Principal Risk Analyst (Third Party Risk Management)

OverviewResponsible for supporting the operation of the Third-Party Risk Management (TPRM) function in Procurement and Vendor Management by evaluating and analyzing third-party risk and managing relationships and performance of varying complexity. This role involves identifying and implementing approaches and solutions to mitigate these risks.Focus on post-contract execution TPRM activities and provide advice to management based on this knowledge base. Collaborate with vendor relationship owners in the development and management of their vendor oversight plans. Lead the annual enterprise vendor risk assessment process.Promote adherence to the TPRM framework through collaboration with vendor relationship owners in developing and managing vendor oversight plans, managing third-party concerns, and conducting vendor risk assessment activities. Develop and maintain program tools and templates to document, manage, advise, and report on enterprise vendors and associated risks, enhancing the TPRM Program's oversight capabilities.ResponsibilitiesPlan the research for and development of specialized risk assessment scopesCollaborate with management and personnel to optimize risk assessment scope developmentIdentify potential business risks, operational and regulatory process deficiencies and improvement opportunitiesGather and synthesize data; present conclusions and offer risk mitigation, remediation and process improvement solutions to managementLead/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 proceduresDevelop, lead and oversee efforts to improve the efficiency and effectiveness of third-party risk management and risk mitigation processes -Prepare and present to management and/or affected business unit summaries, operational and regulatory third-party risk assessment reports, trending, and remedial or mitigation solutionsAssist with the development and enhancement of practices, procedures, and instructionsDevelop and maintain strong working relationships with team members, business unit stakeholders, subject matter experts, and leaders; work with senior management on complex issuesLead moderate to large projects and initiativesMentor lower level staffImplement PVM TPRM Guidance, provide training and support to first line vendor relationship owners and BU stakeholders throughout the procurement lifecycle, collaborate with cross functional teams to ensure consistency and proactive management of vendor relationshipsQualifications7-10 years of experience in risk managementSubject matter expert within business area/specialization with understanding of interrelationships of different disciplinesSignificant knowledge and understanding of risk-based auditing techniques and methodologiesSignificant knowledge of applicable federal and state regulations, company policies, and industry best practicesSignificant experience managing multi-faceted projects simultaneously that have cross-departmental impactSignificant knowledge of operational and regulatory risk control concepts and practicesProven ability to plan, organize and effectively execute risk mitigation and process improvement initiativesAdvanced organizational, planning and time management skillsAdvanced research and analytical skillsBachelor's Degree in Business Administration, Auditing, or related field or equivalent combination of training, education and experienceDesired Qualifications:Experience in vendor management, strategic sourcing, procurement or third-party risk managementExpert knowledge in vendor performance management including best practice in vendor performance management and action plansEffectively exercise discretion, takes initiative, and uses good judgment to make sound decisionsManaging multiple priorities independently and/or in a team environment to achieve goalsEffectively navigates through ambiguity and comfortable with iterative agile approachesWorking knowledge of Navy Federal products, services, programs, policies and proceduresUnderstanding of business objectives and strategies from the perspective of a vendorThird party management in a financial services setting including development or delivery of enterprise programsVendor Management or third-party risk management related certificationAdvanced skills in leading and participating in cross functional teamsAdvanced oral, written and interpersonal communication and presentation skillsAdvanced skill communicating with all levels within an organizationEffective skill translating business goals and objectives into outcomesAdvanced skill in resolving conflicting requests and meeting changing requirementsMaster's Degree in related field or equivalent combination of training, education and experienceHours: Monday - Friday, 8:00AM - 4:30PMLocation: 820 Follin Lane Vienna, Virginia 22180About UsNavy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks.Our approach to careers is simple yet powerful: Make our mission your passion.• Best Companies for Latinos to Work for 2024• Computerworld® Best Places to Work in IT• Forbes® 2024 America's Best Large Employers• Forbes® 2024 America's Best Employers for New Grads• Forbes® 2024 America's Best Employers for Tech Workers• Fortune Best Workplaces for Millennialsâ„¢ 2024• Fortune Best Workplaces for Women â„¢ 2024• Fortune 100 Best Companies to Work For® 2024• Military Times 2024 Best for Vets Employers• Newsweek Most Loved Workplaces• 2024 PEOPLE® Companies That Care• Ripplematch Recruiting Choice Award• Yello and WayUp Top 100 Internship ProgramsFrom Fortune. ©2024 Fortune Media IP Limited. All rights reserved. Used under license. Fortune and Fortune Media IP Limited are not affiliated with, and do not endorse products or services of, Navy Federal Credit Union.Equal Employment Opportunity: Navy Federal values, celebrates, and enacts diversity in the workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected Veteran.Hybrid Workplace: Navy Federal Credit Union is a hybrid workplace, and details will be discussed during your interview process.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 positionBank Secrecy Act: Remains cognizant of and adheres to Navy Federal policies and procedures, and regulations pertaining to the Bank Secrecy Act.

Created: 2025-03-10