PenFed Credit Union
Director, Capital Markets Operations
At a glance
Location: US-VA-McLean Map
Posted: 03/30/2021
Closing: 04/29/2021
Degree: Not Specified
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, Capital Markets Operations at our McLean, Virginia location. The primary purpose of this job is to be responsible for overseeing the settlement, due diligence and monthly reporting activity on loan participation sales and other activity associated with Portfolio Acquisitions, Sales, new third party relationships and securitization assistance. The incumbent will primarily oversee and monitor the loan sale settlement process, asset level due diligence, collateral marking, investor reporting and investor remittance activity for several consumer asset sale transactions. Additionally, this position will be required to coordinate with several internal teams to ensure appropriate controls and communication.


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. 

  • Lead the effort to consolidate and transfer key loan participation activity into the Capital Markets Operations division by implementing process improvements and realigning roles and responsibilities for the function.  Oversee the documentation of processes, procedures, controls, roles, and responsibilities to ensure a well-managed operation.
  • Assist in the pricing, due diligence, purchase, and sale of consumer portfolios and facilitate interactions with brokers, potential buyers in the portfolio due diligence and other operational aspects.
  • Oversee and manage the credit due diligence process for both purchase and sale of loan portfolios (both organic and purchased from third parties).
  • Lead the publication of the monthly investor reporting package and respond to any investor queries or questions related to the loan sale or securitization transactions.
  • Work with individual product, accounting, collections, credit, IT, Data, and operations teams to build the necessary infrastructure to automate the loan participation sale process.
  • Point of contact for brokers and other third-party investors for any questions on credit due diligence for portfolio sales and review of credit/underwriting/collection and servicing policies. Coordinate with third party partners (Fintechs and other institutions) and internal teams to ensure proper transfer and coding of loan data.
  • Provide support for Consumer securitization analytics and investor reporting functions for ABS securitizations done by PenFed.
  • Maintain knowledge of current industry regulation, processes and developments through publications, membership in professional organizations and contact with other financial institutions.
  • Review closing documents to ensure accurate disclosures and deal terms for loan sales and securitizations. Leverage knowledge of Securitization regulations such as Credit Risk Retention requirements, Regulation AB, investor due diligence requirements and ensure compliance with these rules and regulations for all the upcoming securitization transactions.
  • Oversight, training and mentoring two direct reports performing operational functions.


Equivalent combination of education and experience is considered.       

  • Batchelor’s degree in a business-related field.  Equivalent combination of education and experience is considered.
  • Minimum of twelve (12) years of work experience in financial services required.
  • Minimum of five (5) years of experience of management experience
  • Minimum of eight (8) years' experience in consumer lending
  • Minimum of five (5) years' experience in securitization
  • Extensive knowledge of Structured Finance securitized trust funding mechanisms including interpreting trust documentation requirements into operational policies and tools.
  • Demonstrated ability to manage complex enterprise-wide projects and end-to-end implementations that require building strong working relationships across the organization.
  • Provides leadership to managers and other junior professional associates within the team.
  • Track record of successfully executing consumer ABS securitization transactions interacting with multiple stake holders internally and externally within the organization.

Supervisory Responsibility

This position will supervise employees.


Licenses and Certifications

CTP is preferred

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.*



Ability to travel to investor locations occasionally 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.

Director, Capital Markets Operations