Model Governance Operational Risk Analyst III

Overview

The Lending Analytics Model Governance Operational Risk Analyst supports Navy Federal Credit Union's (NFCU's) Quantitative Modeling team in effectively managing the 1st Line of Defense internal control environment. In collaboration with business process owners, the Analyst role proactively builds and maintains risk and control matrices to identify, assess, monitor, update and report out operational control monitoring results. This role includes effective partnerships with risk partners and process owners within Quantitative Modeling and throughout the enterprise's three lines of defense. The Analyst will also partner with business process owners on Control Testing and Issue and Event Management results and efforts.

• Partner with stakeholders, including process owners and control officers, to document processes (via process flows), risks and controls, enhance control language, and validate that controls are being performed in compliance with the system of controls, relevant policies, standards, procedures, and other requirements to mitigate operational risks to our modeling efforts
• Support the execution of front line controls, self-assurance, and risk assessment activities such as controls reviews, business process management analysis, RCSAs, independent risk assessment, and audit activities as directed
• Support the Model Risk Management (MRM) team's validation efforts and satisfy their reporting requirements for inventories, issues management, and performance.
• Provide ongoing assessment of Quantative Modeling's risk and controls profile through regular monitoring and status reporting of risks, issues, events and initiatives within core processes
• Support iterative MRM validation and challenge efforts, working with appropriate stakeholders across the lines of defense
• Perform and facilitate the collection, review and assimilation of RCSA assessment data and reporting into concise and meaningful reports
• Assess exposure to risk, measure operational risk against ERM frameworks, assist in establishing policies and procedures to minimize risk, identify ways to protect the organization risks arising from operations
• Coordinate efforts with Lending Operational Risk functions to maintain control effectiveness and residual risk ratings
• Support implementation for change management needs related to controls with appropriate personnel within the team and/or across team lines
• Maintain procedures, templates, guides, training material, and model risk policies for the internal controls system
• Monitor and oversee the progress of risk assessments, model validations, controls monitoring; respond to and support remediation efforts for findings or issues
• Assist with operational risk event remediation efforts when needed
• Serve as a subject matter expert with internal and external auditors (e.g., MRM, NCUA, CFPB, and contracted third parties) to address and resolve audit questions and findings relative to core process risk and controls management
• Perform the testing of control design and the testing of control effectiveness
• Identify areas of improvement in existing process, methodology, and policies. Identify gaps and recommend enhancements.
• Drive adoption and enforce best practices in report, templates, methodologies, and tools with the business process owners and team members
• Coordinate required meetings, reviews and scheduling needs
• Perform other duties as assigned

• Bachelor's degree in Economics, Mathematics, Computer Science, Statistics, Accounting, Auditing, Law 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 operational risk and controls, internal controls concepts and practices and/or specific model risk frameworks
• Proven experience working within cross-functional, multi-dimensional teams and projects of complexity which have significant business risk and impact
• Proven ability to plan, organize and effectively execute risk mitigation and process improvement initiatives
• Advanced organizational, planning and time management skills in order to effectively manage competing priorities in a fast paced and dynamic environment
• 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
• Effective analytical and complex thinking skills to include summarizing information and clearly identifying key elements, patterns, results and relationships
• Advanced skill building effective relationships through rapport, trust, diplomacy, and tact
• Advanced skill to influence, negotiate, persuade, and build consensus to reach agreeable exchange & positive outcomes with business partners
• Extensive experience in working with all levels of staff, management, stakeholders, vendors

• Working knowledge of Navy Federal's products, services, programs, policies and procedures
• CPA, CIA, CFA, CRCM, PMP, NCCO, NCRM, CRMA
• Advanced knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business unit's products/services