Senior Financial Forecasting Analyst
PenFed Credit Union is hiring a Senior Financial Forecasting Analyst in Tysons, Virginia. The primary purpose of this job is to forecast interest income, interest expense and generate other income/expense projections for the credit union and measure actual performance against forecasts. This position will produce regular management and executive management financial analysis and what-if income forecasts and will actively participate in the development of the institution’s financial goals and product development strategies.
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.
- Prepare accurate, timely, and reliable income forecasting measurements, projections, statistics, and ratios using the QRM Risk Framework in support of a comprehensive financial forecasting process.
- Responsible for the data and assumption loading, reconciliation, and validation processes in QRM used in support of the income forecasting functions of the credit union.
- Manage the production of multiple financial forecasts and what-if income sensitivity analyses; participates in identifying and developing analysis that focus management’s attention on the most significant elements of risks to earnings in the financial forecasts.
- Participate in the development and deployment of new loan/share origination volumes and rate forecasts for interest-earning asset and interest-bearing share products within the QRM Framework; effectively works with the business line areas of the credit union to incorporate forecasted volumes/rates into strategic operating plan and financial forecasts.
- Analyze actual corporate and product-level performance against forecasted results, management objectives/goals/limits, and effectively presents and explains results to senior management.
- Support the the integration and deployment of robust QRM financial forecasting framework capabilities including new product and dimension modeling, embedded behavioral modeling, other growth/subsidiary businesses modeling, and consistency with integrated capital planning and stress testing capabilities.
- Maintain an in depth knowledge of fixed income instruments including mortgage-related products, auto loans, credit card products, indeterminate maturity deposits, and interest rate risk measurement concepts such as market valuation, spreads, prepayments, duration, basis risk, etc.
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/FRM/CFA professional certification preferred.
- Minimum of four (4) years of progressively responsible work experience using sophisticated asset/liability management software and/or developing statistical models forecasting uncertain cash flows for risk measurement. QRM Balance Sheet Management experience is required
- Knowledge of database design and Structured Query Language (SQL) desired. Strong skills in various data analysis and visualization tools including SQL, Tableau, Excel and PowerPoint are preferred.
- Ability to apply an analytical mindset to understand problems and propose actionable solutions supporting strategic business decisions.
- Ability to manage multiple projects simultaneously and implement rapid changes in project direction.
- Excellent oral and written communication skills; proven interpersonal and organizational skills.
This position will not supervise employees.
Licenses and Certifications
- There are no additional certifications required.
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.
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.8 million members and over $25 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. 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.
Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.
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 571-341-6572.