Vice President, Business Unit CFO - Consumer Business Segment

Penfed Credit Union
Mclean, VA
Nov 30, 2021
Dec 02, 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; it's about being a part of the PenFed family. PenFed is hiring a Vice President, Business Unit CFO - Consumer Business Segment at our Tysons, VA location. The primary purpose of this job is to partner with Consumer 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. This position will operate as an embedded member of the business unit and interact with senior-level business leaders and provide leadership in pursuit of their financial goals. 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. + Provide financial guidance, leadership, and analysis to senior-level business unit leaders in the aligned business segment(s) to support financial strategy development and performance monitoring in the context of new volume forecasting, pricing, sales strategies, budgeting, segment/product profitability, and risk identification processes. + Collaborate effectively across multiple functional areas including, but not limited to, financial forecasting, risk, accounting, IT, HR, and the business unit itself to ensure business unit financial activities and strategies are consistent and aligned with overall PenFed financial and risk objectives, macroeconomic indicator outlooks, GAAP guidance, and operational capabilities. + Foster the understanding of profitability results and forecasts within the business segment across product groups, origination channels, and customer segments to provide transparency into revenue/cost structures and to drive optimal risk-based capital allocation decisions. + Direct the robust financial forecast modeling and analytical activities of the aligned business segment(s), including the forecasted interest income, credit risk implications, potential funding activities, premium/discount amortization, and other income/expense activities using the QRM Risk Management Framework in order to understand opportunities/risks and drive optimal risk-adjusted results. + Responsible for incorporating new origination volumes, pricing guidance, and loan sales strategies into annual financial operational plans, quarterly income reforecasts, budgets, stress testing activities, and tracking revenue/expense performance against goals. + Provide clear and insightful strategy development results, feedback and interpretation by way of presentations, written analysis, and/or oral reports to senior-level business leaders throughout the credit union. + Remain abreast of developments with regulatory agencies, GAAP accounting guidance, and capital markets areas that may impact business unit strategy and ongoing operations. Qualifications Equivalent combination of education and experience is considered. + Advanced degree (Master's or above) preferred in Economics or Finance or another quantitative discipline or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the job. MBA/FRM/CFA professional certification preferred. + Extensive knowledge of aligned products and an understanding of their related capital markets activities. + Minimum fifteen (15) years' experience leading high performing financial analysis teams and/or strategy development. + Minimum of five (5) years of direct management experience. + Excellent understanding of credit risk loss forecasting activities and/or the new Current Expected Credit Loss (CECL) standard. + QRM Balance Sheet Management system experience is a plus. + Ability to manage multiple project simultaneously and implement rapid changes in project direction. + Experience with industry best practice modeling techniques and demonstrable skills in strategy development, benchmarking, and financial analysis and forecasting. + Ability to condense highly technical subject matter into clear, effective presentation-quality communications to senior management. + Excellent understanding of the regulatory environment, capital allocation, stress testing, and generally accepted accounting principles (GAAP) guidance is preferred. Travel Ability to travel to various worksites and be on-call is required. Special Message Regarding COVID 19 PenFed 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 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.