Operational Risk Analyst
- Location: Bethesda, MD
- Job Type: Full-time
- Salary: $80K - $120K
Duties
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.
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 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
Qualifications
Bachelor’s Degree in Business Administration, Auditing, or related field or equivalent combination of training, education and experience
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
Effective project management skills
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
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
Working knowledge of products, services, processes, requirements, and systems related to the business unit