Operational Risk Analyst III (Controls and Governance)

Company: Navy Federal Credit Union
Location: Vienna
Posted on: May 3, 2024

Job Description:

OverviewThe Lending Analytics Model Governance Operational Risk Analyst supports Navy Federal Credit Union's (NFCU's) Quantitative Modeling team in effectively managing the 1st Line of Defense internal control environment. In collaboration with business process owners, the Analyst role proactively builds and maintains risk and control matrices to identify, assess, monitor, update and report out operational control monitoring results. This role includes effective partnerships with risk partners and process owners within Quantitative Modeling and throughout the enterprise's three lines of defense. The Analyst will also partner with business process owners on Control Testing and Issue and Event Management results and efforts.ResponsibilitiesPartner with stakeholders, including process owners and control officers, to document processes (via process flows), risks and controls, enhance control language, and validate that controls are being performed in compliance with the system of controls, relevant policies, standards, procedures, and other requirements to mitigate operational risks to our modeling effortsSupport the execution of front line controls, self-assurance, and risk assessment activities such as controls reviews, business process management analysis, RCSAs, independent risk assessment, and audit activities as directedSupport the Model Risk Management (MRM) team's validation efforts and satisfy their reporting requirements for inventories, issues management, and performance.Provide ongoing assessment of Quantative Modeling's risk and controls profile through regular monitoring and status reporting of risks, issues, events and initiatives within core processesSupport iterative MRM validation and challenge efforts, working with appropriate stakeholders across the lines of defensePerform and facilitate the collection, review and assimilation of RCSA assessment data and reporting into concise and meaningful reportsAssess exposure to risk, measure operational risk against ERM frameworks, assist in establishing policies and procedures to minimize risk, identify ways to protect the organization risks arising from operationsCoordinate efforts with Lending Operational Risk functions to maintain control effectiveness and residual risk ratingsSupport implementation for change management needs related to controls with appropriate personnel within the team and/or across team linesMaintain procedures, templates, guides, training material, and model risk policies for the internal controls systemMonitor and oversee the progress of risk assessments, model validations, controls monitoring; respond to and support remediation efforts for findings or issuesAssist with operational risk event remediation efforts when neededServe as a subject matter expert with internal and external auditors (e.g., MRM, NCUA, CFPB, and contracted third parties) to address and resolve audit questions and findings relative to core process risk and controls managementPerform the testing of control design and the testing of control effectivenessIdentify areas of improvement in existing process, methodology, and policies. Identify gaps and recommend enhancements.Drive adoption and enforce best practices in report, templates, methodologies, and tools with the business process owners and team membersCoordinate required meetings, reviews and scheduling needsPerform other duties as assignedQualificationsBachelor's degree in Economics, Mathematics, Computer Science, Statistics, Accounting, Auditing, Law or related field or equivalent combination of training, education and experienceWorking knowledge and understanding of risk-based auditing techniques and methodologiesWorking knowledge of operational risk and controls, internal controls concepts and practices and/or specific model risk frameworksProven experience working within cross-functional, multi-dimensional teams and projects of complexity which have significant business risk and impactProven ability to plan, organize and effectively execute risk mitigation and process improvement initiativesAdvanced organizational, planning and time management skills in order to effectively manage competing priorities in a fast paced and dynamic environmentAbility 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 environmentEffective analytical and complex thinking skills to include summarizing information and clearly identifying key elements, patterns, results and relationshipsAdvanced skill building effective relationships through rapport, trust, diplomacy, and tactAdvanced skill to influence, negotiate, persuade, and build consensus to reach agreeable exchange & positive outcomes with business partnersExtensive experience in working with all levels of staff, management, stakeholders, vendorsDesired QualificationsWorking knowledge of Navy Federal's products, services, programs, policies and proceduresCPA, CIA, CFA, CRCM, PMP, NCCO, NCRM, CRMAAdvanced knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business unit's products/servicesHours: Monday - Friday, 8:00AM - 4:30PMLocation: 820 Follin Ln, Vienna, VA Heritage Oaks Dr, Pensacola, FL 32526About 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.

Keywords: Navy Federal Credit Union, Columbia , Operational Risk Analyst III (Controls and Governance), Professions , Vienna, Maryland