Overview

The Procurement and Vendor Management Operational Risk Analyst supports effective departmental management under NFCU risk management practices in collaboration with business process owners. The Analyst role proactively builds and maintains risk and control matrices to identify, assess, monitor, update, and report operational control monitoring results related to procurement and vendor management.

Develop, lead and approve risk assessment projects to assess 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 and assist in overseeing the most complex and highly specialized risk assessment scopes. Perform and validate in depth and comprehensive gap analyses to determine the root cause of process gaps and regulatory compliance failures. Serve as liaison with Internal Audit and Regulatory Compliance to ensure adherence with Enterprise and Compliance Risk Management requirements. Administer and oversee the compliance monitoring platform and data entry to ensure adherence with regulatory government agencies requirements. Lead and assist in leading complex/difficult tasks of significant impact and latitude requiring advanced analysis.

• Perform and facilitate the collection, review and assimilation of RCSA assessment data and reporting into concise and meaningful reports
• Develop and monitor Procurement and Vendor Management Key Risk Indicators (KRIs) and Key Performance Indicators (KPIs) and contribute to development of dashboards, scorecards and reports to support management activities
• Supports the execution of front-line controls, self-assurance, RCSAs, independent risk testing, and audit activities as directed
• 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 assists provide expertise in 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
• Develop, lead and oversee efforts 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
• 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
• 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
• Analyzes the impact of changes to federal and state regulations and makes recommendations for changes to policies, procedures and practices to ensure compliance
• Perform other duties as assigned

• Expert knowledge and understanding of risk-based auditing techniques and methodologies
• Minimum of 2-3 years of hands-on experience with risk and controls self-assessments (RCSA)
• Significant experience that demonstrates the ability to research, compile, and document data, business processes, and workflow
• Advanced knowledge in Procurement and Vendor Management, and Third-Party Risk Management
• Demonstrated experience supporting or evaluating data integration processes across common platforms (e.g., Service Now, Pega, SharePoint Online, PowerBI, etc.)
• Advanced skill interpreting, extrapolating, and interpolating data for statistical research and modeling
• Advanced knowledge of applicable federal and state regulations, company policies, and industry best practices
• Working knowledge of various data structures and ability to extract data sources (e.g., SharePoint, Service Now, PowerBI)
• Expert knowledge of operational and regulatory risk control concepts and practices
• Proven ability to plan, organize and effectively execute risk mitigation and process improvement initiatives
• Advanced knowledge of products, services, processes, requirements, and systems related to the business unit
• Advanced skill analyzing statistics and reports to determine business performance and trends
• Ability to comprehend, analyze, interpret, communicate and apply government and financial industry regulations related principles and practices, and company instructions, procedures and policies
• Advanced Microsoft Excel and Power Point skills
• Ability to work independently and in a team environment
• Significant experience in collaborating across organizational boundaries and building partnerships across various functions
• Significant experience in managing multiple priorities independently and/or in a team environment to achieve goals
• Expert organizational, planning and time management skills
• Expert research and analytical skills
• Expert communication and negotiation skills
• Expert skill maintaining accuracy with attention to detail and meeting deadlines
• Expert communication and negotiation skills with ability to exercise good judgement and tact in dealing with Navy Federal senior management
• Expert customer service focus and relationship management skills
• Expert skill using innovative thinking to solve problems and facilitate the decision-making process
• Advanced word processing and spreadsheet software skills
• Advanced presentation software skills
• Bachelor's Degree in Business Administration, Auditing, or related field or equivalent combination of training, education and experience

• Experience in Third- Party Risk Management
• Working knowledge of Navy Federal's products, services, programs, policies, and procedures
• CPA, CIA, CFA, CRCM, PMP, NCCO, NCRM, CRMA
• Master's Degree in related field or equivalent combination of training, education and experience
• Advanced knowledge of state and Federal laws; industry regulations, principles, and practices; and company policies that govern the business unit's products/services
• PMP Certification (or commensurate experience managing corporate-wide projects)
• Advanced degree in Data Analytics, Information Systems, or related field