to achieve goals
Expert organizational, planning and time management skills
Expert research and analytical skills
Expert communication and negotiation skills
Expert skill maintaining accuracy with attention to detail and
meeting deadlines
Expert communication and negotiation skills with ability to
exercise good judgement and tact in dealing with Navy Federal
senior management
Expert customer service focus and relationship management
skills
Expert skill using innovative thinking to solve problems and
facilitate the decision-making process
Advanced word processing and spreadsheet software skills
Advanced presentation software skills
Bachelor's Degree in Business Administration, Auditing, or related
field or equivalent combination of training, education and
experience Desired Qualifications Advanced knowledge of operational
and regulatory risk controls, concepts and practices
Working knowledge of Navy Federal's functions, philosophy,
operations and organizational objectives
Advanced knowledge of state and Federal laws; industry regulations,
principles, and practices; and company policies that govern the
business unit's products/services
NCCO, CRCM, or other applicable compliance certification
Master's Degree in related field or equivalent combination of
training, education and experience Hours: Monday - Friday, 8:00AM -
4:30PM EST Locations: 820 Follin Lane. Vienna, Virginia 22180 -
5550 Heritage Oaks Drive. Pensacola, FL 32526 - 141 Security Drive
Winchester, VA 22602 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, Professions , Vienna, DC
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