PenFed Credit Union
Director, Consumer Insurance Products
At a glance
Location: US-TX-Dallas Map
Posted: 06/30/2021
Closing: 07/29/2021
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, Consumer Insurance Products at our Tysons, Virginia location. The primary purpose of this job is to manage P&L of the consumer insurance products including but not limited to product development, digital transformation, marketing, and end-to-end operations. The incumbent will lead cross-functional teams to build out existing products as well as providing oversight and guidance to management and stakeholders. These products include but are not limited to GAP, Extended Warranty, Variable Debt Protection Products and Variable Auto Protection Products, and will drive profitable volume, conversion, product development and growth and enhancement of the products through the full lifecycle.



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.

 

  • Responsible for the growth, pricing and profitably of Consumer Banking Insurance Products.
  • Identify potential and benefits of Insurance programs to expand originations and commensurate level of effort, operations and costs necessary to dominate the channel.
  • Manage continual Product Roadmap evaluation to prioritize and schedule. Coordinate release schedules and communicate timing.
  • Manage Product Design through Requirements to Design to Build to Implementation to Post Launch Evaluation.
  • Lead assigned staff and cross-functional teams by providing strategic, product, and portfolio subject matter expertise to develop and deliver new Loan Programs and Features to meet member needs.
  • Vendor Management of key vendors involved in origination, underwriting, insuring, and servicing the portfolio. This includes assessment and selection of Origination Partners, Third Party and API requirements for the fulfillment of applications, decisioning, collateralization, funding onboarding and servicing.
  • Seek consumer insights and identify unmet consumer needs related to products and features. Responsible for user experience with Insurance Products.
  • Manage and monitor current business process and recommend areas for improvement while resolving business problems in a timely manner based on project timelines and priority.
  • Track and understand market trends, including industry, competitive, and technology trends related to products and features, and clearly articulate findings and observations and make recommendations as appropriate.
  • Manage the sales line, volume, profitability and marketing planning for insurance products across all product lines.
  • Provide summaries to executives of team activities including discussing industry trends, market impact of competitors, and recommendations to improve lending penetration.
  • Ensure teams maintain new partner relationships by providing support, information and guidance.
  • Effectively communicates pertinent changes and accurate lending program information to internal/external business partners.
  • Develop and present client-facing and internal reports outlining growth/penetration opportunities on a monthly, quarterly and yearly basis. 
  • Write, oversee and edit promotional materials; oversee the management of all PenFed brand-related activities with the client, while seamlessly partnering with Marketing.
  •  Work with legal and compliance to ensure compliance with TPRM, legal and contract process.
  • Maintains a sound understanding of Credit Union’s indirect lending programs. Ensure that related programs, policies and procedures conform to regulatory agencies and Federal and State regulations, standards, and guidelines, pertaining but not limited to Bank Secrecy Act, Anti-Money Laundering, Bank Bribery Act, NCUA Privacy Regulations, Reg B, Reg Z, Service Members Civil Relief, and FCRA/FACTA. Required to attend initial and ongoing annual Bank Secrecy Act.



Qualifications

Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in Business or a related field is required.
  • Master’s Degree in a related field is preferred.
  • Minimum of twelve (12) years of experience in Consumer Banking, Auto Lending or Product Development is required.
  • At least five (5) years of management experience.
  • Proven success in managing an annual sales line of greater than $500 million.
  • Track record of managing successful strategic initiatives in a high growth market with large companies in the automotive space.

Supervisory Responsibility

  • This position will supervise employees.

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 is 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, Consumer Insurance Products