Job Information
PenFed Credit Union (Hybrid) Senior Director, Commercial Real Estate Administration in McLean, Virginia
Overview
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 (Hybrid) Senior Director, Commercial Real Estate Administration at our Corporate location in McLean, Virginia or our New York City location. The Sr. Director of Commercial Real Estate Lending Portfolio Administration, will be responsible for leading and overseeing all aspects of commercial real estate lending portfolio administration for a prestigious financial institution. The role will encompass managing a team of professionals, implementing efficient processes, ensuring regulatory compliance, and optimizing the performance of the commercial real estate loan portfolio. This position requires strong leadership, exceptional organizational skills, and in-depth knowledge of commercial real estate lending and portfolio administration.
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.
Lead and manage a team of portfolio administrators, loan servicing specialists, and support staff, ensuring their effective performance and professional development.
Develop and implement strategies, policies, and procedures for commercial real estate lending portfolio administration to ensure compliance with regulatory requirements, mitigate risk, and optimize portfolio performance.
Oversee the loan servicing and administration processes for commercial real estate loans, including loan setup, funding, disbursements, payments, escrow management, and documentation maintenance.
Ensure accurate and timely recording and reporting of loan data, financial transactions, and covenant compliance in the loan portfolio management system.
Collaborate with lending officers, underwriters, and credit risk management teams to ensure seamless loan origination, closing, and onboarding processes.
Monitor and manage the performance of the commercial real estate loan portfolio through a credit risk rating system, which tracks and measures mongst other things, delinquencies, maturity dates, payment defaults, and other risk indicators.
Develop and maintain relationships with borrowers, legal counsel, and third-party service providers to facilitate effective loan administration, property inspections, and appraisals.
Conduct regular audits and reviews of loan files, documentation, and data integrity to ensure adherence to internal policies, regulatory requirements, and best practices.
Stay updated on industry trends, regulatory changes, and technological advancements to recommend process improvements and enhance operational efficiency in portfolio administration.
Prepare and present reports and updates for senior management to present to the board on the nature and level of risk in the commercial loan portfolio, including its potential impact on the institution’s earnings and net worth.
Design and implement risk management processes and controls necessary to safely conduct commercial lending.
Qualifications
Equivalent combination of education and experience is considered.
Bachelor's degree in Finance, Business Administration, or related field. MBA preferred.
12 years business experience, a minimum of 5 years management experience and at least 8 in commercial real estate lending portfolio administration, preferably within a financial institution.
Strong knowledge of commercial real estate lending practices, loan documentation, loan servicing, loan workouts and portfolio administration.
In-depth understanding of regulatory compliance requirements related to commercial real estate lending, including but not limited to RESPA, TILA, and Dodd-Frank Act.
Excellent leadership and people management skills, with the ability to motivate and guide a team towards achieving organizational goals.
Proficiency in loan portfolio management systems, loan servicing software, and Microsoft Office Suite.
Strong analytical and problem-solving skills, with the ability to identify and address operational inefficiencies and mitigate risks.
Exceptional attention to detail and organizational skills to handle multiple tasks and meet deadlines in a fast-paced environment.
Excellent communication and interpersonal skills to collaborate with internal stakeholders, borrowers, and external service providers.
Professional certifications such as CRCM, CAMS, or similar are highly desirable.
Supervisory Responsibility
May grow over time.
Licenses and Certifications
Professional certifications such as CRCM, CAMS, or similar are highly desirable.
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.
Compensation Information
The anticipated salary range for this role is $133,600 - $277,500
This position is eligible for the organization’s annual Balanced Scorecard bonus subject to board discretion and approval
This position is also eligible for the opportunity for an annual Pay for Performance bonus
About Us
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2.8 million members and over $36 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 OpportunityPenFed 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 402-639-8568.