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PenFed Credit Union Director, Investment Portfolio in McLean, Virginia


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 Investment Portfolio Director at our McLean, Virginia location. The primary purpose of this job is to actively manage all aspects of investment portfolios, performing advanced economic/fixed income research and executing trades. The incumbent will represent the management in interacting with auditors and regulators.


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.

  • Develop and update fixed income investment strategies and tactics based on economic forecasts, rate/spread trends, relative sector performance and regulatory changes. Deliver PenFed’s fixed income volume and profitability targets while staying within the boundaries of PenFed’s liquidity and ALM objectives.

  • Source, analyze, trade and monitor individual securities by sectors.

  • Monitor portfolio performance and identify needs for restructuring and rebalancing.

  • Manage PenFed’s alternative investments via insurance or other stable value products.

  • Produce weekly economic update to the CFO and monthly economic review for the ALCO. Generate other research and analytical reports; assemble spreadsheets; and develop charts and graphs to illustrate technical trends and points.

  • Review and approve month-end pricing and portfolio performance reports.

  • Prepare and present portfolio analyses and recommendations to ALCO.

  • Maintain broker/dealer relationships to ensure proper coverage and best execution.

  • Oversee annual broker/dealer due diligence process.

  • Develop and ensure appropriate compliance with all policies and procedures governing the activities of the Front office including compliance with regulatory and board limits.

  • Monitor regulations and identify if changes in board policy and management policies and procedures are needed.

  • Meet with auditors and regulators as a subject matter expert of PenFed’s investment portfolios.


Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in accounting, economics, finance, statistics or related field required.

  • Master’s Degree in accounting, economics, finance, statistics or MBA preferred.

  • Minimum of twelve (12) years’ experience in Investments and Portfolio Management, Treasury and/or related fields.

  • Minimum of five (5) years of direct management experience.

Supervisory Responsibility

This position will directly supervise employees

Licenses and Certifications

Chartered Financial Analyst (CFA) highly preferred.

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 COVID-19, we have modified our hiring, onboarding, training, and deployment protocols in order to comply with applicable current local and state guidance.

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.