Senior Policy & Compliance Officer (Compliance Risk)

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. 

 

• 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

• 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