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PenFed Credit Union Remote Director, Consumer Banking SBO 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 Remote Director, Comsumer Banking SBO at our Tysons, Virginia location. The primary purpose of this job is to direct Service by Others (SBO) consumer loan portfolio. The incumbent will be responsible for ensuring portfolio quality, compliance, collateralization where applicable, and financial and performance reporting. The Director will be an expert in third party management and will be the daily point of contact with these organizations. As a leader for the consumer banking department, the Director must produce the best experience for the members, secondary market buyers and origination partners with thorough product, accounting and compliance knowledge. The position requires matrix management of internal/external servicing teams, good organization skills, a heavy accounting background, the ability to remain focused in a fast-paced environment while managing strict deadlines, and the willingness to be an integral part of a lending team. The Director will coordinate across stakeholders including but not limited to business controls, quality control, business operations, compliance, accounting, capital markets, and legal. This position is remote and must be located within a 100 mile radius of Tysons, Virginia. The compensation for this role is $118,910-$225,007.00 The role is eligible for a Scorecard bonus 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. Direct all third-party servicing relationships for Consumer Banking. Direct loan performance tracking for all elements of the SBO portfolio (WAC, NCO, COF, contribution margin, etc. Create new reporting, monitoring and review for exceptions regarding daily payment receipts, early payments, principal only payments, reversals, recoveries, etc., Summary reporting to be presented at the executive level weekly on irregularities, anomalies and errors. Direct SBO tracking systems and work to ensure that external origination partners are properly setup if they use SBO services. Direct compliance reporting that can provide regular updates on adherence to Federal, State and NCUA regulations as well as PenFed policy and procedures Monitor Collateralization process and report on all elements of the process (securitization, processing speed, state and regional adherence, secondary market preparation, etc.,). Work to implement changes to the process where gaps are found. Monitor interest rate and price setting, ensure that rates are being applied according to policy. Establish, monitor and report on customer complaints regarding loan servicing. Create action plans from these summaries to improve user experience, communications, compliance adherence and portfolio quality. Establish, monitor and report on daily controls to complete buybacks, loan recoveries, charge offs, etc., Monitor loans in preparation of secondary market and securitization process. Ensure the quality of loan tapes that are produced for initial loan sale and that they adhere to all criteria. Ensure the communication of any exclusions or anomalies in the loan tapes. For all participation sales create new reporting and signoff for fund disbursement. Create automated processes for loan audit and member onboarding related to loan origination. Monitor insurance programs and evaluate claims process, claimant approval, claims to fund rate amongst APIs to ensure that insurance product offering, and partners are fulfilling contractual requirements and SLA’s. Manage small servicing by others team, directing them on the operations of new reporting, monitoring and review processes. Work with legal and compliance to ensure that all loan servicing contracts for inbound and outsourced servicing are aligned and able to be adhered to. Ensure teams maintain new partner relationships by providing support, info and guidance. Effectively communicates pertinent changes and accurate lending program information to internal/external business partners. Ensure that related programs, policies and procedures conform to regulatory agencies and Federal and State regulations, standards, and guidelines, pertaining but not limited to Bank Secrecy Act, Anti-Money Laundering, Bank Bribery Act, NCUA Privacy Regulations, Reg B, Reg Z, Service Members Civil Relief, and FCRA/FACTA. Required to attend initial and ongoing annual Bank Secrecy Act. Qualifications Equivalent combination of education and experience is considered. Bachelor’s Degree in Business, Accounting, or Finance is required. Master’s Degree in a related field is preferred. Minimum of twelve (12) years of experience in servicing of consumer loans. Minimum of five (5) years of direct management experience with proven experience in managing multiple locations and multiple functional teams. Knowledge and understanding of consumer products. Proven ability to excel in high-growth environment, while managing a team of operations, finance and analytical professionals. Deep mastery of core financial concepts and reporting standards. Experience with preparation of related regulatory reporting. Demonstrated ability to recruit and retain best in class talent who thrive in a fast-paced high growth environment. Track record of success maximizing the effectiveness of organizational structures and internal processes. Motivational leadership style with a penchant for leading by example, disciplined action and driving results. Ability to lead through influence with a balance of confidence and humility. Adaptable and trustworthy executive with deep integrity, a team centered orientation and a collaborative approach to problem solving. Strong sense of urgency with proven ability to effectively organize and galvanize a team to reach objectives. Ability to build strong partnerships with cross functional partners within a diverse organization. Supervisory Responsibility This position will directly supervise employees Licenses and Certifications There are no additional certifications required. 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 20% travel to various worksites is required l to various worksites is 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. #LI-CM2

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