Operational Risk Analyst III
Company: Navy Federal Credit Union
Location: Winchester
Posted on: May 1, 2024
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Job Description:
OverviewTo 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.ResponsibilitiesPlan the research for and development of
specialized risk assessment scopesCollaborate with management and
personnel to optimize risk assessment scope developmentIdentify
potential business risks, operational and regulatory process
deficiencies and improvement opportunitiesGather and synthesize
data; present conclusions and offer risk mitigation, remediation
and process improvement solutions to managementLead/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
proceduresDevelop, lead and oversee efforts to improve the
efficiency and effectiveness of operations and risk mitigation
processesPrepare and present to management and/or affected business
unit summaries, operational and regulatory risk assessment reports,
trending, and remedial or mitigation solutionsMaintain 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
proceduresManage, monitor and report on internal and external audit
activitiesPartner 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 structuresEscalate to
management and assist in determining corrective action for material
breaches of applicable laws, rules, policies or standards with
actual or potential impactServes as coach/mentor to lower level
staffServe as subject matter expert regarding operational risk
protocols, methodologies and effective control solutionsOversee the
record retention of risk assessment documentation, including, data,
scope, status, results, reports, corrective actions, and completion
dateIdentify training opportunities and assist in the development
of lower level staffDevelop and help administer optimal data
testing and sampling strategies to ensure the most effective risk
detection, analyses and control solutionsDevelops new and updates
Operational Risk policies and proceduresServe as a resource for and
interpret federal, state, NCUA, and other regulations and
guidelines that impact the business unit operationsAnalyzes the
impact of changes to federal and state regulations and makes
recommendations for changes to policies, procedures and practices
to ensure complianceServe as primary point of contact and subject
matter expert in meetings, committees, and major projects related
to the development and improvement of processes and controlsMake
presentations to management and staff on industry and regulatory
related news and developmentsServe as Supervisor in the incumbent's
absencePerform other duties as assignedQualificationsAdvanced
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
effectivenessExpert knowledge and understanding of risk-based
auditing techniques and methodologiesAdvanced knowledge of
applicable federal and state regulations, company policies, and
industry best practicesSignificant experience managing
multi-faceted projects simultaneously that have cross-departmental
impactExpert knowledge of operational and regulatory risk control
concepts and practicesProven ability to plan, organize and
effectively execute risk mitigation and process improvement
initiativesProven ability to influence management decision
makingAdvanced knowledge of products, services, processes,
requirements, and systems related to the business unitAbility to
comprehend, analyze, interpret, communicate and apply government
and financial industry regulations related principles and
practices, and company instructions, procedures and policiesAbility
to work independently and in a team environmentSignificant
experience in collaborating across organizational boundaries and
building partnerships across various functionsSignificant
experience in managing multiple priorities independently and/or in
a team environment to achieve goalsExpert organizational, planning
and time management skillsExpert research and analytical
skillsExpert communication and negotiation skillsExpert skill
maintaining accuracy with attention to detail and meeting
deadlinesExpert communication and negotiation skills with ability
to exercise good judgement and tact in dealing with Navy Federal
senior managementExpert customer service focus and relationship
management skillsExpert skill using innovative thinking to solve
problems and facilitate the decision-making processAdvanced word
processing and spreadsheet software skillsAdvanced presentation
software skillsBachelor's Degree in Business Administration,
Auditing, or related field or equivalent combination of training,
education and experienceDesired QualificationsAdvanced knowledge of
operational and regulatory risk controls, concepts and
practicesWorking knowledge of Navy Federal's functions, philosophy,
operations and organizational objectivesAdvanced knowledge of state
and Federal laws; industry regulations, principles, and practices;
and company policies that govern the business unit's
products/servicesNCCO, CRCM, or other applicable compliance
certificationMaster's Degree in related field or equivalent
combination of training, education and experienceHours: Monday -
Friday, 8:00AM - 4:30PM ESTLocations: 820 Follin Lane. Vienna,
Virginia 22180 - 5550 Heritage Oaks Drive. Pensacola, FL 32526 -
141 Security Drive Winchester, VA 22602About UsYou have goals,
dreams, hobbies, and things you're passionate aboutwhat'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 themfriends, family, and passions. And we're looking for team
members who are passionate about our missionmaking 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 ServicesEqual 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/DisabilityDisclaimers: 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 teams
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 positionBank Secrecy
Act: Remains cognizant of and adheres to Navy Federal policies and
procedures, and regulations pertaining to the Bank Secrecy Act.by
Jobble
Keywords: Navy Federal Credit Union, Silver Spring , Operational Risk Analyst III, Professions , Winchester, Maryland
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