Summer Associate Internship (Process Improvement Associate – Digital Payments Business Optimization)

Overview

Process Improvement Associate – DP Business Optimization/QA (2024)

Within Navy Federal, the Savings & Membership Department (SMD) drives the identification of new and innovative ways to inspire and enable a better financial future for our members by focusing on their Lifetime Journey, Money Management, and Money Movement. Digital Payments is a division of the Savings & Membership Department. Our vision is to provide personalized, scalable, and secure Money Movement experiences that enable Navy Federal to continuously exceed members' evolving payment expectations. To achieve this, we will:  

• Create integrated payment experiences, improving the speed and transparency of members' money movement.
• Enable payment innovation by both working across the organization and forming strategic (third-party) partnerships; ensuring Navy Federal remains top-of-wallet and top-of-mind for members' payment needs.   
• Take an incremental approach to delivering capabilities and value, allowing us to learn and adapt based on members' evolving needs

This role will be a member of the Digital Payments group - a diverse group of strategy, operations, and business optimization professionals looking to enable and support members' money movement needs. The team has a wealth of expertise in payment strategy definition, product & operational management, business intelligence, and quality assurance. We represent Navy Federal’s non-card payments strategies to offer world-class payment experience and support executive leadership in the execution of the strategic direction and roadmap.

The Summer Associate will work in a flexible hybrid manner and report to leadership at our Vienna, VA campus. The Summer Associate will support the modernization of payments operations with a focus on operational efficiencies, policy compliance, and automation opportunities involving ACH, Zelle, wires, and cashier’s check operations. Potential projects include: 

• Analysis of current operational quality assurance (QA) program standards and practice
• Conduct an assessment of business practice in alignment with Digital Payments strategy, regulatory requirements, and risk mitigation
• Perform information gathering, end-to-end process, control and testing documentation, and QA assessment reports in order to develop appropriate QA program
• Coordinate with Subject Matter Experts to develop quality assurance methodology, findings, and measurements 

The Summer Associate Program is a 12-week internship program beginning in May 2024 and ending in August 2024. Students will work on impactful projects and meaningful work during their internship. To qualify for this position, applicants must be currently pursuing a degree from an accredited college or university and have an anticipated graduation date of December 2024 or later.

Responsibilities

Analyze and measure the effectiveness of the operations QA program to achieve quality standards, controls, and risk mitigation of multi-faceted business processes and systems. Research internal processes and capabilities to enhance the effectiveness of the program. Perform highly complex process improvement functions under limited supervision.

• Examine end-to-end business processes to improve efficiency and operations
• Collaborate with functional areas to develop and maintain performance metrics, measurements, methods, and targets
• Obtain and analyze quantitative and qualitative data of business processes to determine solutions and promote data-driven decisions
• Research and evaluate opportunities related QA program
• Coordinate with related departments and functions to ensure appropriate information flow and understanding of overall program improvement direction
• Analyze processes and workflows to understand value chain, input/output, to improve QA performance and risk mitigation
• Anticipate internal and/or external business influences including regulatory; recommend process and documentation of operational performances
• Analyze, define, and document technical design for data, workflow, logical processes, hardware and operating systems environment, interface with other systems, internal and external controls, and output

Qualifications

• Currently pursuing an undergraduate degree in related field
• Experience with research, analysis, and data manipulation
• Good communication and presentation skills
• Ability to work independently and think outside of the box
• Strong critical, and analytical thinking skills
• Basic knowledge of financial services/payments a plus

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

Location: Remote | 820 Follin Lane, Vienna, VA 22180 | 

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.