Senior Vice President, Chief Credit Risk Officer

PenFed Credit Union
Mclean, VA
Jan 25, 2022
Jan 29, 2022
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 Vice President, Chief Credit Risk Officer at our Tysons, Virginia location. The primary purpose of this position is to define and establish Enterprise-wide credit policies, procedures, and processes ensuring appropriate mitigation of the risks inherent in any loan portfolio to ensure that aggregate credit risk in PenFeds loan portfolio aligns to the established risk appetite. This position will oversee real estate, consumer, and commercial credit policies, ensuring compliance with all applicable law and regulation, as well as continuously improving the operations of the Credit Union about Credit risk, in line with industry best practices. Position will oversee second line loan review, ensuring appropriate mitigation of the risks inherent in each loan portfolio. This position will be responsible for empirically informing the annual risk appetite statement in credit risk, validation of safe and sound lending objectives and overseeing the entire range of policies and procedures for the Enterprise, to include those relating to underwriting quality, credit decision science practices, policy exception monitoring, and loss forecasting. Position will also manage loss forecasting, mitigation, and collections procedures. Position will oversee strategic guidance and policy direction for Collections and Debt Charge-off Operations, as well as close collaboration with elements focused on these activities, is integral to this position.The SVP will ally with PenFeds Model Risk Management team, ensuring appropriate credit risk model construction, use, testing and as appropriate, overlays. Selected individual will Chair the Credit Risk Committee and serve on the Enterprise Risk Management Committee and Assets and Liabilities Committee; incumbent will also play a key role in PenFeds Capital Planning and Stress Testing exercises. The position will support strong governance at PenFed, to include preparation of regular monthly reports to the PenFed Board of Directors, or Committees of the whole Board. This position is a key management role at PenFed, and a part of the senior management team. 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.Develop and implement overall credit policy, plans, procedures, and programs designed to ensure that the credit quality of the lending portfolio aligns with PenFeds strategic direction and risk appetite.Ensure adherence to all applicable federal & state policies, procedures, and regulations. Maintain knowledge of current lending law and regulation. Oversee the management, analysis, and enhancement of PenFeds credit risk reporting to executive management and the Board of Directors. Direct the development and execution of a strategy and process to manage risk of concentration exposures. Evaluate the company loan portfolio to inform proper mix of loan types and risk ratings, maximize yields, maintain quality control, and minimize losses.Oversee the team of data scientists, business intelligence analysts, model developers and others in support of mission critical credit risk and collections, capital planning and stress testing, targeted marketing, fraud containment, and compliance with model governance and management standards, to optimize the performance of loan products and operations.Lead identification, measurement, and monitoring of credit risk as it relates to Merger and Acquisition (M), loan purchases and participation, and other new business strategiesEnsure the reliable use of multi-functional quality controls related to consumer, real estate and commercial lending. This includes loan reviews to ensure credit decisioning and operational processes are properly adhered to lending policies & regulatory requirements, merger, and loan sales due diligence. Monitors and reports loan review results and underwriters performance to Board.Oversee the collections team and ensures collections effectiveness and compliance with all related rules and regulations.Collaborate with Operations to establish (or incorporate) strategic guidance and policy direction to optimize Collections and Debt-Charge-off Operations; maintain ongoing collaboration to monitor execution and adjust as necessary.Be the Credit Liaison to Internal and External auditors and regulators during periodic examinations and audits. Oversee the review of PenFeds loan portfolio by entities including the NCUA, OCC, and Fed as required. Represent PenFed at opening and closing summary meetings and prepare responses to findings and action plans as appropriate.Serve as member of the Senior Management Staff, working with other members to develop goals and strategies to achieve long-term profitability, growth, and strategic direction set by Executive Management.Work collaboratively across the Credit Union, specifically with lenders, to support the credit and sales vision and a team environment.Oversee the Loan Review Committees effectiveness in approving exceptions permitted by Board policy to be within the best interests of members and the credit union.Hire, develop and retain a team that is committed to achieving results. Build and maintain a high-performance culture through effective employee development and timely performance management. Provide ongoing coaching and leadership to achieve desired results.Manage key vendor relationships related to credit risk function including with credit reporting agencies, as required. Keep informed of new ideas and developments through publications, membership in professional organizations and contact with other financial institutions. Review competitive market practices and make recommendations concerning adjustments to programs in related areas.Helps safeguard PenFeds computer and IT systems by monitoring staff adherence of all security policies and related training for individuals manage red by this role. Takes appropriate action working with IT Security and HR when necessary to address any security breaches. Qualifications: Equivalent combination of education and experience is considered.Advanced degree or equivalent preferred.Baccalaureate degree in related field or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functionsMinimum twenty (20) years progressively responsible experience in residential real estate, commercial and consumer lending with proven experience in credit evaluationMinimum of seven (7) years of experience in a leadership capacity with managerial responsibility.Minimum of five (5) years experience at a VP or SVP level.Experience with loss forecasting, loss mitigation, and collection activities.Experience supporting Board of DirectorsStrong capability to clearly present data for decision-making purposes to a wide variety of audiencesFamiliarity with industrySupervisory ResponsibilityThis position will supervise employees.Personnel: Provides administrative supervision to assigned staffBudget: Prepares department budgets and monitors complianceLicenses and CertificationsThere are no additional certifications required.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 will be 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.#LI-CB1