Operational Risk Analyst I/II

Overview

Level I

To review, analyze, and report on Navy Federal's risk, quality, service, and controls, to improve operational efficiency and effectiveness, mitigate risk and remediate operational and regulatory vulnerabilities. Conduct risk assessments to ensure compliance with federal and state regulatory requirements, industry standards, and Navy Federal operating procedures. Maintain and update Operational Risk procedural manuals, job aides, and tools. Develop standard risk assessment scopes and conduct re-scoping of already established reviews to ensure validity. Perform analyses to determine the root cause of process gaps. 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.

Level II

To review, analyze, and report on Navy Federal's risk, quality, service, and controls, to improve operational efficiency and effectiveness, mitigate risk and remediate operational and regulatory vulnerabilities. Develop, lead and approve risk assessment projects to assess compliance with federal and state regulatory requirements, industry standards, and Navy Federal operating procedures. Maintain and update Operational Risk procedural manuals, job aides, and tools. Develop and assist in overseeing the most complex and highly specialized risk assessment scopes. Perform and validate in depth and comprehensive gap analyses to determine the root cause of process gaps and regulatory compliance failures. Serve as liaison with Internal Audit and Regulatory Compliance to ensure adherence with Enterprise and Compliance Risk Management requirements. Serve as the Operational Risk point of contact for external examination preparation and ad hoc projects. Administer and oversee the compliance monitoring platform and data entry to ensure adherence with regulatory government agencies requirements. Monitor lower level Analysts' corrective action target dates and oversee implementation of corrective actions to ensure prompt remediation and control implementation in coordination with internal/external audit examinations. Lead and assist in leading complex/difficult tasks of significant impact and latitude requiring advanced analysis.

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Responsibilities

Level I

Plan the research for and development of specialized risk assessment scopes
Collaborate with management and personnel to optimize risk assessment scope development
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 specialized 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 Operational Risk policies and procedures
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

Level II

Plan the research for and development of specialized risk assessment scopes
Collaborate with management and personnel to optimize risk assessment scope development
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 assists provide expertise in with the administration of specialized 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
Develop, lead and oversee efforts 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
Manage, monitor and report on internal and external audit activities
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
Escalate to management and assist in determining corrective action for material breaches of applicable laws, rules, policies or standards with actual or potential impact
Serves as coach/mentor to lower level staff
Serve as subject matter expert regarding operational risk protocols, methodologies and effective control solutions
Oversee the record retention of 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 Operational Risk 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
Make presentations to management and staff on industry and regulatory related news and developments
Serve as Supervisor in the incumbent's absence
Perform other duties as assigned

Qualifications

Level I

Working knowledge and understanding of risk-based auditing techniques and methodologies
Working knowledge of applicable federal and state regulations, company policies, and industry best practices
Working knowledge of operational and regulatory risk controls concepts and practices
Proven ability to plan, organize and effectively execute risk mitigation and process improvement initiatives
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
Effective communication with ability to exercise good judgement and tact in dealing with Navy Federal senior management
Exposure to collaborating across organizational boundaries and building partnerships across various functions
Experience in managing multiple priorities independently and/or in a team environment to achieve goals
that govern the business unit's products/services
Effective project management skills
Effective organizational, planning and time management skills
Effective research and analytical skills
Effective communication and negotiation skills
Effective skill maintaining accuracy with attention to detail and meeting deadlines . click apply for full job details