PenFed Credit Union
Manager, ALM Development
At a glance
Location: US-VA-McLean Map
Posted: 02/18/2021
Closing: 03/17/2021
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 Manager, ALM Development at our Tysons, Virginia location. The primary purpose of this job is to lead a team responsible for the management, oversight, and delivery of the credit union’s QRM (Quantitative Risk Management) applications. This include the processes and assumptions necessary for effective asset/liability management, income forecasting, capital planning & stress testing, funds transfer pricing, liquidity risk management, and mortgage servicing rights (MSR) valuation.  The incumbent will employ experience, judgment, and problem-solving ability to accomplish goals.



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. 

  • Facilitates the efficient execution and continued development of interest rate risk modeling, income forecasting, FTP, liquidity risk, MSR valuation, and capital planning & stress testing within the credit union’s QRM infrastructure.
  • Coordinate the implementation of behavioral and credit loss forecasting models into the QRM framework to support loan volume, credit loss, prepayment/attrition, and pricing activities in support of capital sensitivity analysis and income forecasting.
  • Test and implement new QRM functionality that will add value for the Balance Sheet Management and Financial Planning teams.  Work closely with forecasters, modelers, and business units to continue improving QRM modeling approaches/assumptions to provide an integrated framework for risk management.
  • Maintain technical relationships with other units/departments involved in the modeling effort for PPNR, credit risk forecasting, and ALLL models, including data requirements, model quality, and timely delivery of models to be implemented within the QRM framework.
  • Maintain extensive knowledge of modeling requirements for existing and emerging PenFed financial products.  Coordinate any necessary data requirements with the Finance data team.
  • Prepare and maintain high-quality process and model change documentation that satisfies internal model risk policies, audit requirements, and corporate governance.



Qualifications

Education and Experience

Equivalent combination of education and experience is considered.

  • Advanced degree in a quantitative subject, such as Economics or Finance; CFA certification, or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the job. 
  • Minimum of eight (8) years’ experience working with advanced econometric, statistical, and/or forecasting tools using ALM, FTP, CCAR, liquidity and other financial risk management models, including extensive understanding of retail lending.
  • Minimum three (3) years QRM Balance Sheet Management system experience; strong familiarity with QRM forecasting capabilities and the integration of externally developed models into the QRM framework is preferred.
  • Minimum three to five (3-5) years’ experience as an Assistant Manager/Supervisor
  • Extensive understanding of cashflow modeling across retail lending and funding programs such as auto, mortgage, credit cards, and student loans, as well as demand and time deposits
  • Generalized, working understanding of SQL or similar data query competencies.

Supervisory Responsibility

This position will directly 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 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.

Manager, ALM Development