The Principal, Security Governance & Risk Management (BSA/AML/OFAC Risk Advisor) supports Navy Federal Credit Union’s (NFCU) Security Division in effectively managing the Enterprise’s risks with a focus on Bank Secrecy Act (BSA), Anti-Money Laundering (AML) and Office of Foreign Assets Control (OFAC) compliance programs.

This position will be responsible for the strategy, management, and the overall execution of first line of defense security risk management and governance remediation activities at the enterprise. This role will collaborate with first line risk programs and at times senior leaders across the enterprise to identify, mitigate and manage risks. Uses extensive industry and real-world experience to lead security governance and risk in remediation of issues identified across the enterprise, developing pragmatic solutions to address gaps in line with established risk appetites. Ensure security governance and risk management activities align with strategic business initiatives, achieve business and quality objectives, mitigate risk, and enhance operating procedures. Promote operational efficiency and service excellence through appropriate risk controls, process improvements and training while reducing and mitigating financial losses.

Responsibilities

• Lead annual risk assessments of the BSA, AML, and OFAC Compliance Programs. Perform other related risk assessments as deemed applicable based upon the risk profile of the organization.
• Serve as the primary risk advisor to the BSA/AML & OFAC Compliance leadership.
• Drive Issue Management remediation for BSA/AML & OFAC risks.
• Participate in special projects, councils, working groups, etc. as a BSA/AML & OFAC Risk SME
• Translate control deficiencies into action plans and provide recommendations to enhance. governance practices in alignment with risk and compliance frameworks.
• Maintain an up-to-date knowledge and level of expertise in relevant laws and regulations.
• Monitor and advise on emerging regulatory changes and trends in BSA/AML & OFAC compliance.

Qualifications

• Expert hands-on experience of BSA/AML & OFAC compliance at a financial institution. Prior knowledge and hands on experience of BSA/AML& OFAC laws, regulations, and applicable rules.
• Hands-on experience audit, leading risk, and/or compliance related activities in financial services or other relevant industry, especially Operational Risk Programs. Preference for a focus on BSA/AML & OFAC.
• Extensive knowledge of banking regulatory requirements with a focus on BSA/AML & OFAC and a general knowledge of credit union or bank policies and procedures.
• Advanced research, analytical, and problem-solving skills.
• Advanced skill building effective relationships with all levels of staff, management, stakeholders, and vendors, through rapport, trust, diplomacy, and tact.
• Advanced verbal, written, interpersonal, and presentation skills to communicate clearly and concisely technical and non-technical information to all levels of management and a strong EQ.
• Effective skill to influence, negotiate and persuade to reach agreeable exchange and positive outcomes.
• Advanced skill exercising initiative and using good judgment to make sound decisions.
• Strong presentation writing and creation skills (advanced Microsoft PowerPoint).
• Highly independent, organized, and able to work autonomously in a fast-paced and time sensitive setting to produce accurate and compelling reports.

Desired Qualifications

• Advanced degree in Business Administration, Finance, Law or related field, or the equivalent combination of education, training, and experience.
• Prior experience performing risk assessments, examinations, controls testing, or audits of BSA/AML & OFAC compliance programs
• Experience developing or maintaining BSA/AML & OFAC compliance procedures.
• Professional certifications or designations (e.g., CFE, ACAMS, CRCM, NCCO)

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

Location: 820 Follin Lane, Vienna, VA 22180 | 5550 Heritage Oaks Dr. Pensacola, FL 32526 | 141 Security Dr. Winchester, VA 22602 | Remote

Navy Federal is now hybrid! Our standard enterprise requirement for a hybrid schedule is to report on-site 4-16 days each month. The number of days reporting on-site will ultimately be determined by the employee's leadership and business unit needs. You will learn more throughout the hiring and on boarding process.

Salary Range: $116,200 - $213,000 annually

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.

Posting End Date: 05/26/2023

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.