Operational Risk Analyst II
Company: Navy Federal Credit Union
Location: Vienna
Posted on: April 22, 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 and lead 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 complex and highly
specialized risk assessment scopes. Perform in depth and
comprehensive gap analyses to determine the root cause of process
gaps and regulatory compliance failures. Assign corrective action
target dates and ensure timely control implementation. Monitor
corrective action target dates to ensure prompt remediation and
control implementation to comply with regulatory government
agencies requirements. Maintain data in the compliance monitoring
platform to ensure adherence with regulatory government agencies
requirements. Assist in leading complex/difficult tasks of moderate
to considerable impact and latitude requiring moderate
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
provide expertise 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
proceduresMake recommendations for additional controls and
corrective action 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 proceduresAnalyze Internal and External Audit
reports and recommend enhancements to the risk assessment
processPartner 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 structuresResearch
escalated issues; determine or collaborate with team on the
resolutionServes as coach/mentor to lower level staffMaintain clear
and organized 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 controlsStay
abreast of industry and regulatory related news and
developmentsPerform other duties as assignedQualificationsAdvanced
knowledge and understanding of risk-based auditing techniques and
methodologiesWorking knowledge of applicable federal and state
regulations, company policies, and industry best practicesAdvanced
knowledge of operational and regulatory risk controls concepts and
practicesProven ability to plan, organize and effectively execute
risk mitigation and process improvement initiativesProven ability
to influence management decision makingWorking 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
environmentExperience 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 goalsAdvanced
project management skillsAdvanced organizational, planning and time
management skillsAdvanced research and analytical skillsAdvanced
communication and negotiation skillsAdvanced skill maintaining
accuracy with attention to detail and meeting deadlinesAdvanced
communication and negotiation skills with ability to exercise good
judgement and tact in dealing with Navy Federal senior
managementAdvanced skill at working with and communicating with all
with all levels of employees and management within and outside the
organizationAdvanced customer service focus and relationship
management skillsAdvanced 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 QualificationsMaster's Degree in
related field or equivalent combination of training, education and
experienceAdvanced 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 certificationHours: Monday - Friday, 8:00AM -
4:30PMLocations: 820 Follin Lane, Vienna, VA 22180 - 5550 Heritage
Oaks Drive Pensacola, FL 32526 - 141 Security Drive Winchester, VA
22602This position is eligible for the TalentQuest employee
referral program. If an employee referred you for this job, please
apply using the system-generated link that was sent to you.About
UsYou 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 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 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 positionBank Secrecy
Act: Remains cognizant of and adheres to Navy Federal policies and
procedures, and regulations pertaining to the Bank Secrecy
Act.%1769146% %%finance%%
Keywords: Navy Federal Credit Union, Annandale , Operational Risk Analyst II, Professions , Vienna, Virginia
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