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) AVP Enterprise Risk Management at our Tysons, Virginia location. PenFed's Enterprise Risk Office (ERO) is hiring an experienced AVP of Enterprise Risk Management (ERM) at our Tysons, Virginia location (hybrid). The primary purpose of this role is to help lead PenFed's Enterprise Risk Management (ERM) function in developing, implementing, and administering organization-wide risk management framework including enterprise risk appetite statement, policies, processes, and activities, and providing oversight over strategic, financial and other risk domains. This position will lead efforts to track and enhance PenFed's strategic, reputational, interest rate, liquidity, and credit risk, partnering with ORM on compliance and operational risks, and providing risk advisory support, key risk indicator reporting, and tone across the organization and to all levels of management. Additionally, the role will provide enterprise risk management leadership across PenFed and collaborate with business units and other risk functions to deliver value for the enterprise. This individual will play a key role in performing second-line review and risk assessment of PenFed's new business activities, in collaboration with business lines and other risk partners, and enhancing new activities policies and procedures. The position reports to the VP of ERM and will act in place of the VP as needed and will assist in managing other areas of responsibility related to ERM, including but not limited to Model, Market, Capital Planning, Financial Risk Management and Operational Risk Management. The incumbent will be responsible for leading and evolving enterprise risk management in line with law, regulation, and COSO frameworks, and collaborating with business units and corporate functions to ensure seamless comprehension of and adherence to policy and procedures related to risk and control. The position will support the Enterprise Risk Management Committee proceedings and create reports and recommendations for PenFed Board of Directors' consumption, as well as all regulatory requests.
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.
Collaborate with Internal Audit, Operational Risk Management, Enterprise Business Resiliency, Third Party Risk Management, Accounting, Finance, and other departments supporting risk management and monitoring activities.
Work across first and second lines of defense as a consultative partner and owner of the ERM framework to deliver meaningful value for the Enterprise.
Lead annual enterprise risk appetite statement updates and leverage and tailor best practice risk management and governance frameworks to align with PenFed objectives.
Lead risk management framework and service improvement initiatives and drive continuous improvement and process maturity for Enterprise Risk Management.
Perform risk management activities, e.g., risk identification, assessment, analysis, and monitoring.
Develop and own the PenFed risk register for current and emerging risks as well as new business activities.
Support division-level reporting of management metrics; work collaboratively with business unit leaders to identify key risks, assess severity of risks, aggregate and prioritize risks, obtain management support for appropriate risk treatment strategies to include effective controls.
Develop, analyze, and monitor enterprise risk controls, key control metrics, risk tolerance limits, and escalation thresholds.
Gather data, perform analyses, and develop risk reports and dashboards that provide decision-making support for senior management and Board of Directors.
Develop and assist in delivering ERM training and workforce communication with regards to Enterprise Risk Management topics.
Analyze emerging risks and trends that may affect PenFed and present treatment strategies to the VP, Enterprise ORM.
Evaluate new methodologies, standards, and practices to manage risks in both upside and downside scenarios, adding value relative to the achievement of strategic business objectives.
Assist the VP, ERM with integrated, enterprise-wide activities, including the corporate risk assessment, department risk assessments, the Enterprise Risk Management Committee, Communication with the Board and Executive Team, strategic planning, financial planning, capital planning, and business performance management.
Present to senior leadership recommendations for improving existing capabilities and practices, as appropriate.
Draft policies; process, standards, and framework documents; and operational support guidelines and reference materials.
Partner across all lines of defense to develop a risk culture to help achieve PenFed's goals and objectives.
Oversee, provide guidance, and report on significant legislative and regulatory developments that may affect PenFed's risk management framework and environment.
Recruit and develop talents and build a high-performing team to effectively engage with internal and external stakeholders.
This role is responsible for ensuring business continuity.
Qualifications
Equivalent combination of education and experience is considered.
Bachelor's Degree in Business, or a related field, required
Minimum of twelve (12) years' experience in enterprise risk management, governance, compliance, or audit in the financial industry
Minimum of five (5) years of direct management experience.
Minimum of two (2) years of related experience in a director role.
Professional experience with applying COSO standards for internal control and risk management.
Ability to work well with others, challenge traditional ways of thinking, and the ability to build consensus is required.
High degree of business acumen and experience in the financial services with focus on consumer banking is required.
Ability to think strategically and analytically, solve problems, and manage multiple, concurrent projects is required.
Strong self-motivation and ability to bring objectives to completion independently.
Strong written and verbal communication skills are required, including communicating effectively and confidently at all levels, demonstrating emotional intelligence, and applying sound judgment.
Quantitative modeling background helpful though not required.
Ability to provide effective challenge related to management of Financial-, Capital-, and Strategic planning risk required.
Data management and data analysis experience preferred.
AI experience, specifically AI application for risk management modernization preferred.
Additional Skills
To perform the job successfully, an individual should demonstrate the following behaviors to perform the essential functions of this job:
Exceptional interpersonal skills and personal humility
High Emotional Intelligence
Personal Integrity
Executive Presence
Self-Motivation
Mission focus
Consultative/Collaborative Approach
Attention to Detail
Professional Credibility
Ability to Maintain Confidentiality
Flexibility/Adaptability
Organizational Skills
Supervisory Responsibility
This position will supervise employees.
Licenses and Certifications
There are no additional licenses and/or certifications required.
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 to various worksites and be on-call may is required.
About Us
Established in 1935, PenFed today is one of the country's strongest and most stable financial institutions with over 2.9 million members and over $31 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam and Puerto Rico. 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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