Sr. Manager, QRM Development

About the role

PenFed is hiring a (Remote) Sr. Manager, QRM Development, reporting to the VP, Financial Risk Modeling & Integration within the Financial Analysis & Forecasting group. The incumbent will provide leadership for a team responsible for the management, oversight, and delivery of the credit union's QRM (Quantitative Risk Management) applications.

Responsibilities

• Leads the efficient execution, coordination, and continued development of interest rate risk modeling, income forecasting, FTP, liquidity risk, and capital planning & stress testing within the credit union's QRM infrastructure.
• Coordinates and provides oversight for the implementation of behavioral and credit loss forecasting models into the QRM framework to support credit loss, prepayment/attrition, and pricing activities in support of capital sensitivity analysis and income forecasting.
• Oversees testing and implementation of new QRM functionality that will add value for the Balance Sheet Management and Financial Planning teams.
• Works closely with forecasters, modelers, and business units to continue improving QRM modeling approaches and assumptions to provide an integrated framework for risk management.
• Maintains and strengthens technical relationships with other units and departments involved in the modeling effort for PPNR, credit risk forecasting, and ALLL models, including data requirements, model quality, and timely delivery of models to be implemented within the QRM framework.
• Maintains extensive knowledge of modeling requirements for existing and emerging PenFed financial products and provides senior-level coordination for necessary data requirements with the Finance data team.
• Directs the preparation and maintenance of high-quality process and model change documentation that satisfies internal model risk policies, audit requirements, and corporate governance.

Qualifications

• Advanced degree in a quantitative subject, such as Economics or Finance; CFA certification, or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the job.
• Minimum of eight (8) years' experience working with advanced econometric, statistical, and/or forecasting tools using ALM, FTP, CCAR, liquidity and other financial risk management models, including extensive understanding of retail lending, required.
• Minimum 3 years of supervisory experience, required.
• Minimum five (5) years QRM Balance Sheet Management system experience; strong familiarity with QRM forecasting capabilities and the integration of externally developed models into the QRM framework is preferred.
• Extensive understanding of cashflow modeling across retail lending and funding programs such as auto, mortgage, credit cards, and student loans, as well as demand and time deposits.
• Generalized, working understanding of SQL or similar data query competencies.
• Python coding a plus as well as relevant experience using AI tools such as Copilot preferred.

Skills

• CFA Certification.
• Advanced experience with econometric, statistical, and/or forecasting tools.
• Strong understanding of QRM Balance Sheet Management systems and forecasting capabilities.
• SQL or similar data query competencies.
• Python coding and AI tools such as Copilot (preferred).

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.

Pay

The anticipated starting salary range for this role is $97,400.00 - $195,010.00. This position is eligible for an organizational performance-based annual bonus, subject to board discretion and approval. This position is also eligible for an individual performance-based annual bonus.

Schedule

Ability to travel to various worksites and be on-call may be required. The employee is regularly exposed to an indoor office setting with moderate noise.