Overview

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 risk assessment and issues management. Develop, implement, and manage compliance risk management processes to enhance effectiveness and ensure alignment with key enterprise objectives and corporate strategy. Support the compliance risk evaluation and assessment of federal laws and regulations, business products and services. Serve as a liaison and partner with Navy Federal business units to reduce and mitigate compliance risk.

This role will primarily specialize in areas related to BSA/FinCEN/OFAC/Treasury regulations, and may support additional areas such as CFPB and NCUA regulations include, but are 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, and Electronic Funds Transfer Act.

Responsibilities

• Implements compliance risk management methodologies and framework to drive consistency in analyzing, aggregating, reporting, and managing compliance risks
• Applies compliance risk management disciplines to identify, assess, mitigate, manage, and report on compliance risks as part of the enterprise-wide compliance risk assessment and other compliance risk activities
• Supports compliance risk assessment program; assesses inherent risk, residual risk, and control effectiveness of applicable federal laws and regulations
• Creates and prepares status reports on key compliance risk initiatives, risk assessment summaries, and other key updates for presentation to senior executives, Board Committees, Board Sub-Committees, and regulators, as needed
• Provides guidance and support as compliance risk subject matter expert; conduct effective challenge/oversee 1st Line identified compliance risks from the Risk and Control Self Assessments (RCSAs); ensures business units and 1st Line risk teams appropriately implemented Enterprise Risk Management methodologies and helps to assure compliance through effective risk management
• Ensures compliance risk management processes are effective and representative of best practices
• Develops processes to analyze, document and monitor compliance risk decisions for products and services and ensures thorough consideration of risk in accordance with risk appetite
• Monitors key compliance risks, issues, and indicators; aggregates compliance risk data from across the organization, including compliance monitoring and testing results through applicable Governance, Risk, and Compliance (GRC) software and other mechanisms
• Manages Compliance’s GRC program and corresponding vendor relationships
• Conducts effective challenge/oversees 1st Line identified issues; ensures business unit appropriately identified the issue, root cause, and implemented the remediation actions.
• Keeps Compliance leadership and business units apprised of compliance risk status, as needed, or required
• Works on complex issues requiring in-depth knowledge of organizational objectives
• Performs other duties as required or appropriate

Qualifications

• Bachelor’s Degree, or the equivalent combination of experience, education, and training
• Advanced knowledge of laws and regulations related to Bank Secrecy Act, USA Patriot Act, and OFAC. Thorough knowledge of compliance issues, laws and regulations impacting financial institutions, such as Unfair, Deceptive, Abusive Acts or Practices (UDAAP) standards; Equal Credit Opportunity Act; etc.
• Expert knowledge of compliance, enterprise, and operational risk management
• Extensive experience that demonstrates an excellent understanding/ability to interpret and apply legislative and regulatory compliance guidelines, preferably in a financial institution
• Ability to analyze highly complex concepts and articulate logical, coherent, workable solutions and procedures
• Ability to work independently on multiple issues concurrently and to exercise independent judgment in establishing priorities
• Ability to support and promote an effective, ongoing credit union regulatory compliance program
• Demonstrated ability to effectively communicate complex issues both verbally and in writing
• Demonstrated highly effective interpersonal skills for working closely with internal organizational units
• Ability to lead and manage projects

Desired Qualifications

• Master’s Degree or other advanced degree in a related field of study
• Relevant professional certification (e.g., CAMS, NCBSO)
• Experience in conducting monitoring and assessing risk associated with regulatory compliance issues
• Advanced knowledge of Navy Federal’s functions, philosophy, operations, and organizational objectives
• Experience in credit union industry
• In-depth experience with financial compliance laws and regulations
• Master’s Degree or other advanced degree in a related field of study
• Relevant professional certification (e.g., CAMS, NCBSO)
• Experience in conducting monitoring and assessing risk associated with regulatory compliance issues
• Advanced knowledge of Navy Federal’s functions, philosophy, operations, and organizational objectives
• Experience in credit union industry
• In-depth experience with financial compliance laws and regulations
• Remains cognizant of and adheres to Navy Federal policies and procedures, regulations pertaining to the Bank Secrecy Act.

Hours: Monday - Friday, 8:00AM - 4:30PM

Locations: 820 Follin Lane Vienna, Virginia 22180

About Us

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:

• Military Times 2022 Best for Vets Employers

• WayUp Top 100 Internship Programs

• Forbes® 2022 The Best Employers for New Grads

• Fortune Best Workplaces for Women

• Fortune 100 Best Companies to Work For®

• Computerworld® Best Places to Work in IT

• Ripplematch Campus Forward Award - Excellence in Early Career Hiring

• Fortune Best Place to Work for Financial and Insurance Services

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 EOE/AA/M/F/Veteran/Disability
Disclaimers: 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. Job postings are subject to close early or extend out longer than the anticipated closing date at the hiring team’s discretion based on qualified applicant volume. Navy Federal Credit Union assesses market data to establish salary ranges that enable us to remain competitive. You are paid within the salary range, based on your experience, location and market position
Bank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.