PenFed Credit Union
Director Forecasting and Planning
At a glance
Location: US-VA-McLean Map
Posted: 02/13/2021
Closing: 03/12/2021
Degree: Graduate 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, Forecasting and Planning at our Tysons, Virginia location. The primary purpose of this role is to direct the income forecasting and budgeting functions of the credit union. The incumbent is responsible for the production of regular management and executive management financial analysis, income forecasts, and budget variance analysis & tracking reporting.


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 developing and managing a comprehensive financial forecasting process using the QRM Risk Framework (QRM) that analyzes corporate performance against management objectives and goals.
  • Responsible for the preparation of the annual budget, quarterly reforecast and monthly estimate process including the projection of interest income and interest expense; effectively works with all the functional areas of the credit union in the compilation of general ledger/cost center level expenses and other income revenues.
  • Provides guidance based on forecasts for the development of funding & liquidity planning, investments, and balance sheet strategies in collaboration with the Balance Sheet management group and the Treasury department.
  • Lead Hyperion Cloud Migration projects and provide guidance on the workforce module design.
  • Actively participates in the development of the institution’s financial goals and scorecard.
  • Provide clear and insightful analysis, feedback and interpretation of forecasting and budgeting results by way of written and/or oral reports to business units, Asset/Liability Committee (ALCO), Executive Management, and the Board.  
  • Identifies and develops studies that focus management’s attention on the most significant elements of risks to earnings in the financial forecasts including evaluating the impact of credit loss modeling within the forecasting process and formulating product strategy recommendations to enhance earnings in accordance with PenFed’s risk appetite.
  • Maintain an in-depth knowledge of fixed income instruments including mortgage-related products, credit card products, indeterminate maturity deposits, and interest rate risk measurement concepts such as market valuation, spreads, prepayments, duration, basis risk, etc.
  • Provide senior leadership to the department by attracting, developing, and retaining key talent, maintaining awareness of the credit union’s new product and services development initiatives, and remaining abreast of regulatory developments and generally accepted accounting principle (GAAP) pronouncements that impact PenFed’s risk and return profile.


Education and Experience

Equivalent combination of education and experience is considered.

  • Advanced degree in finance, economics, mathematics, or another quantitative discipline and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions. MBA or CFA professional certification required.
  • Minimum of twelve (12) years of experience using sophisticated asset/liability risk management software and/or developing statistical models for forecasting uncertain cash flows in the areas of market risk, capital markets, and balance sheet management in a financial institution;
  • QRM Risk Framework experience required, with five (5) years’ direct management experience.
  • Experience with Hyperion planning tools is required.
  • Ability to manage multiple projects simultaneously and implement rapid changes in project direction.
  • Excellent oral and written communication skills.
  • Ability to condense highly technical subject matter into clear and effective communications to Senior Management.
  • Proven interpersonal and organizational skills.

Supervisory Responsibility

This position will directly supervise employees


Licenses and Certifications

  • CFA professional certification 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 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 Forecasting and Planning