Senior Analyst, Quantitative Analytics

Job description

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 Remote Senior Analyst, Quantitative Analytics at our Tysons, Virginia location. The primary purpose of this job is to implement quantitative models to analyze credit and prepayment risk, determine allowance for loan losses, and support financial planning. The incumbent will conduct work coordinated across a number of key resources throughout the organization, including accounting, risk, lines of business, and IT.

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.

• Implement models for loan loss allowance, CECL, stress testing, new volume origination, line of credit utilization, and prepayment models for all products, including credit card, personal loan, student loan, auto loan, mortgage, and commercial loan.
• Implement and test vendor developed models for consumer and commercial credit loss or prepayment.
• Conduct analyses to determine root cause and impact and propose solutions to remediate model performance issues.
• Ensure a high degree of data quality and accuracy in all model results and reporting.
• Monitor performance of quantitative models and support independent model validation efforts in accordance with the model risk management policy.
• Establish and document model implementation controls that satisfies model risk management, audit, and regulatory requirements.
• Interact with and advises Management regarding credit risk issues; formulates product strategy recommendations and evaluates the risk in the overall loan portfolio.
• Aid in development of credit risk management criteria for various product lines.
• Keep informed of new ideas and academic research within the industry, best practices, and regulatory developments through publications, membership in professional organizations and contact with other financial institutions
• Assist management with maintaining PenFed's compliance with all applicable federal, state, and local laws, regulations, and ordinances by abiding by PenFed compliance program and all policies, procedures, rules, and regulations

Qualifications

Equivalent combination of education and experience is considered.

• Master's Degree in a quantitative discipline is required.
• Minimum of five (5) years of related work experience in using statistical models, advanced data analysis, allowance creation, and CECL implementation preferred.
• Advanced programming skills to include knowledge of statistical programs (e.g. SQL, SAS, Python, and R).
• Ability to manage multiple projects simultaneously and implement rapid changes in project direction.
• Proven project management skills.
• Excellent oral and written communication skills required
• Excellent analytical ability.
• Experience in allowance for loan losses and CECL is preferred.

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

Limited travel to various worksites is 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.

About Us

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