Senior Manager, Consumer Risk/Underwriting
Senior Manager, Consumer Risk/Underwriting Summary PenFed is hiring for a Senior Manager, Consumer Risk/Underwriting in Tysons, VA. The primary purpose of this job is to perform management functions focusing on the consumer lending products by conducting reviews of lending decisions, support manual underwriting, develop loan officer training and ensure compliance to PenFed policies as well as all regulations. Essential Functions 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 judgmental decisioning and quality control function for consumer lending products, including Credit Card, Direct and Indirect Auto Loan, Unsecured Personal Loan, Student Refi and Other Consumer Loans products. Re-underwrite and assess Consumer Loan Officer (CLO) manual underwriting decisions, implement decisions on underwriting and pricing exception requests, complaints /inquiries from Executive Correspondence and field to Lending Services. Conduct research, and provide recommendation to assist with Loan Review Committee decision, response and documentation. Provide and communicate assessment summary and findings to CLOs, PenFed management and Board. Identify opportunities in automated credit policy, manual underwriting guideline, loan origination / decisioning system and processes; partner with stakeholders to take appropriate actions. Perform quality control to monitor loan application data integration, stipulation, validation and documentation requirements are met before funding. Administer CLO lending authority, including grant, change and revocation of lending authority. Provide input and assist into the development and management of ongoing revisions to manual underwriting guideline and procedures. Implement consumer lending standards established by Credit Risk Committee and help ensure organizational compliance with set standards, policies and procedures. Develop PenFed Loan Officer training plans to ensure compliance with all regulations, industry practices, and established policies and procedures. In collaboration with Compliance and Financial Security, provide ongoing guidance to loan officers concerning credit risks, potential fraud, regulations, and lending opportunities in the form of regularly scheduled and ad hoc loan officer meetings, training and informational emails, Loan Officer Newsletter, intranet webpage, mentoring programs, one on one counselling, etc. Manage PenFed employee and official loan application for consumer loans. Assist in the development and/or revisions of PenFed's loan applications and other processes/documents related to the loan granting process. Consult with Vice President of Lending Services and the Chief Credit Risk Officer on exceptions to standard policies and procedures. Assist with special projects as required. Education and Experience Equivalent combination of education and experience is considered. Bachelor's Degree in business or a related field is required. Minimum of eight (8) years' of experience in judgmental decision in consumer products, underwriter training and consumer lending is required. Experience in a supervisory role leading and developing staff is required. Knowledge of Federal lending regulations and legislation as it relates to consumer credit required for consumer loans. Knowledge of NCUA and CFPB regulations required. 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. Travel Limited travel to various worksites is required. About Us Founded in 1935, and still growing, we began as the War Department Federal Credit Union. Today, PenFed is one of the country's strongest and most stable financial institutions with over 1.5 million members and over $21 billion in assets. We serve members in all 50 states and the District of Columbia, as well as on military bases in Guam, Puerto Rico and Okinawa. Our mission isn't simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality. 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 will maintain and observe personnel policies which will prohibit discrimination or harassment against a person because of race, color, creed, age, sex, gender, religion, national origin, ancestry, genetic information, military or veteran status or obligation, the presence of a physical and/or mental disability and all other 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 703-838-1568.