Senior Manager, Consumer Lending

About the role

The Senior Manager, Consumer Lending at PenFed is responsible for managing a team of Consumer Loan Underwriters, Processors, and Consumer Refinance specialists. This role ensures high-quality member service through the establishment and implementation of appropriate policies and procedures.

Responsibilities

• Design and manage objectives, goals and performance standards for the processing and underwriting of direct and refinance consumer loans.
• Collaborate with Consumer Lending management staff in the development and support of both corporate and departmental initiatives. Provide support to the Consumer Loan & Strategy department and assist with development of Consumer Lending policy.
• Collaborate with service center management staff in the development and support of corporate and business unit-level objectives, with the goal to meet and exceed those goals.
• Drive strategy of the unit to ensure strategic initiatives are supported, and that processes are aligned in an efficient and effective manner.
• Maintain staffing levels to ensure proper coverage as well as support the business and hours of operation, providing direct coverage for key positions in case of absence.
• Assume the responsibilities of the Director in their absence, as it relates to Consumer Lending.
• Contribute to the development and implementation of policies and procedures for both the Consumer Lending team, as well as related departments.
• Assess the training and development needs of staff, this position is instrumental in the development, recommendation, and implementation of programs that will increase job enrichment, employee satisfaction, increase efficiency, productivity and cost-effectiveness.
• Ensure all team members complete trainings on time, this includes but is not limited to; HR training modules, appropriate training for employee’s role on the team, and supplemental training.
• Perform management responsibilities such as scheduling, enforcement of policy and procedures, and ensuring queue volumes are being managed and reviewed in a timely manner.
• Conduct performance appraisals, promotion reviews, salary recommendations, disciplinary action and terminations for staff.
• Act as liaison between external customers as well as internal customers, and various PenFed departments, to assist in problem resolution as well as providing and/or gathering data.
• Ensure that all monthly quality reviews are complete for all Consumer Lending positions in a timely manner.
• Provide input in the preparation of the Consumer Lending budget and participate in the review of vendor contracts as required.
• Remain current on all changes to regulations and the systems, ensuring the timely implementation of all revisions.
• Ensure that appropriate audit trails are developed and maintained for the Consumer Lending team.
• Gather, compile and analyze data related to Consumer Lending, providing reports to appropriate management and making recommendations.
• Maintain underwriter authority and acts on loans in accordance with Federal Credit Union Act and PenFed policies and procedures.

Qualifications

• Equivalent combination of education and experience is considered.
• Bachelor’s Degree in related field is required, advanced degree preferred.
• Minimum of four (4) years’ work experience in credit union or banking operations, preferably with PenFed, or equivalent is required.
• Minimum four (4) years of underwriting experience is required, preferably with PenFed.
• Minimum four (4) years’ managerial or supervisory experience.
• Subject matter expertise in the areas of loan processing, underwriting, and consumer credit industry trends, is required.
• Ability to be accessible and responsive during on and off hours for operational emergencies and related SEV issues.
• Knowledge of PenFed structure, products, policies and procedures is a plus.
• Excellent verbal and written communication skills, with an ability to review complex issues and make sound decisions, is required.
• Experience using A.I. tools preferred.

Supervisory Responsibility

This position will supervise employees.

Licenses and Certifications

No additional licenses or certifications required for this position.

Work Environment

While performing the duties of this job, the employee is regularly exposed to an indoor office setting with moderate noise.

Travel

Local travel to various worksites and be on call is required.

Pay Transparency

The anticipated starting salary range for this role is $84,700.00 - $166,902.00

Benefits

At PenFed, we offer a robust benefits package designed to support you both personally and professionally. You’ll have access to comprehensive health, dental, and vision plans; paid time off; and family-friendly benefits like paid parental leave, care support, and fitness center access. Financial wellness is encouraged through features like a 401(k) match, employee loan discounts, and fully paid life and disability coverage. We also support growth via education assistance, community involvement, and volunteer opportunities.

Purpose

Helping members achieve their dreams since 1935.

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.

Scam Warning

We are committed to preventing and detecting scams. If you receive a suspicious email or message claiming to be from PenFed, please do not click on any links or provide personal information. PenFed will never ask for your password or PIN, nor will we send emails asking you to update your account information. For more information, visit our security page.