Operational Risk Analyst III (Data Governance Risk)

Navy Federal Credit Union - Pensacola, FL

Full-time - Mid Level

Pensacola, FL

Credit Intermediation and Related Activities

About the position

The position involves reviewing, analyzing, and reporting on Navy Federal's risk, quality, service, and controls to enhance operational efficiency and effectiveness while mitigating risks and addressing operational and regulatory vulnerabilities. The role requires the development, leadership, and approval of risk assessment projects to ensure compliance with federal and state regulatory requirements, industry standards, and Navy Federal's operating procedures. The successful candidate will maintain and update Operational Risk procedural manuals, job aids, and tools, and will be responsible for overseeing complex and specialized risk assessment scopes. In addition, the role includes performing and validating comprehensive gap analyses to identify the root causes of process gaps and regulatory compliance failures. The individual will act as a liaison with Internal Audit and Regulatory Compliance to ensure adherence to Enterprise and Compliance Risk Management requirements. They will also serve as the Operational Risk point of contact for external examination preparation and ad hoc projects, administering and overseeing the compliance monitoring platform and data entry to ensure adherence to regulatory requirements. The position requires monitoring lower-level analysts' corrective action target dates and overseeing the implementation of corrective actions to ensure prompt remediation and control implementation in coordination with internal and external audit examinations. The candidate will lead and assist in complex tasks of significant impact, requiring advanced analysis, and will be eligible for the TalentQuest employee referral program.

Responsibilities

• 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 assist in 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
• Serve 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
• Develop new and update 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
• Analyze the impact of changes to federal and state regulations and make 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

Requirements

• Expert knowledge and understanding of risk-based auditing techniques and methodologies
• Advanced knowledge of applicable federal and state regulations, company policies, and industry best practices
• Significant experience managing multi-faceted projects simultaneously that have cross-departmental impact
• Expert knowledge of operational and regulatory risk control concepts and practices
• Proven ability to plan, organize and effectively execute risk mitigation and process improvement initiatives
• Proven ability to influence management decision making
• Advanced 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
• Significant experience in collaborating across organizational boundaries and building partnerships across various functions
• Significant experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Expert organizational, planning and time management skills
• Expert research and analytical skills
• Expert communication and negotiation skills
• Expert skill maintaining accuracy with attention to detail and meeting deadlines
• Expert communication and negotiation skills with ability to exercise good judgement and tact in dealing with Navy Federal's senior management
• Expert customer service focus and relationship management skills
• Expert skill using innovative thinking to solve problems and facilitate the decision-making process
• Advanced word processing and spreadsheet software skills
• Advanced presentation software skills
• Bachelor's Degree in Business Administration, Auditing, or related field or equivalent combination of training, education and experience

Nice-to-haves

• Master's Degree in related field or equivalent combination of training, education and experience
• Advanced knowledge of operational and regulatory risk controls, concepts and practices
• Working knowledge of Navy Federal's functions, philosophy, operations and organizational objectives
• Advanced knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business unit's products/services
• Desired - NCCO, CRCM, or other applicable compliance certification
• Experience performing Data risk assessments, including research and analysis for data related assessments and control testing.

Benefits

• Highly competitive pay
• Generous benefits and perks
• Hybrid workplace
• Employee referral program
• Recognition as one of the Best Companies for Latinos to Work for 2024
• Ranked among Computerworld Best Places to Work in IT
• Listed in Forbes 2024 America's Best Large Employers
• Recognized in Forbes 2023 The Best Employers for New Grads
• Included in Fortune Best Workplaces for Millennials 2023
• Ranked in Fortune Best Workplaces for Women 2023
• Listed in Fortune 100 Best Companies to Work For 2024
• Recognized by Military Times 2023 Best for Vets Employers
• Named by Newsweek Most Loved Workplaces
• Awarded Ripplematch Campus Forward Award - Excellence in Early Career Hiring
• Ranked in Yello and WayUp Top 100 Internship Programs