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Operational Risk Analyst III (Procurement & Vendor Management)

Company: Navy Federal Credit Union
Location: Winchester
Posted on: July 8, 2024

Job Description:

OverviewThe Procurement and Vendor Management Operational Risk Analyst III supports effective departmental management under NFCU Data Governance Standards. In collaboration with business process owners, the Analyst role proactively builds and maintains risk and control matrices to identify, assess, monitor, update, and report operational control monitoring results related to procurement and vendor management.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. Administer and oversee the compliance monitoring platform and data entry to ensure adherence with regulatory government agencies requirements. Lead and assist in leading complex/difficult tasks of significant impact and latitude requiring advanced analysis.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.ResponsibilitiesPerform and facilitate the collection, review and assimilation of RCSA assessment data and reporting into concise and meaningful reportsDevelop and monitor Procurement and Vendor Management Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) and contribute to development of dashboards, scorecards and reports to support management activitiesSupports the execution of front-line controls, self-assurance, RCSAs, independent risk testing, and audit activities as directedEvaluate and enhance the Data GovernancePlan the research for and development of specialized risk assessment scopesCollaborate with management and personnel to optimize risk assessment scope developmentIdentify 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 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 Federals quality control standards, policies and proceduresDevelop, lead and oversee efforts 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 proceduresPartner 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 structuresDevelop and help administer optimal data testing and sampling strategies to ensure the most effective risk detection, analyses and control solutionsDevelops new and updates Operational Risk policies and proceduresAnalyzes the impact of changes to federal and state regulations and makes recommendations for changes to policies, procedures and practices to ensure compliancePerform other duties as assignedQualificationsExpert knowledge and understanding of risk-based auditing techniques and methodologiesMinimum of 5-7 years of hands-on experience with risk and controls self-assessments (RCSA)Significant experience that demonstrates the ability to research, compile, and document data, business processes, and workflowAdvanced knowledge in Procurement and Vendor Management, and Third-Party Risk ManagementDemonstrated experience supporting or evaluating data integration processes across common platforms (e.g., Service Now, Pega, SharePoint Online, PowerBI, etc.)Advanced skill interpreting, extrapolating, and interpolating data for statistical research and modelingAdvanced knowledge of applicable federal and state regulations, company policies, and industry best practicesWorking knowledge of various data structures and ability to extract data sources (e.g., SharePoint, Service Now, PowerBI)Expert knowledge of operational and regulatory risk control concepts and practicesProven ability to plan, organize and effectively execute risk mitigation and process improvement initiativesAdvanced knowledge of products, services, processes, requirements, and systems related to the business unitAdvanced skill analyzing statistics and reports to determine business performance and trendsAbility to comprehend, analyze, interpret, communicate and apply government and financial industry regulations related principles and practices, and company instructions, procedures and policiesAdvanced Microsoft Excel and Power Point skillsAbility to work independently and in a team environmentSignificant experience in collaborating across organizational boundaries and building partnerships across various functionsSignificant experience in managing multiple priorities independently and/or in a team environment to achieve goalsExpert organizational, planning and time management skillsExpert research and analytical skillsExpert communication and negotiation skillsExpert skill maintaining accuracy with attention to detail and meeting deadlinesExpert communication and negotiation skills with ability to exercise good judgement and tact in dealing with Navy Federal senior managementExpert customer service focus and relationship management skillsExpert skill using innovative thinking to solve problems and facilitate the decision-making processAdvanced word processing and spreadsheet software skillsAdvanced presentation software skillsBachelors Degree in Business Administration, Auditing, or related field or equivalent combination of training, education and experienceDesired QualificationsExperience in Third- Party Risk ManagementWorking knowledge of Navy Federals products, services, programs, policies, and proceduresCPA, CIA, CFA, CRCM, PMP, NCCO, NCRM, CRMAMasters Degree in related field or equivalent combination of training, education and experienceAdvanced knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business units products/servicesPMP Certification (or commensurate experience managing corporate-wide projects)Advanced degree in Data Analytics, Information Systems, or related fieldHours: Monday - Friday, 8:00AM - 4:30PMLocations: 820 Follin Ln. Vienna, Virginia 22180 - 141 Security Drive Winchester, VA 22602 - 5550 Heritage Oaks Dr. Pensacola, FL 32526About 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, Leesburg , Operational Risk Analyst III (Procurement & Vendor Management), Executive , Winchester, Virginia

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