Operational Risk Analyst III (Controls and Governance)
Company: Navy Federal Credit Union
Location: Vienna
Posted on: May 3, 2024
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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, Ellicott City , Operational Risk Analyst III (Controls and Governance), Professions , Vienna, Maryland
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