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Sr Policy & Compliance Officer (Transaction Testing & Monitoring)

Location: VA Vienna - Headquarters Full/Part Time: Full-Time Regular/Temporary: Regular

Job Description


Why You Will Love Being Part of the Navy Federal Team:

*Competitive compensation with opportunities for annual raises, promotions, and bonus potential
*Best-in-Class Benefits! (7% 401k match / Pension plan / Tuition reimbursement / Great insurance options)
*On-site amenities include fitness center, wellness center, cafeteria, etc. at Pensacola, FL; Vienna, VA and Winchester, VA campuses
*Consistently Awarded Top Workplace
*Nationally recognized training department by TRAINING Magazine IND123
*An employee-focused, diverse, and service-oriented workplace environment

Basic Purpose

To monitor, research, analyze and interpret relevant federal and state laws and regulations to ensure credit union policies and practices comply with applicable legal and regulatory requirements. Experience in compliance transaction testing. Perform risk-based regulatory compliance transaction testing for the purpose of independently validating business line adherence to applicable laws, regulations, policies, and procedures and identifying control deficiencies and the risk implications.

Pertinent laws and regulations include, but not limited to, unfair, deceptive, abusive acts or practices (UDAAP) standards; Truth in Lending Act; Truth in Savings Act; Equal Credit Opportunity Act; Fair Credit Reporting Act; Real Estate Settlement Procedures Act, Regulation Z, and Regulation E.

Major Responsibilities:

1. 40 %:
•Ensures products, services, and operations are in compliance with all legal and regulatory requirements: monitors, researches, and analyzes complex and difficult public policy governance including federal and state laws, regulations, staff commentaries, court decisions, legal opinions, trade association guidance, Instructions, and other resources. 
•Performs targeted transaction testing for consumer compliance requirements as well as Navy Federal policies and procedures by evaluating lines of business processes and controls in accordance with established timelines and compliance testing guidelines
•Identifies control deficiencies, evaluate their risks implications, and draw the appropriate conclusions to best communicate with the lines of business
•Develops, coordinates and executes plan to monitor collections, lending, and non-lending practices, including but not limited to, phone calls and written correspondence.
•Employs technical compliance expertise to resolve complex compliance issues. 
•Provides technical advice and guidance to policy analysts on compliance matters.
•Counsels and advises management and operating units on requirements of applicable laws and regulations. 
•Selects, analyzes, and disseminates applicable compliance information to appropriate management and operating units. 
•Prepares written and oral analyses, reports and other communications for management and operating units. 
•Leads teams to implement new or changed compliance requirements. 
•Participates on teams to develop compliant products and services. 
•Evaluates, selects, and maintains resources and materials for the compliance library. 
•Emphasizes compliance in regular contacts throughout the organization. 

2. 25%:
•Monitors, researches, and analyzes public policy governance and its formulation including federal and state laws and regulations, legislative and regulatory proposals, legislative agendas, legislator activities, trade association efforts, and other third party activities to make recommendations to senior management on complex positions and courses of action consistent with organizational mission, strategic plan, and operations. 
•Assesses internal input and external stances on proposed legislation and regulations. 
•Summarizes the issues, as appropriate, requests input, and distributes copies of proposed legislation and regulations to management.  

3. 20%:
•Responds to various compliance inquiries from the organizations’ operating units.  
•Conducts internal compliance reviews.  Advises appropriate managers and supervisors of findings.  Recommends corrective actions.
•Develops and executes test plans, continually validating and improving existing test design while also identifying new opportunities to execute testing in high risk areas
Partner with business units to ensure corrective action plans are developed and implemented

4. 15%:
•Supports senior management on matters relating to compliance, legislative and regulatory proposals, and other public policy matters by preparing research papers, compliance opinions, correspondence, speeches, talking points, etc. 
•Maintains liaison with external groups and represents in external meetings as appropriate.
•Performs other duties as required or appropriate.

Required Knowledge, Skills and Abilities:

•Bachelors degree.
•Experience in researching and analyzing complex laws and regulations, staff commentaries, legal opinions, court decisions and other documentation and the analysis of operations to determine and ensure compliance.
•Ability to support and promote an effective, ongoing credit union regulatory compliance program.
•Thorough knowledge of compliance issues, laws and regulations relating to mortgage origination and servicing, such as unfair, deceptive, abusive acts or practices (UDAAP) standards; Truth in Lending Act; Truth in Savings Act; Real Estate Settlement Procedures Act; and Equal Credit Opportunity Act.  As well as a working knowledge of the Fair Credit Reporting Act, student lending and commercial lending.
•Demonstrated ability to effectively communicate complex issues both verbally and in writing.
•Demonstrated highly effective interpersonal skills for working closely with internal organizational units and for effective representation of organizational positions on issues with external parties and groups.
•Thorough knowledge of project management, operations analysis and legislative staff work procedures.
•Ability to lead and manage projects.
•Ability to work independently on multiple issues concurrently and to exercise independent judgment in establishing priorities.
•Ability to organize work, make sound decisions and exercise good judgment.


•Graduate degree in related area.
•Working knowledge in UCC, Privacy, Regulation E (Electronic Funds Transfer Act), Americans With Disabilities Act, and Vendor Oversight.
•Experience in conducting monitoring and assessing risk associated with regulatory compliance issues.
•Experience with spreadsheets, including Sharepoint, Excel, etc.
•Thorough knowledge of the current and future challenges facing the credit union movement.
•Certification as a credit union compliance professional by a widely recognized certification authority.

Hours: Monday - Friday, 8:00am - 4:30pm

Location: 820 Follin Lane, Vienna, Virginia 22180

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


Navy Federal reserves the right to fill this role at a higher/lower grade level based on business need.

Bank Secrecy Act

Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.