Operational Risk Analyst II/III

Location: VA Winchester - Operations Full/Part Time: Full-Time Regular/Temporary: Regular

Job Description


You have goals, dreams, hobbies and things you’re passionate about.

What’s Important to You Is Important to Us
We’re looking for people who not only want to do meaningful, challenging work, keep their skills sharp and move ahead, but who also take time for the things that matter to them—friends, family and passions. And we're looking for team members who are passionate about our mission—making a difference in military members' and their families' lives. Together, we can make it happen.

Don’t take our word for it.

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  • FORTUNE® Best Workplaces for Millennials
  • Forbes® America’s Best Employers


Basic Purpose

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.

• 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
• Maintain clear and organized risk assessment documentation including data, scope, status, results, reports, corrective actions, and completion date
• Identify training opportunities and assist in the development of lower level staff
• 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
• Serve as primary point of contact and subject matter expert in meetings, committees, and major projects related to the development and improvement of processes and controls
• Stay abreast of industry and regulatory related news and developments


• 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
• 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 communication with ability to exercise good judgement and tact in dealing with Navy Federal senior management
• Effective skill at working with and communicating with all with all levels of employees and management within and outside the organization
• Exposure to collaborating across organizational boundaries and building partnerships across various functions
• Advanced customer service focus and relationship management skills
• Experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Effective skill using innovative thinking to solve problems and facilitate the decision-making process
• Effective word processing and spreadsheet software skills
• Effective presentation software skills
• Desired – Working knowledge of operational and regulatory risk controls, concepts and practices
• Desired – Master’s Degree in related field or equivalent combination of training, education and experience
• Desired – NCCO, CRCM, or other applicable compliance certification
• Desired – Working knowledge of Navy Federal’s functions, philosophy, operations and organizational objectives
• Desired – Working knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business unit’s products/services

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

5550 Heritage Oaks Drive, Pensacola, FL 32526
141 Security Drive, Winchester, VA 22602

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.
An assessment may be required to compete for this position.

Bank Secrecy Act

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