Operational Risk Analyst II (HMDA)
Company: Navy Federal Credit Union
Location: Vienna
Posted on: May 3, 2024
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Job Description:
OverviewTo review, analyze, and report on Navy Federal's
mortgage application data to ensure the accuracy of HMDA submission
data, to improve operational efficiency and effectiveness, mitigate
risk and remediate operational and regulatory vulnerabilities.
Develop and lead HMDA risk assessment projects to assess compliance
with federal and state regulatory requirements, industry standards,
and Navy Federal operating procedures. Maintain and update HMDA
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.This 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.ResponsibilitiesResponsible for being knowledgeable and up to
date on banking laws and regulations as well as NFCU policies and
procedures pertaining to HMDA.Review accuracy of the data collected
and required to be reported on mortgage loans originated.Review
accuracy of the data collected and required to be reported on
mortgage applications that did not originate (denials, withdrawals,
approved not accepted applicationsData entry of HMDA data into RATA
softwarePlan the research for and development of specialized risk
assessment scopesCollaborate with management and personnel to
optimize HMDA data collection and reportingIdentify 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 HMDA 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 HMDA 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
assignedQualificationsBachelor's Degree in Business Administration,
Auditing, or related field or equivalent combination of training,
education and experienceStrong knowledge of HMDA related rules and
regulations with a strong ability to apply regulatory changes to
loan operations, as needed.Recent mortgage professional experience
(minimum 3-5 years) with a proficiency in the areas of
underwriting, closing or compliance experience may be
substituted.Knowledgeable and up to date on banking laws and
regulations pertaining to HMDA.Highly proficient with LOS systems
such as EmpowerAdvanced project management skillsAdvanced knowledge
of operational and regulatory risk controls concepts and
practicesProven ability to plan, organize and effectively execute
risk mitigation and process improvement initiativesAdvanced
organizational, planning and time management skillsAdvanced
research and analytical skillsAdvanced communication and
negotiation skillsProven ability to influence management decision
makingAdvanced skill maintaining accuracy with attention to detail
and meeting deadlinesWorking 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
environmentAdvanced 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 organizationExperience in collaborating
across organizational boundaries and building partnerships across
various functionsAdvanced customer service focus and relationship
management skillsSignificant experience in managing multiple
priorities independently and/or in a team environment to achieve
goalsAdvanced skill using innovative thinking to solve problems and
facilitate the decision-making processAdvanced word processing and
spreadsheet software skillsAdvanced presentation software
skillsDesired QualificationsAdvanced knowledge of operational and
regulatory risk controls, concepts, and practicesMaster's Degree in
related field or equivalent combination of training, education and
experienceNCCO, CRCM, or other applicable compliance
certificationAdvanced knowledge of state and Federal laws; industry
regulations, principles, and practices; and company policies that
govern the business unit's products/serviceHours: Monday - Friday,
8:00AM - 4:30PMLocations: 5550 Heritage Oaks Dr. Pensacola, FL
Follin Ln. Vienna, Virginia Security Drive Winchester, VA
22602About 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 II (HMDA), Professions , Vienna, Maryland
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