Overview
The Procurement and Vendor Management Operational Risk Analyst supports effective departmental management under NFCU risk management practices 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.
Talent Quest
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Responsibilities
Perform and facilitate the collection, review and assimilation of RCSA assessment data and reporting into concise and meaningful reports
Develop 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 activities
Supports the execution of front-line controls, self-assurance, RCSAs, independent risk testing, and audit activities as directed
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
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
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
Analyzes the impact of changes to federal and state regulations and makes recommendations for changes to policies, procedures and practices to ensure compliance
Perform other duties as assigned
Qualifications
Expert knowledge and understanding of risk-based auditing techniques and methodologies
Minimum 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 workflow
Advanced knowledge in Procurement and Vendor Management, and Third-Party Risk Management
Demonstrated 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 modeling
Advanced knowledge of applicable federal and state regulations, company policies, and industry best practices
Working 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 practices
Proven ability to plan, organize and effectively execute risk mitigation and process improvement initiatives
Advanced knowledge of products, services, processes, requirements, and systems related to the business unit
Advanced skill analyzing statistics and reports to determine business performance and trends
Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations related principles and practices, and company instructions, procedures and policies
Advanced Microsoft Excel and Power Point skills
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 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
Desired Qualifications
Experience in Third- Party Risk Management
Working knowledge of Navy Federal's products, services, programs, policies, and procedures
CPA, CIA, CFA, CRCM, PMP, NCCO, NCRM, CRMA
Master's Degree in related field or equivalent combination of training, education and experience
Advanced knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business unit's products/services
PMP Certification (or commensurate experience managing corporate-wide projects)
Advanced degree in Data Analytics, Information Systems, or related field
Hours: Monday - Friday, 8:00AM - 4:30PM
Location: 820 Follin Lane, Vienna, VA 22180
About Us
Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.
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- Ripplematch Campus Forward Award - Excellence in Early Career Hiring
- Yello and WayUp Top 100 Internship Programs
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Equal 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/Disability
Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.
Disclaimers: 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 position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.
REQNUMBER: 21230
