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Basic Purpose
To design, develop, and implement operational risk frameworks, to effectively identify, assess, monitor and measure risk involving people, processes, systems and external events. Ensure operational risk programs align with strategic business initiatives, achieve business and quality objectives, improve quality of services, mitigate risk, maximize returns, and enhance operating procedures. Collaborate with other business units and Compliance to assess and support organization risk mitigation needs by developing strategies, tactics, and quality review solutions. Ensure adherence to laws, regulations, policies, best practices, and industry standards related to the activities of the business unit. Schedule and oversees audit preparedness and submissions. Primarily responsible for strategic issues.
Responsibilities:
• Conceptualize and implement tools, methods, and programs to identify and mitigate operational and regulatory risks, manage risk exposure, and ensure best practices and compliance with regulations and policies
• Oversee functional and operational reviews, root cause analysis, analysis of existing business risk and the design and implementation of internal controls
• Develop and implement Key Risk Indicators (KRI) to detect and monitor risk exposure
• Oversee the identification and remediation of control deficiencies, conduct quality control reviews, develop solutions to strengthen controls, and oversee corrective actions to aid management decisions and mitigate operational and regulatory risks
• Communicate quality assurance procedures, existing protocols, and effective controls
• Evaluate the adequacy of corrective action taken on past reviews and reports on the status of approved recommendations
• Partner with management and key staff from other business units to identify processes, study and investigate operational risk issues, and develop solutions
• Ensure understanding and implementation of new operational risk policies and procedures
• Develop and translate strategy and goals into branch objectives, plans, and actions
• Develop policies, processes, and procedures for the branch to effectively manage fraud and financial risk
• Assist with strategic planning and goal-setting for the Division
• Consult with key strategic partners to ensure branch objectives align with division and department goals
• Direct the development of key projects/initiatives in consultation with business partners
• Partner with senior management to ensure internal/external exam preparedness
• Measure and evaluate the success of operational risk programs to determine the effectiveness of the business units’ adherence to the operational risk framework requirements, internal policies, and best practices
• Perform root cause analysis of risks to identify potential process and/or training enhancements
• Develop strategies to resolve system/operational/functional issues; develop standards, objectives, priorities and alternatives
• Define specifications for automated system development and enhancement, assess accuracy of deliverables, and determine training and communication needs
• Perform supervisory/managerial responsibilities
o Ensure adequate/skilled staffing; select employees
o Establish performance goals and priorities
o Prepare, conduct and review performance appraisals
o Develop, mentor and counsel staff
o Provide input and/or prepare budget requirements for Annual Financial Plan (AFP)
o Ensure section/branch goals and objectives align with division/department strategy
o Ensure efficiency of operations
o Leadership Level – Supervise daily activities
• Perform other duties as assigned
Qualifications and Education Requirements:
• Bachelor’s degree in Business Administration, Finance, or related field, or the equivalent combination of education, training and experience
• Advanced knowledge of applicable federal and state laws, rules and regulations
• Working knowledge of banking/financial industry trends, products and services
• Advanced knowledge of debit and/or credit card fraud issues, patterns and processes
• Significant progressively responsible experience leading and managing an analytics operation, preferably in a large financial institution, including operational and regulatory risk controls
• Significant experience demonstrating thought-leadership, initiative-taking, decision making and creativity solving business problems
• Experience managing multiple priorities independently and/or in a team environment to achieve goals
• Working knowledge of regulatory and industry standards impacting financial and debit/credit card products debit/credit card fraud detection, analytics, trends, programs and industry regulations
• Significant experience analyzing data to identify red flags for operational risks
• Significant experience supervising and leading employees
• Significant experience working with all levels of staff, management, stakeholders, vendors
• Advanced research, data mining/querying, analysis, and reporting skills, including proficiency in sophisticated statistical methods and modeling, forecasting, and cost/benefit/risk analysis
• Advanced skill in results-oriented leadership in a challenging environment
• Advanced organizational, planning and time management skills
• Advanced skill interpreting and applying oral and written instructions
• Advanced analytical/quantitative, reconciliation and deductive reasoning skills
• Advanced skill communicating complex technical concepts to non-technical audiences
• Advanced skill presenting findings, conclusions, alternatives and information clearly and concisely
• Effective skill in project management to include establishing and leading project teams; managing timelines/deadlines/resources; ensuring successful project implementation
• Advanced verbal and written communication skills
• Advanced database, word processing, spreadsheet, and presentation software skills
Desired Qualifications and Education Requirements:
• Master’s degree in Business Administration, Finance, or related field
• Working knowledge of NFCU’s policies, procedures, products, and services
• PMP, Six Sigma, NCRM, NCCO certifications
Hours: Monday - Friday, 8:00am - 4:30pm
Location: 820 Follin Lane, Vienna, VA 22180
*Due to COVID-19 and social distancing, this position will be temporarily working from home with plans to return to campus at the desired location listed once Navy Federal is back to normal operations. The specific logistics for returning to campus will be determined at a future date by individual leadership*
