Job Information
PenFed Credit Union (Hybrid) Vice President, Commercial Real Estate 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) Vice President, Commercial Real Estate at our Tysons, Virginia location. The primary purpose of this role is to provide leadership to the development and growth of the Commercial/Member Business Loan (MBL) program at PenFed that includes organic originations, participations, and syndications. This position will partner with internal stakeholders including but not limited to Relationship Managers, Treasury, BSA, Risk, Legal teams and external stakeholders (partnering financial institutions) in the processing and decision of commercial real estate loan transactions. This position will also ensure that the loans are underwritten to comply with policy and are appropriately mitigated.
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.
Play a key role in supporting the Commercial Real Estate lending business. Conduct loan and portfolio reviews, policy updates, procedure enhancements and risk reporting.
Maintain and grow client relationships with agent banks and borrowers.
Lead negotiations and complete necessary analysis and documentation to complete credit actions related to the existing CRE portfolio and any new originations, formulating mitigated risk recommendations.
Proactively monitor loan performance including payments, escrow accounts, covenant tests, and metrics identifying and effectively communicating potential risks.
Perform annual and quarterly reviews for the existing portfolio including borrower analysis, investment performance, covenant testing, risk ratings, and stress testing analysis.
Track and analyze the performance of the underlying properties and provide ongoing property valuations and projections through analysis of the market, property financials, rent rolls, leasing activities, and budgets.
Develop a strong understanding of the Credit Union’s commercial credit culture, credit policy, and procedures.
Create a positive work environment as an effective role model by championing PenFed’s mission, vision and values and provide leadership through developing junior team members.
Provide Subject Matter Expertise to the Allowance for the Loan Losses (ALL) and loss forecasting processes.
Help safeguard PenFed's computer and IT systems by monitoring staff adherence of all security policies and related training for individuals managed by this role. Takes appropriate action working with IT security and HR when necessary to address any security breaches.
Qualifications
Equivalent combination of education and experience is considered.
Bachelor’s degree in related field required. Master’s degree preferred.
Minimum of twelve (12) years’ of commercial real estate asset management and/or underwriting experience with a strong emphasis on advanced underwriting skills and risk analysis.
Minimum of five (5) years’ experience related experience in a Director role with direct customer exposure.
Knowledge of commercial property market trends.
Demonstrated analytical, cash flow modeling and conceptual skills, workout experience is a plus.
Strong knowledge of loan structuring with ability to balance credit union objectives and borrower expectations.
Supervisory Responsibility
This position will directly supervise employees.
Licenses and Certifications
General Lines Agent License is 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.
Travel
Ability to travel to various worksites and be on-call may be required.
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.