Operational Risk Analyst II (HMDA)

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

Job Description:

Overview To 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. Responsibilities Responsible 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 applications
Data entry of HMDA data into RATA software
Plan the research for and development of specialized risk assessment scopes
Collaborate with management and personnel to optimize HMDA data collection and reporting
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 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 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 HMDA 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 Bachelor's Degree in Business Administration, Auditing, or related field or equivalent combination of training, education and experience
Strong 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 Empower
Advanced project management skills
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
Advanced organizational, planning and time management skills
Advanced research and analytical skills
Advanced communication and negotiation skills
Proven ability to influence management decision making
Advanced skill maintaining accuracy with attention to detail and meeting deadlines
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
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
Experience in collaborating across organizational boundaries and building partnerships across various functions
Advanced customer service focus and relationship management skills
Significant experience in managing multiple priorities independently and/or in a team environment to achieve goals
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 Desired Qualifications Advanced knowledge of operational and regulatory risk controls, concepts, and practices
Master's Degree in related field or equivalent combination of training, education and experience
NCCO, CRCM, or other applicable compliance certification
Advanced knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business unit's products/service Hours: Monday - Friday, 8:00AM - 4:30PM Locations: 5550 Heritage Oaks Dr. Pensacola, FL 32526 - 820 Follin Ln. Vienna, Virginia 22180 - 41 Security Drive Winchester, VA 22602 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.

Keywords: Navy Federal Credit Union, Columbia , Operational Risk Analyst II (HMDA), Professions , Vienna, Maryland