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PenFed Credit Union Director, Quantitative Risk Management in San Antonio, Texas

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 Director, Quantitative Risk Management at one of the following locations: Tysons, Virginia or San Antonio, Texas location. The purpose of this role is to serve as the independent second line quantitative credit risk management to support loss forecasting, CECL, risk appetite framework, capital planning/allocation and concentration limits setting, enhancing collections strategy & analytics, reporting and strategy implementation. This position plays a critical role in maturing PenFed’s adoption of advanced quantitative risk capabilities to quantify and manage risks effectively. This position will also contribute to strengthening PenFed’s Model Risk Management (MRM) practice and oversight to ensure safety and soundness.

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.

  • Develop quarterly forecasts as well as monthly credit loss forecast outlooks and on-going interactions with various internal/ external constituents.

  • Provide oversight, policy adherence/exception reviews of relevant Corporate and Consumer & Real Estate Policies for Collections and Credit Operations

  • Partner with Collections Operations, Business Product & Risk Teams, and Control Partners to improve the efficiency of credit and collections processes.

  • As part of the Chief Credit Office, execute oversight processes in order to enhance governance that result in achieving/exceeding heightened expectations for the functional areas of collections, credit initiation and existing customer management in coordination with product specialists.

  • Adopt industry best practice solutions to conduct quantitative modeling on portfolio credit risk including default correlations, concentration risk and diversification benefit to inform enterprise credit risk appetite framework, capital adequacy/allocation and concentration risk limits setting.

  • Provide independent assessment and effective challenge in PenFed’s Capital Planning and Stress Testing models, economic/stress scenarios, and capital adequacy based on PenFed’s risk profile.

  • Serve as member of PenFed’s Model Risk Management Working Group to work collaboratively with internal modeling community to mature PenFed’s Model Risk Management program. Opine on requirements for new models, further enhance the soundness of models in use, and model risk rating framework tailored to model type and use.

  • Attend and present at Credit Risk Committee. Communicate findings and escalate issues verbally and in writing, as requested, to executive management and internal credit and risk senior executives.

  • Work closely with internal enterprise data team and external vendor to enhance availability of collections and recovery data. Identify required data elements and work with data stewards to understand data sources and ensure data quality. Contribute to collections database designs.

  • Partner with key stakeholders in various groups (Business Lines, Compliance, Operations, Finance/Credit Risk Modeling, and Enterprise Risk Management) to identify areas of opportunity and spearhead initiatives in order to enable profitable growth while minimizing credit risk exposure and adapting to changing economic and regulatory environment.

*This role is responsible for ensuring business continuity. *

Qualifications

Equivalent combination of education and experience is considered.

  • Bachelor’s in Economics, Statistics, Engineering, Mathematics, and related disciplines. MS or MBA preferred.

  • Minimum of twelve (12) years of experience including significant exposure to analytical methodologies and risk management framework.

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

  • Strong understanding of quantitative analysis methods in relation to financial institution and track-record in econometric and machine learning analytics.

  • Deep expertise in quantitative methods, algorithms, and statistical techniques as well as programming language as needed.

  • Interest in supporting a collaborative working environment to enable well-considered and empirically supported decisions. Ability to partner across business lines and work with a variety of stakeholders.

  • Excellent verbal and written communication skills, including ability to summarize key messages for senior management presentations. Ability to explain complex topics simply to a wide variety of audiences.

  • Strong organization skills with the ability to multitask, prioritize and work under tight deadlines, whether on independent project work or in conjunction with others on a team.

  • Self-motivated with strong interpersonal skills to actively lead and implement ideas in a cross-functional team environment.

Supervisory Responsibility

  • This position will 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

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 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.

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