Operational Risk Analyst II (HMDA)

Company: Navy Federal Credit Union
Location: Winchester
Posted on: May 1, 2024

Job Description:

OverviewTo review, analyze, and report on Navy Federals 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 Federals 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 assignedQualificationsBachelors 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 practicesMasters 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 units products/serviceHours: Monday - Friday, 8:00AM - 4:30PMLocations: 5550 Heritage Oaks Dr. Pensacola, FL 32526 - 820 Follin Ln. Vienna, Virginia 22180 - 41 Security Drive Winchester, VA 22602About UsYou have goals, dreams, hobbies, and things you're passionate aboutwhat'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 themfriends, family, and passions. And we're looking for team members who are passionate about our missionmaking 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 teams 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.by Jobble

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