Senior Manager, Business Unit Forecasting and Planning - Mortgage

PenFed Credit Union
Mclean, VA
Jun 05, 2021
Jun 19, 2021
Full Time
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; its about being a part of the PenFed family.PenFed is hiring a Senior Manager, Business Unit Forecasting and Planning - Mortgage at our Tysons, Virginia location. The primary purpose of this role is to support the Mortgage Real Estate business segment in the development, modeling, and performance tracking of business strategies and activities for revenue and expense forecasting, product pricing, budgeting, and other financial risk management activities. The incumbent will lead the financial forecasting of new volume revenue, interest income, and other income/ expense projections for the business unit and measure actual performance against goals/forecasts. This position will produce financial analysis and what-if income forecasts and will actively participate in the development of the business units financial goals, product development strategies, and enhanced mortgage segment financial forecasting capabilities. 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.Collaborate with the mortgage business unit, responsible for the development of new volume, revenue, portfolio balance and interest income forecasting levels and mortgage loan portfolio prepayment/credit risk quantification using the QRM Risk Framework.Prepare multiple mortgage loan origination/sale what-if scenario volume forecasts to understand opportunities/risks and drive optimal risk-adjusted results leveraging internal and industry modeling tools.Work with the mortgage business unit in the preparation of the annual budget, quarterly income/expense reforecasts, and monthly income projections.Analyze actual mortgage segment performance across product groups, origination channels, and customer segments against forecasted results and management objectives/goals/limits; prepares formal written analyses and leads presentations that effectively present and explain results to business unit and senior management.Monitors near-term mortgage origination pipeline hedging activities, loan sales strategies, and mortgage servicing rights portfolio performance/risks against budget and operational plans.Work closely with corporate forecasting team to incorporate segment new volume, loan sales, portfolio, and expense forecasts into top of the house forecasts and capital planning and stress testing activities.Develop and maintain effective, cross-functional information-sharing feedback processes with the Accounting, Credit Loss forecasting, and Profitability teams and fosters the understanding and incorporation of GAAP accounting guidance/implications, credit risk levels, and FTP and expense allocation methodologies into mortgage business unit financial strategies.Through effective challenge, supports the implementation, development, and design of segment/product-level business unit profitability measurement process within the QRM Framework.Maintain an in-depth knowledge of fixed income instruments and valuation for mortgage loan products including interest rate risk measurement concepts such as market valuation, spreads, prepayments, duration, and basis risk.*This role is responsible for ensuring business continuity.* Qualifications: Equivalent combination of education and experience is considered.Minimum of ten (10) years of progressively responsible work experience using sophisticated asset/liability management software and/or developing statistical models forecasting uncertain cash flows for risk measurement. QRM Balance Sheet Management experience is required.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/FRM/CFA professional certification preferred.Minimum of two (2) years of direct management experienceExtensive knowledge of residential mortgage and an understanding of their related capital markets activities.Knowledge of database design and Structured Query Language (SQL) desired. Strong skills in various data analysis and visualization tools including SQL, Tableau, Excel, and PowerPoint is required.Ability to apply an analytical mindset to understand problems and propose actionable solutions supporting strategic business decisions.Ability to manage multiple projects simultaneously and implement rapid changes in project direction.Excellent oral and written communication skills; Proven interpersonal and organizational skills.Supervisory ResponsibilityThis position may directly supervise employees.Work EnvironmentWhile 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.*TravelAbility to travel to various worksites and be on-call is required.Special Message Regarding COVID 19PenFed 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 countrys 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 OpportunityPenFed 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.