PenFed Credit Union
- Senior Consumer Underwriter
At a glance
Location: US-TX-San Antonio Map
Posted: 12/01/2021
Closing: 12/31/2021
Degree: 4 Year Degree
Type: Full-Time
Experience: Not Specified
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 Senior Consumer Underwriter at one of the following locations: San Antonio, Texas; Omaha, Nebraska; and Eugene, Oregon. The primary purpose of this job is to review and underwrite consumer loan applications within delegated underwriting authority in accordance with Federal regulation and PenFed Board of Director Policies, procedures, and standards.


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.   

  • Complete a thorough analysis of the loan application file to determine member’s creditworthiness for the desired product.
  • Review and evaluate loan applications and approves, pends, or declined requests to extend credit.
  • Maintain a working knowledge of the analysis and judgmental decision process for various Consumer loan products including Auto Loans, Credit Cards, and Personal Loans & Lines of Credit
  • Execute higher risk and more complex underwriting decisions as a result of higher lending authority.
  • Work as an escalation point to junior lenders for questions, concerns, and second reviews, as well as review escalations and exception requests, Underwriting exceptions within delegated authority, and referring appropriate requests to the Loan Review
  • Committee for consideration.
  • Maintains a strong, working knowledge of current and historical lending best practices and policy
  • Work with members, internal PenFed staff, and external partners to provide rationale and explanations for consumer lending decisions.
  • Interpret policies and guidelines for loan processor and other PenFed employees requiring guidance. Follow up with processors & underwriters when documentation is inaccurate due to processing errors or execution failures. Provides feedback to managers on processors abd junior underwriters performance.
  • Analyze and review documentation related to consumer loan applications with an emphasis on accuracy, legitimacy, and completeness of required documentation
  • Take part in peer mentoring and coaching activities designed to maximize staff performance; this may include training junior Consumer Underwriters and other departments on lending decisions, criteria needed for making decisions, and recognizing qualified exception requests
  • Collaborate with other departments and/or institutions to corroborate or collect information related to consumer lending decisions
  • Assist IT department with user acceptance and other systems testing.
  • Maintain a thorough understanding of state and federal laws and regulations related to credit union compliance including bank secrecy and anti-money laundering laws appropriate to the position
  • Review policies, procedures, and guidelines and makes recommendations for improvement.


Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in a related field is strongly preferred.
  • Minimum of four (4) years of experience Underwriting consumer loans required
  • Experience coaching, leading, and developing subordinates required
  • Ability to obtain Senior Lender authority with PenFed by successfully passing an advanced underwriting training course
  • Knowledge of PenFed structure, products, policies and procedures preferred. 

Supervisory Responsibility

This position will not supervise employees.


Licenses and Certifications

Must successfully complete Pentagon Federal Loan Officer Training Program.

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 will 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.



Senior Consumer Underwriter