Technical Risk Analyst

Overview

Navy Federal Credit Union is seeking a highly analytical and detail-oriented Technical Risk Analyst to support the management of the Enterprise Risk Insurance and Claims team. This includes prioritized goals and related risk management initiatives for the benefit of organization while maintaining a compliance and audit-ready posture. This position plays a key role in eliciting business requirements, increasing understanding of the use of risk transfer as it relates to controls, inherent, and residual risk to support proper structuring of renewals and streamlining of claims with the ability to act as a trusted advisor for data-driven and deeply considered decision-making by business leadership. This position will be tasked with optimizing insurance program structures and developing capabilities in areas such as claims and supporting targeted strategic initiatives at a high op-tempo. Comfort interpreting and leveraging data, regulations, analytics, controls and business knowledge to inform risk financing strategies. The ideal candidate will bring knowledge of key concepts in claims, insurance, strong data analysis skills, and a collaborative mindset to support the central mission of safety and soundness of the organization's assets and operations.

The Technical Risk Analyst supports business units for on-time renewal of insurance policies, claims processing, and special projects across the enterprise, an understanding of credit union requirements, and serving as a trusted advisor on loss exposure and risk transfer. Responsible for understanding the overall financial risk landscape, an ability to analyze data, leverage analytics, provide industry-standard deliverables such as standard operating procedures, processes, requirements, and the ability to leverage such deliverables in accordance with the needs of each business unit, Enterprise Risk, and Navy Federal as a whole in the service of our members. Ensures that the organization adheres to industry standards and regulatory requirements. An ability to work under minimal supervision in a timely manner to meet all renewal deadlines, proper approvals, and leveraging lean ways of working.

Navy Federal Credit Union currently does not provide sponsorship for this role. Applicants must be authorized to work in the United States without the need for current or future sponsorship.

Responsibilities

• Support key initiatives and projects in the insurance and claims programs of Enterprise Risk; requiring the ability to balance priorities and compel due diligence without authority across the entirety of Navy Federal Credit Union.

• Meet all deadlines for insurance renewals and approvals as planned.

• Oversee relevant claims processing and be able to assess and convey material losses to support coverage decision-making.

• Leverage multiple measures of data to inform decision-making and inform the development of development of data models for fit, in collaboration with the business and ER Insurance and Claims team to ensure right-sized coverage for organizational risk posture.

• Communicate enterprise risk factors and losses to enable effective underwriting operations and decisions in a fashion suitable for the highest levels of the organization in the production of artifacts and in multiple modes of presentation.

• Collaborate closely both vertically and horizontally across business units in identifying options for risk mitigation based on their dynamic priorities for risk transfer strategy while working within an inherent and residual risk decision framework.

• Identify key inputs, monitor trends and leading indicators, and analyze data to lead concurrent priorities in support of the Strategic Initiatives and Projects, Insurance Renewals and Requests, and Claims and Dispute programmatic needs.

• Educate stakeholders about insurance and determine areas that would benefit from the use of insurance as a risk mitigation approach and in alignment with NFCU strategy.

• Evaluate insurance coverages and/or operational processes for program efficacy and optimization. Identify opportunities in coverages, claims, and business processes to improve insurance program efficiency, processes, automation/scaling, and reporting of value delivery to strengthen ER and the enterprise.

• Create and maintain timely deliverables to track, monitor, present, and report on insurance portfolio controls and artifacts for business and audit purposes.

• Promote a culture of risk and insurance literacy through risk awareness, insurance education, and proactive risk management throughout the organization.

• Use lean and agile methods to maintain timely portfolio updates and in accordance with regulatory and industry standards.

Qualifications

• Bachelor's degree (or higher) in Business Administration, Information Technology, or a related field or equivalent combination of training, education and experience.

• Minimum of 5-7 years (or more) hands-on experience in risk, operations, controls, and financial services in key areas such as underwriting, operations, controls, optimization, the use of data in decision making.

• Expertise across different business unit operations and the ability to speak to operational inherent and residual risk for decision-makers to facilitate decision-making and requirements elicitation.

• Ability to identify continuous areas of improvement, relentless prioritization to meet deadlines, and cross-training to support cross-function team efforts.

• Identify key inputs, monitor trends and leading indicators, and analyze data as you lead concurrent insurance renewals and acquisitions.

• Advising and consultation experience in risk transfer across several business areas at once in a complex governance organization.

• Experience in responding to compliance and regulatory requests and verification and validation with appropriate business stakeholders.

• Excellent analytical, problem-solving, risk management, documentation, and decision-making skills.

• Strong interpersonal and communication skills, with the ability to convey complex risk concepts and regulatory requirements to non-technical stakeholders.

Desired Qualifications

• Aptitude for development of new approaches, use of artificial intelligence, analytics, and continuous learning to build maturity for the business and a strong team player that is intrinsically motivated and able to work independently when needed (with support).

• Navy Federal Credit Union and/or Financial Services experience preferred.

• Experience in translating strategic goals into tactical outcomes with the ability to articulate the value to Navy Federal and our members.

• Relevant certifications (e.g., Certified Risk & Information Systems Control (CRISC); Certified Risk Manager - RIMS-CRMP; Associate or Fellow designation training - Life Management Institute; Lean Six Sigma, NAFCU Certified Risk Manager-NCRM, Business Analysis training and proficiency in industry nomenclature).

Additional Information

Hours:

• Monday - Friday, 8:00AM - 4:30PM or 8:30AM - 5:00PM

Location:

• 820 Follin Lane, Vienna, VA 22180

• 5510 Heritage Oaks Drive, Pensacola, FL 32526

• 141 Security Drive, Winchester, VA 22602

About Us