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 (Hybrid) Vice President, Quantitative Consumer Lending at our Tysons, Virginia location. As a head of Consumer Banking Decision Science team, the individual will provide a critical role in managing team responsible for developing decision models, decision policy through the NPV framework, decision management software, while ensuring effective management of the underwriting teams. The ideal candidate will have a strong analytical background with focus on lending strategy, risk modeling, underwriting, process management, and experience in managing cross functional teams to achieve organizational objectives. The individual will collaborate closely with other stakeholders within the organization including but not limited to risk second line – Credit Risk Management (CRM), Enterprise Risk Management (ERM), and Model Risk Management (MRM), enterprise data team, finance, compliance, marketing, operations, and legal and other origination and servicing teams within consumer banking.
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.
Lead the design, development, and deployment of quantitative models focused on underwriting, profitability analysis, servicing, and collections.
Coordinate with Model Risk Management (MRM) to ensure all models are correctly and timely registered in the model risk registry.
Coordinate with MRM and Compliance to ensure robust model validation, monitoring, and governance of all deployed models.
Ensure compliance with all regulatory requirements and internal policies related to model risk management.
Lead updates to the lending policy using NPV framework that balances risk and profitability, ensuring compliance with regulatory requirements
Coordinate with marketing and product team in driving data-driven segmentation, and targeting to achieve optimal approval rates, and portfolio performance
Manage the implementation of underwriting models and policies within decision software to ensure compliance with the lending policies
Ensure alignment of the underwriting teams to manage risk through manual intervention
Provide strategic direction and leadership to the broader team, fostering a culture of innovation, collaboration, and continuous improvement.
Stray abreast of industry trends, emerging technologies, and best practices in quantitative modeling and machine learning, lending policies particularly in the context of consumer banking.
Serve as the primary point of contact for external stakeholders including bureaus, regulators and auditors as it pertains to modeling and lending initiatives for consumer banking.
Establish and maintain an efficient and controlled infrastructure for model development, documentation, implementation, and validation.
Promote innovative ways to visualize and digest complex data to leadership.
Qualifications
Equivalent combination of education and experience is considered.
Advanced degree in mathematics, Statistics, Computer Science, Economics, Engineering or a related field is required. PhD in quantitative field is preferred.
Minimum of fifteen (15)+ years of experience in quantitative modeling is required.
Minimum of five (5) years of management experience is required.
Minimum of ten (10) years of experience with the bureau data.
Expertise in unsupervised and supervised machine learning techniques and methods.
Experience working with large-scale (e.g., terabyte and petabyte) unstructured and structured data sets and databases.
Experience performing data mining, analysis, and training set construction.
Experience working in a team and deploying solutions in an iterative or agile/DevOps continuous integration and delivery environment using lifecycle management methods and tools.
Experience with relevant computer programming (SAS, R, Python, Scala, Java, SQL, or equivalent).
Experience in managing decision management solutions like FICO, Alloy.
Experience developing and utilizing Net Present Value (NPV) frameworks for lending decision management.
Experience leveraging capabilities in Snowflake and Salesforce for data insights and developing advanced modeling techniques.
Experience constructing and executing queries to extract data in support of model development.
Thorough/Working knowledge of Visualization (e.g., dashboard creation, network analysis).
Demonstrate intellectual curiosity; creativity and innovation to go beyond current tools to deliver the best solution to complex problems.
Ability to translate complex, technical findings into an easily understood narrative (i.e., tell a story with the data) in graphical, verbal, or written form.
Experience with consumer products in the financial services industry is required.
Supervisory Responsibility
This position will directly supervise employees
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 may be required.
About Us
Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2.8 million members and over $36 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 402-639-8568.
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