Operational Risk Analyst II/III

Navy Federal Credit Union

4.8

(226)

Pensacola, FL

Why you should apply for a job to Navy Federal Credit Union:

  • Ranked as one of the Best Companies for Women in 2023
  • 4.8/5 in overall job satisfaction
  • 4.8/5 in supportive management
  • 96% say women are treated fairly and equally to men
  • 96% would recommend this company to other women
  • 96% say the CEO supports gender diversity
  • Ratings are based on anonymous reviews by Fairygodboss members.
  • Professional development and training opportunities to help employees grow in their careers and the life they want to lead
  • Best-in-class benefits with generous vacation, paid maternity/paternity leave, retirement plans, tuition reimbursement, discounts and more
  • Unique culture where team members are passionate about the mission which creates clarity, alignment and purpose
  • #16442-OTHLOC-300000025810540

    Position summary

    nts. 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.

    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 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 procedures

    • Make recommendations for additional controls and corrective action 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

    • Analyze Internal and External Audit reports and recommend enhancements to the risk assessment process

    • 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

    • Research escalated issues; determine or collaborate with team on the resolution

    • Serves as coach/mentor to lower level staff

    • Maintain clear and organized 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

    • Stay abreast of industry and regulatory related news and developments

    • Perform other duties as assigned

    Qualifications

    Level II

    • Advanced knowledge and understanding of risk-based auditing techniques and methodologies

    • Working knowledge of applicable federal and state regulations, company policies, and industry best practices

    • Advanced knowledge of operational and regulatory risk controls concepts and practices

    • Proven ability to plan, organize and effectively execute risk mitigation and process improvement initiatives

    • Proven ability to influence management decision making

    • Working 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

    • 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

    • Advanced project management skills

    • Advanced organizational, planning and time management skills

    • Advanced research and analytical skills

    • Advanced communication and negotiation skills

    • Advanced skill maintaining accuracy with attention to detail and meeting deadlines

    • Advanced communication and negotiation skills with ability to exercise good judgement and tact in dealing with Navy Federal senior management

    • Advanced skill at working with and communicating with all with all levels of employees and management within and outside the organization

    • Advanced customer service focus and relationship management skills

    • Advanced 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

    • Master's Degree in related field or equivalent combination of training, education and experience

    • 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

    Level III

    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

    • Master's Degree in related field or equivalent combination of training, education and experience

    • 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

    • 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

    • Master's Degree in related field or equivalent combination of training, education and experience

    • 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

    Hours: Monday - Friday, 8:00AM - 4:30PM

    Locations: 820 Follin Lane, 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.

    Why you should apply for a job to Navy Federal Credit Union:

  • Ranked as one of the Best Companies for Women in 2023
  • 4.8/5 in overall job satisfaction
  • 4.8/5 in supportive management
  • 96% say women are treated fairly and equally to men
  • 96% would recommend this company to other women
  • 96% say the CEO supports gender diversity
  • Ratings are based on anonymous reviews by Fairygodboss members.
  • Professional development and training opportunities to help employees grow in their careers and the life they want to lead
  • Best-in-class benefits with generous vacation, paid maternity/paternity leave, retirement plans, tuition reimbursement, discounts and more
  • Unique culture where team members are passionate about the mission which creates clarity, alignment and purpose