PenFed Credit Union
- Associate, Finance Rotational Program
At a glance
Location: US-VA-McLean Map
Posted: 01/01/2022
Closing: 01/31/2022
Degree: 4 Year Degree
Type: Full-Time
Experience: Not Specified
Job description

Are you looking to take your career from good to great? As an employee of PenFed, every day is an opportunity to thrive, and be part of a team working to ensure our organization is providing world class service to our members, employees, and our communities. We exist to help our members realize their full potential, educate and encourage their dreams, and make every effort to follow our mission and help our members “do better.” Joining PenFed is more than being an employee; it’s about being a part of the PenFed family. 

PenFed is hiring a Financial Rotational Program Associate at our McLean, Virginia location. The primary purpose of this role is to develop a strong foundational understanding of the various areas within Finance. The incumbent will have regular access to senior level management, partner with other business units across the entire credit union, and ultimately help PenFed reach its goals.  The FRP consists of four 6-month rotations, beginning late May of 2022. These rotations will take place within our Accounting, Finance Risk Management & Treasury, Finance Transformation & Strategy, and Capital Markets business units.


Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. This is not intended to be an all-inclusive list of job duties and the position will perform other duties as assigned. 



  • Assist in the preparation of monthly, quarterly, and annual internal and external reports related to financial statements (e.g., board reports, NCUA call report, annual report) and assist with ensuring compliance of such financial statements with management standards, Generally Accepted Accounting Principles (GAAP), and regulatory requirements. 
  • Duties may include preparation of journal entries, performing account reconciliations, and creating schedules in support of research and analysis.

Finance Risk Management & Treasury 

  • Support the Treasury Team in the areas of investments, funding, derivatives, asset liability management & valuation, interest rate risk modeling and operations.
  • Assist with the execution of the treasury’s daily activities, generate reports, perform ad hoc projects and have the opportunity to make recommendations to senior level management on market opportunities and operational improvements.
  • Support the credit union’s financial risk management activities including income forecasting and modeling, capital stress testing, and quantitative model implementation.

Finance Transformation, Strategy, & Enterprise Program Management (EPMO):

  • Support the execution of the Finance Transformation program roadmap consisting of cross-functional activities and projects, and drive execution milestone deliverables with adherence to budget and business measures.
  • Partner with the Finance Strategy Team by developing communications and actionable advice for finance leadership through data analysis, industry research, cross-functional team engagement, and development of presentations.
  • Assist the Enterprise Program Management Office (EPMO) efforts to evolve PenFed’s EPMO capabilities, including the development of project and portfolio management tools, processes, dashboards, and frameworks.

Capital Markets: 

  • Support the Capital Markets Team in the execution of securitization, loan sale, and loan purchase activities including but not limited to loan selections, cash flow analysis, due diligence, investor reporting, and monitoring of securitization markets.


Equivalent combination of education and experience is considered.

  • Bachelor’s or Master’s degree in Accounting, Finance, related field or the equivalent combination of training, education, and experience is required
  • Intermediate research, analytical, and problem-solving skills
  • Excellent verbal and written communication skills
  • Strong presentation skills
  • Ability to work independently and in a team environment
  • Some experience working with large datasets and knowledge of various data analysis software packages and tools (e.g., MS-Excel, SQL, Hyperion, PeopleSoft ERP) is strongly preferred

Supervisory Responsibility

This position will not directly supervise employees 


Licenses and Certifications

There are no additional certifications required.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

*Most roles require working in an office setting with moderate noise and the ability to lift 25 pounds.*



Travel is not required


Special Message Regarding COVID 19 

PenFed is continuing to hire and train exceptional individuals to help us serve our 2 million members both here and around the world.  In light of the current situation with novel coronavirus (COVID-19), we have modified our hiring, onboarding, training, and deployment protocols in order to comply with current local and state guidance around social distancing. 

About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2 million members and over $26 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico and Okinawa. We are federally insured by NCUA and we are an Equal Housing Lender. We are available to members worldwide, via the web, seven days a week, twenty-four hours a day. 


We provide our employees with a lucrative benefits package including robust medical, dental and vision plan options, plenty of paid time off, 401k with employer match, on-site fitness facilities at our larger locations, and more. 


Equal Employment Opportunity 

PenFed management will maintain and observe personnel policies which will not discriminate or permit harassment or retaliation against a person because of race, color, creed, age, sex, gender, gender identity, gender expression, religion, national origin, ancestry, marital status, military or veteran status or obligation, the presence of a physical and/or mental disability or medical condition, genetic information, sexual orientation, and all statuses protected by applicable state or local law in all recruiting, hiring, training, compensation, overtime, position classifications, work assignments, facilities, promotions, transfers, employee treatment, and in all other terms and conditions of employment. PenFed will also prohibit retaliation against individuals for raising a complaint of discrimination or harassment or participating in an investigation of same. 


PenFed will also reasonably accommodate qualified individuals with a disability so that they can apply for a job or perform the essential functions of a job unless doing so causes a direct threat to these individuals or others in the workplace and the threat cannot be eliminated by reasonable accommodation or if the accommodation creates an undue hardship to PenFed. Contact human resources (HR) with any questions or requests for accommodation at 240-224-4256. 


Associate, Finance Rotational Program