PenFed Credit Union
Director, Commercial Operations
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 Commercial Ops and Portfolio Management Director at our McLean, Virginia location. The primary purpose of this role is to provide leadership to the Portfolio Management, Servicing and Administration of the Commercial/Member Business Loan (MBL) program at PenFed that includes loans originated through organic, participation, and syndication channels. The incumbent will lead Portfolio Management, Loan Operations, Booking, and Servicing of the commercial loans while partnering with internal stakeholders including but not limited to Credit, Accounting, Treasury, BSA, Legal, and external stakeholders (partnering financial institutions).



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. 

  • Assume ownership for existing large and complex loan relationships, build an appropriate relationship plan, upholding credit and risk management standards including collection of  all required financial statements monthly/quarterly/annually, etc. for all applicable loans within the respective portfolio assigned.
  • Ensure the updated financials are spread and analyzed, addressing industry risks, monitoring  collateral requirements, loan structure and credit performance. Perform annual reviews, update risk ratings, and prepare watch asset reports quarterly and/or as needed.
  • Prepare and assist with portfolio metrics report and monitor ratios.
  • Maintain a list of watch loans in the Commercial Portfolio and present the watch loan status reports to the VP of Commercial Lending and VP of Credit Risk monthly/quarterly and as needed.
  • Develop and maintain relationships with the members in the assigned portfolio.
  • Provide leadership for annual property inspections and prepare property inspection reports. 
  • Monitor credit performance of relationships within the assigned portfolio – proactively working past due statuses.  Take necessary steps to collect past due. Identify potential loss mitigation scenarios; looking to minimize potential risk to the organization.
  • Handles reporting on loans such as past dues, documentation and collateral exceptions, financial performance updates, portfolio profitability, risk grades, etc.
  • Keeps informed of financial and market trends in the portfolio and analyzes those trends for the effect they will have on the portfolio. Keep current with regard to industry trends and implement proactive portfolio management tactics. 
  • Proactively manage the renewal process for loans coming up for maturity.
  • Deliver excellent communications with all internal and external business partners.
  • Performs other duties and supports special projects as needed.
  • Train and coach junior staff as applicable.
  • Collaborate with Portfolio servicing to ensure impeccable loan metrics reporting.
  • Ensure compliance with credit policy and regulatory requirements- accountable for overall portfolio management. 
  • For Underwriting matters and as needed, assist with structuring loan transactions in compliance with internal credit and program requirements and under the guidance of VP.
  • Prepare and negotiate loan proposals with borrowers and partners (business term sheets and commitment letters).
  • Manage the loan approval process from deal screening to loan approval by coordinating with credit, treasury, BSA, and Legal.
  • Assist with producing Board, Management, and Regulatory reporting for the commercial portfolio.
  • Manage portfolio servicing by coordinating with an external vendor.
  • Ensure compliance with Board policies and Regulatory requirements.
     



Qualifications

Equivalent combination of education and experience is considered.

  • Bachelor’s degree in finance, economics or related field required. Master’s degree preferred.
  • Minimum of twelve (12) years of commercial lending experience, preferably in Commercial Real Estate.
  • Minimum of five (5) years of direct management experience.
  • Argus knowledge preferred.
  • Thorough knowledge in review, analysis, and underwriting all product types related to commercial real estate loans and personal/corporate financial statements pertaining to Sponsors/Guarantors.
  • Knowledge of commercial property market trends, familiarity with point of sale systems, and various commercial policy forms such as Acord forms and coverage types.
  • Demonstrated analytical, cash flow modeling and conceptual skills, formal credit training is a plus.
  • Strong knowledge of loan structuring with ability to balance credit union objectives and borrower expectations.
  • Excellent verbal and written communication skills.

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.

Director, Commercial Operations