PenFed Credit Union
Senior Product Manager, Credit Cards
At a glance
Location: US-VA-McLean Map
Posted: 08/30/2021
Closing: 09/29/2021
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 Senior Product Manager, Credit Cards at our Tysons, Virginia location. The primary purpose of this job is to help drive cards engagement strategy, in support of effective portfolio growth, engagement, and profitability. The incumbent will coordinate across stakeholders including Marketing, Decision Science/Analytics, Risk Management, Member Services, Operations, IT, Legal, Compliance, and external agencies/partners/vendors. This position requires a strong credit card/payments experience, plus a strategic and analytical background, which brings problem solving skills and broad innovative thinking to provide key insights directed at profitable credit card portfolio expansion and profitability.


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. 

  • Lead cards strategy on existing cardmember engagement, to drive spend, balance growth, and improved profitability. Collaborate with Marketing, Analytics, and Risk Management.
  • Spearhead spend and balance retention efforts to ensure portfolio engagement and maximize on Cards profitability. Identify opportunities within cards portfolio. Provide recommendations to optimize engagement and evolve remedial strategies, through business analysis of customers behavioral patterns and demographics, credit risk attributes, and other internal/external data elements.
  • Manage comprehensive market intelligence/benchmarking/insights, with respect to consumer credit card products, value propositions, rewards and loyalty schemes, market and industry trends, new products/payment innovations and technology advancements. Maintain industry documentation, analysis, and competitive reporting.
  • Assist with recommendations on enhancements to cards value proposition, new products conceptualization, new features and functionalities, benefit mix, and rewards/loyalty optimization, to ensure competitiveness in the market. Collaborate cross-functionality on execution of needed initiatives.
  • Lead market research efforts, uncover opportunities, and present findings to leadership and cross-functional areas, as appropriate. 
  • Work with Marketing, Decision Science/Analytics, Risk, Member Services, Operations, IT, Legal, Compliance, and external agencies, partners, vendors, and service providers.

*This role is responsible for ensuring business continuity.*


Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in Economics, Business Administration, Marketing, Decision Science, Mathematics, Statistics, Finance, Engineering, or a related field is required. Master’s Degree in a quantitative or a related field is preferred.
  • Minimum of ten (10) years of working experience in credit card industry is required.
  • Minimum of seven (7) years of working experience relating to credit card marketing, analytics, market research, or credit risk portfolio management are required. Such experience includes but is not limited to portfolio performance evaluation, new product development, CRM/retention, and industry/competitive benchmarking within a financial services environment.
  • Proven project management and executive presentation skills are required.
  • Hands-on skills in SAS, SQL, Tableau, Excel, PowerPoint, and proficiency working with large dataset are desired.
  • Knowledge of statistical analysis, including A/B testing, linear regression, and time series forecasting are desired.

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.


Senior Product Manager, Credit Cards