Senior Manager, Mortgage Products

Alexandria , Virginia
Feb 20, 2018
Mar 02, 2018
Full Time


PenFed is hiring a Senior Manager, Mortgage Products in our Alexandria Service Center in Alexandria, VA. The primary purpose of this job is to lead development of new products, refine existing products and develop ideas that promote the growth of Mortgages. The function will lead competitive market research, product planning and credit union-wide coordination of Mortgage product launches and revisions. This position will develop balanced growth strategies and work with members of senior management to implement strategies and policies/processes improvements in order to optimize Mortgage loan production.  The position will also review Mortgage related Credit policy and Compliance issues to determine where changes could be recommended to improve our competitiveness in the market.


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 development of new products, refine existing products and develop ideas that promote the growth of mortgage loan products.
  • Identify product opportunities, assess risk and proactively develop product design enhancements to increase mortgage loan production.
  • Coordinate with the Mortgage Loan Advisor (MLA) Sales Manager to create a marketing strategy and improved sales approach for mortgage loan product growth.
  • Work with Mortgage Shared Services/Transformation departments by providing appropriate requirements and documentation to support IT’s and Mortgage Operation’s development and implementation of new products.
  • Assess operational policies and processes and make recommendations to ensure optimal member experience for mortgage loan products.
  • Utilize statistical metrics and models that provide insights into response, balance, rate, segmentation, and price elasticity, etc. to identify target segments and marketing tactics.
  • Survey the sales team to assist in identifying product opportunities and prioritizing efforts.
  • Review competitive market practices and make recommendations concerning adjustments to programs in related areas.
  • Collaborate with finance, treasury, compliance, legal, technology, branch services, omni channel and marketing partners to support mortgage loan product growth.
  • Create key metrics and system to monitor and measure mortgage loan product growth.
  • Coordinate reviews done on Mortgages by Compliance, Risk, Lending Services, etc. to insure a timely response and impact assessment.
  • Insure that all Mortgage P&Ps are kept up to date when changes to products, processes, etc. occur.


Education and Experience

Equivalent combination of education and experience is considered.

    Bachelor’s Degree in Business, Finance with preference for quantitative fields or a related field is required or equivalent work experience. Master’s Degree in Business, Finance, or in a quantitative field is preferred. Minimum of seven (7) to ten (10) years’ of experience in related field. Working knowledge of SAS, Tableau or similar Decision Science Tools is preferred.

Supervisory Responsibility

This position will directly supervise employees.


Licenses and Certifications

There are no additional licenses and/or 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.*



Ability to travel to various worksites and be on-call is required.




About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.6 million members and over $23 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. 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.

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 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 703-838-1568.

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