Senior Manager, Capital Planning and Stress Testing
PenFed Credit Union
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 Senior Manager, Capital Planning and Stress Testing at our Tysons, Virginia location. The primary purpose of this job is to lead the quantitative modeling activities of the capital planning and stress testing analytical process and balance sheet scenarios modeling.
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.
- Assume lead modeling role for the production and ongoing development of the capital plan and stress testing results in compliance with NCUA regulatory requirements.
- Coordinate the implementation of behavioral and credit loss forecasting models into the capital planning framework to support loan volume, credit loss, prepayment/attrition, and pricing activities in support of capital sensitivity analysis related to the capital planning, stress testing, and balance sheet scenarios processes.
- Prepare reporting materials and presentations used by Finance team to analyze the drivers impacting projected net income, risk, and net worth capital levels from changes in underlying data positions, asset/liability balance sheet product segment composition, macroeconomic factors, yield curves, model specifications and other balance sheet assumptions and risk factors.
- Maintain extensive knowledge of evolving modeling requirements for existing and emerging PenFed financial products and a comprehensive understanding of the impact of macro-economic factors on the balance sheet and income statement.
- Participate in, and prepare key discussion topics for, meetings with business units, modelers, and forecasters to improve modeling approaches and provide for an integrated, transparent business process.
- Support the preparation and execution of accurate and timely submission of capital planning and stress testing position modeling data to the NCUA data in support of their ongoing challenger modeling program.
- Prepare and maintain high-quality process and modeling documentation that satisfies internal model risk policies, audit requirements, and senior management and Board review that includes descriptions of position data, macroeconomic variables and assumptions, modeling methodological approaches, and explanation of the results.
- Maintain technical relationships with other units/departments involved in the modeling effort for PPNR, credit risk forecasting, and ALLL models, including data requirements, model quality, and timely delivery.
Equivalent combination of education and experience is considered.
- Minimum three (3) years QRM Balance Sheet Management system experience; strong familiarity with QRM forecasting capabilities and the integration of externally developed models into the QRM framework is preferred.
- Advanced degree (MBA or above) in a quantitative subject, such as Economics or Finance; CFA certification, or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the job.
- Strong understanding of the regulatory capital stress testing and/or the Federal Reserve’s CCAR testing process and relevant generally accepted accounting principles (GAAP) guidance is a plus.
- Minimum of five (5) years’ experience working with advanced econometric, statistical, and/or forecasting tools using CCAR, PPNR, and other financial risk management models including extensive understanding of retail lending – mortgages, auto, credit cards, student loans, and others preferred
- Ability to condense highly technical subject matter into clear, effective presentation-quality communications to senior management.
- Extensive understanding of cashflow modeling across retail lending and funding programs such as auto, mortgage, credit cards, and student loans, as well as demand and time deposits
- Possess a practical understanding of probability methods and models
- Generalized, working understanding of SQL or similar data query competencies.
- Minimum of ten (10) years of related financial experience.
- Minimum of two (2) years of direct management experience.
This position will directly supervise employees.
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 may be 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.
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.