Manager, Funds Transfer Pricing
Manager, Funds Transfer Pricing Summary PenFed is hiring a Manager, Funds Transfer Pricing at our headquarters in Mclean, Virginia. The primary purpose of this job is to allocate Net Interest Income (NII) to each business unit based on the nature of their assets and liabilities. The FTP Manager will act as a primary point of contact between Treasury, management team and business groups on topics relating to FTP including product profitability, loan pricing and forecast guidance. The successful candidate must be self-motivated and results-oriented with an understanding of the balance sheet and P&L. The manager also actively participates in the development of the institution's strategic plans, financial goals, and product development strategies. 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. Manage the design, development, and implementation of a comprehensive FTP process using the QRM Balance Sheet Management system (QRM). Directly be responsible for the maintenance of the company's FTP methodology, specifically the analysis and management of the Treasury Mismatch Center and respective risk position. Understand FTP calculation methodology and key impact drivers such as market interest rates, match funding, asset and liability duration and balance sheet activity Support the development of new loan/share origination rate forecasts for interest-earning asset and interest-bearing share products; effectively works with the business line areas of the credit union to incorporate forecasted rates into strategic operating plans and track performance against goals. Internal quality control checks related to monthly actual and forecast production process including FTP rates for business unit and product profitability Document procedures and methodologies to improve transparency in FTP modeling and results Prepare formal written analyses for Senior Management, the Financial Management Committee, and the Board of Directors. Maintain an in-depth knowledge of fixed income instruments including mortgage-related products, auto/ credit card products, indeterminate maturity deposits, and interest rate risk measurement concepts such as market valuation, spreads, prepayments, duration, basis risk, etc. Keep informed of new ideas and developments through publications, membership in professional organizations and contact with other financial institutions. Coordinate with Senior Management, Supervisors, and staff in all functional areas of the credit union in the accomplishment of assigned duties. Lead departmental projects as requested by Senior Management and performs other related duties as assigned. Ad hoc reporting and projects to assist Finance partners. Education and Experience Equivalent combination of education and experience is considered. Advanced Degree in finance, economics, mathematics, or another quantitative discipline and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions. MBA/CFA professional certification preferred. Minimum of ten (10) years' of finance/ banking industry experience with at least 3+ years on FTP. QRM Balance Sheet Management / FTP module experience is strongly recommended. Excellent understanding of key financial statements specifically a bank's balance sheet. In-depth knowledge of complex financial products and businesses. Strong written and verbal communication skills. Strong Excel and PowerPoint skills. Ability to condense highly technical subject matter into clear and effective communications to Senior Management. Proven interpersonal and organizational skills. 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.* Travel 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 571-289-4710.