PenFed Credit Union
Commercial Credit Risk Management Director
At a glance
Location: US-VA-McLean Map
Posted: 04/04/2021
Closing: 05/03/2021
Degree: 4 Year Degree
Type: Full-Time
Experience: Not Specified
PenFed Credit Union
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 Director, Commercial Credit Risk Management at our McLean, Virginia location.The primary purpose of this position is to  play a critical role in enhancing credit risk strategy and management ecosystem to enable sustainable and resilient Commercial business growth. This position will also contribute to setting up long-term Credit Risk Management vision and strategic agenda for Credit Risk team.

 

This role will be part of the Credit Risk Management organization, operating in a high-profile and organizationally flat environment. This role serves as the second line of defense Credit Officer for PenFed’s commercial lending business. The Credit Officer will partner with and credibly challenge Commercial business team on credit approval process and portfolio management activities for commercial lending portfolio and is expected to closely monitor and develop a forward-looking view of portfolio performance.



Responsibilities

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. 

  • Review Commercial lending policies and underwriting standards. Develop second line credit risk management policies, procedures, oversight and governance protocols in partnership with Commercial Lending business.
  • Conduct independent assessment and provide effective challenge for commercial lending transaction credit approval:
  • Review Credit Approval Memos, identify key risk factors associated with the transaction,
    and approve a credit structure appropriate for the risk profile of the Borrower.
  • Evaluate input and output of cash flow/financial ratios projection based on key value drivers and sensitized assumptions. Ensure risk rating is appropriate and represents forward-looking view.
  • Ensure all credit exposures and deal renewals/amendments are approved in accordance with underwriting standards and established credit risk appetite/concentration limits.
  • Evaluate and identify opportunities in Commercial lending risk rating (Obligor and Facility dual risk rating), problem loan review and identification systems in order to ensure systems are accurate, timely and serve as effective early warning tools and support risk-based pricing, the ALLL, and capital allocations.
  • Assist with defining commercial lending Credit Risk Appetite / Tolerance limits, including transaction and portfolio level risk tolerance limit as well as aggregate & subcategory concentration limits.
  • Monitor credit quality of commercial lending portfolio on the ongoing basis to prevent or ameliorate commercial loan losses. Conduct Structured Credit Risk Assessment on Commercial lending portfolio.
  • Perform credit deep dive and identify deteriorating credits and recommend appropriate action to mitigate risk. Develop a well-informed and forward-looking view of the business and the expected volatility of the cash flow and collateral being financed.
  • Prepare management / Board reporting package and provide insights on root causes, emerging credit trends and implications on Allowance for Loan Losses.
  • Provide independent oversight to business line’s commercial lending portfolio management and loan administration activities including Annual Review exercise. Ensure annual reviews are well documented and risk ratings are accurate and are based on a forward-looking view.
  • Attend and present at Credit Risk Committee.  Report results and issues via presentation and in writing to executive management and internal credit and risk senior executives.
  • Provide ongoing or ad-hoc risk analytics to support credit or new product expansion. Oversee credit aspects of onboarding of acquired portfolios and product launch. Act as a strategic and trusted partner with the Line of Business as they evaluate new asset classes/products.
  • Work closely with internal enterprise data team and external vendor to ensure accuracy of commercial lending credit data. Identify required data elements and work with data stewards to understand data sources and ensure data quality.
  • Collaborate with the Business as a Subject Matter Expert on regulatory and/or compliance requirements. Maintain strong working knowledge of commercial lending related regulations to ensure compliance. Remain abreast of financial regulatory developments in credit risk management and best practices within the industry.
  • Partner with key stakeholders in various groups (Business Lines, Compliance, Operations, Finance/Credit Risk Modeling, and Enterprise Risk Management) to identify areas of opportunity and spearhead initiatives in order to enable profitable growth while minimizing credit risk exposure and adapting to changing economic and regulatory environment.



Qualifications

Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in Business, Economics, Quantitative Discipline or Equivalent, Finance is required.  MBA or Master’s Degree in the related field is highly preferred.
  • Minimum of twelve (12) years’ relevant experience with eight (8) years’ of commercial lending, credit risk management or other credit intensive experience in commercial banking.
  • Minimum of five (5) years’ of direct management experience.
  • Experience in building support to gain acceptance and buy-in on credit decisions in a collaborative environment. Ability to partner across business lines and work with the lending and underwriting teams. Ability to provide business leadership and partnering skills to help drive the organization towards critical decisions and deliverable results.
  • In-depth understanding of the inherent risk drivers, the intricacies of asset backed and cash flow lending, historical and potential future performance volatility of commercial lending business.
  • Ability to proactively anticipate and advise changes in risk sentiments into our lending practices.
  • Excellent written, verbal communication and presentation skills. Demonstrate strong clear thinking and succinct delivery of message. Ability to explain complex topics simply to a wide variety of audiences.
  • Exhibit sound judgment in decision making and be an inclusive and collaborative partner with the first line / business.
  • Self-motivated and strong interpersonal skills in order to actively lead and implement ideas in a cross-functional team environment.
  • Proven project management skills, ability to manage multiple projects.
  • Proficiency in MS Word, MS PowerPoint, and MS Excel. 

Supervisory Responsibility

This position will 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

Ability to travel to various worksites and be on-call may be 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.

Commercial Credit Risk Management Director