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 Credit Union is hiring a Director, Commercial Operations in Mclean, Virginia. The primary purpose of this role is to provide leadership to the development, growth, and administration of the Commercial/Member Business Loan (MBL) program at PenFed that includes loans originated through organic, participation, and syndication channels. The incumbent will lead operations for origination and servicing of the commercial loans while partnering with internal stakeholders including but not limited to Credit, Treasury, BSA, Legal, and external stakeholders (partnering financial institutions). The incumbent will also develop new and existing business relationships.
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.
- Manage loan production by identifying lending opportunities and originating loans by coordinating across internal and external stakeholders.
- Lead member/prospect calls to gain a thorough understanding of the member/prospect and their business in order to determine the merits of specific loan requests and loan structure, as well as assist in the management of the member relationship.
- Structure loan transactions in compliance with internal credit and program requirements.
- Prepare and negotiate loan proposals with borrowers and partners (business term sheets and commitment letters).
- Manage the loan approval process from deal screening to loan approval by coordinating with credit, treasury, BSA, and Legal.
- Work with partners on loan participations and syndication loans.
- Coordinate with Treasury to maximize portfolio profitability through appropriate pricing of new loan originations.
- Develop and maintain a quality loan portfolio.
- Responsible for producing Board, Management, and Regulatory reporting for the commercial portfolio.
- Responsible for managing portfolio servicing by coordinating with an external vendor.
- Provide leadership to the development of the lending platforms.
- Ensure compliance with Board policies and Regulatory requirements.
- Play a key role in implementing lending platforms.
Equivalent combination of education and experience is considered.
- Bachelor's degree in finance, economics or related field required. Master's degree preferred.
- Minimum of twelve (12) years of commercial lending experience.
- Thorough knowledge in review, analysis, and underwriting all product types related to commercial real estate loans and personal/corporate financial statements pertaining to Sponsors/Guarantors.
- Knowledge of commercial property market trends, familiarity with point of sale systems, and various commercial policy forms such as Acord forms and coverage types.
- Demonstrated analytical, cash flow modeling and conceptual skills, formal credit training is a plus.
- Strong knowledge of loan structuring with ability to balance credit union objectives and borrower expectations.
- Excellent verbal and written communication skills.
This position will supervise employees.
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 571-495-7921. #CB