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) Senior Manager, Liquidity & Funding at our Tysons, Virginia location. The primary purpose of this job is to develop, monitor, and manage PenFed’s liquidity position. The individual will also assist to develop and implement PenFed’s wholesale funding strategy in consideration of liquidity risk, interest rate risk and balance sheet management needs.
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.
Perform analysis and measurement of the daily liquidity position, monthly liquidity coverage ratios, and quarterly liquidity stress testing.
Lead the bi-weekly liquidity meeting and better streamline information sharing across business units to help forecast liquidity needs timely and accurately.
Utilize the QRM (Quantitative Risk Management) application to automate the process of liquidity coverage ratios, liquidity gap reporting and liquidity stress testing.
Leverage Hyperion as a tool to automate reporting for ALCO, CFO, and other ad hoc analysis.
Manage the use of PenFed assets as collateral to maximize liquidity funding lines
Develop funding strategy in consideration of PenFed’s liquidity risk profile, interest rate risk and balance sheet strategy.
Identify and propose optimal funding level in terms of size, duration, and retail/wholesale mix to achieve lower cost of funds and diversification of funding sources to reduce overall liquidity risk.
Be a point of contact with liquidity providers including the FHLB, municipal deposit brokers and advisors, repurchase agreement counterparties and other financial institutions to help secure, develop and diversify PenFed’s access to liquidly and cheapest source of funding.
Manage wholesale funding programs and execute trades.
Monitor market development and develop/identify new wholesale funding sources.
Work directly with deposit business unit in the market discovery of retail pricing/flows and development of deposit funding strategies including pricing and volume.
Develop and manage the measurement of liquidity metrics and reporting for ALCO, the Board and regulators including those required by the Contingency Funding Plan, ERMC, the Board and regulators.
Supervise one direct report to perform daily liquidity analysis and enhance processes and reporting for ALCO, FMRC, the Board and regulators.
This role is responsible for ensuring business continuity.
Qualifications
Equivalent combination of education and experience is considered.
A minimum of 10 years’ experience in managing liquidity and funding in a banking/financial institution
A minimum of two years in a supervisory role with direct people management experience
Experience with QRM or other sophisticated asset/liability management liquidity models that forecast uncertain cash flows desired
Experience with programming languages such as Python and SQL proficiency with data visualization/BI tools, such as PowerBI and Tableau desired
Knowledge of financial concepts used in present value analysis, financial modeling, and capital markets.
Advanced degree in finance, economics, computer science, mathematics, or other quantitative discipline and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions. MBA and/or CFA professional certification desired.
Ability to manage multiple projects simultaneously and implement rapid changes in project direction.
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 on a limited basis to various worksites and be on-call.
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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