Job Overview
PenFed is hiring a (Hybrid) SVP Enterprise Risk Office at our Tysons, Virginia location. This role establishes PenFed Credit Union's enterprise risk strategy and drives the design, implementation, integration and execution of the overarching Enterprise Risk Management framework and risk programs . This position plays a key role in champion ing a proactive risk-aware culture that balances robust risk governance with agile, resilient, and member-centric growth . Serving as a trusted risk advisor and strategic partner to the executive team and management and Board committees, this position oversees the Enterprise Risk Office to ensure independent, second-line effective challenge across Financial Risk (interest rate, liquidity, and capital), Capital Planning Stress Testing (CPST), Model Risk, Operational Risk, Data Governance, and emerging frontiers like AI . In addition, t his leader manages second line engagement to ensure key business activities , technology transformation, and new strategic initiatives align with Board-approved risk appetites.
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.
- Chair and run the Enterprise Risk Management Committee (ERMC); p articipate as a voting member in the Credit Risk Committee, the Allowance for Credit Loss Committee, and the Asset and Liability Committee.
- Model, evangelize and educate the organization regarding a proactive Risk culture across the entire Enterprise.
- Establish and quantify the organization's risk appetite and recommend to the Board of Directors the amount of risk that the organization is able and willing to take on.
- Establish, enhance and monitor Key Risk Indicators to ensure adherence to board-approved risk appetite; set appropriate risk acceptance levels across the Enterprise.
- At all times provide informed expert , and independent second-line challenge of risks related to PenFed strategies, performance and decision-making.
- Work with cross-functional business leaders to regularly identify key risks across all risk categories; assess risks based on impact and likelihood; quantify, aggregate, and prioritize risks; validate or challenge risk management strategies; and monitor/report on residual risk.
- Ensure all policies, processes, procedures, tools, technology infrastructure and information systems within the Enterprise Risk Office are current, accurate , and performing as intended.
- Establish or refine new polic ies , procedure and risk limit s as required to ensure the Enterprise's continued safety , soundness and strategic resilience.
- Advance predictive risk measurement capabilities across the enterprise, and formulate strategic action plans to help minimize, manage, and mitigate primary risks and then monitor the progress of these efforts.
- Develop, analyze, monitor and communicate real time and data-driven risk intelligence via key risk indicators (KRIs), key performance indicators (KPIs), and risk tolerance limits.
- Enhance and m aintain Enterprise-wide Risk and Controls Self-Assessment program and risk inventories, ensuring appropriate risk reporting for stakeholders including employees, executives, Board of Directors and regulators.
- Ensure that risk management priorities are fully integrated into PenFed 's strategic priorities and financial plans.
- Work with First-Line controls teams to evaluate enterprise operational risks across business and technology domains which might disrupt or affect business processes and ensure appropriate remediation actions.
- Issue findings as appropriate to BUs outside of policy or risk appetite tolerances; collaborate across all 3LOD to improve Findings and Issues Management tracking, monitoring and resolution.
- Lead the Enterprise Risk Office's engagement in Enterprise CPST exercise as a primary second line challenger .
- Interact with regulators on all aspects of risk management at PenFed across all 7 NCUA risk categories.
- Provide quarterly Board updates on Enterprise Risk Programs, Key Risk Indicators, and emerging risk trends.
- Develop budgets for risk-related requirements and projects and supervise their funding.
- Conduct risk assurance and due diligence on behalf of the organization for new or expanded activities and initiatives , including but limited to mergers and acquisitions.
- Develop, assign and regularly update training related to ERM purpose, functions and authorities and purpose, functions and authorities of other business areas involved in understanding and mitigating risk; identify SME presentations to augment as appropriate .
- Coordinate and provide information requested from business units related to risk and/ or specific organizational projects.
- Identify , a nalyze and report emerging risks and trends that may impact PenFed and present treatment strategies.
- In conjunction with Chief Compliance Officer, provide guidance and report on all key regulatory changes that impact PenFed's risk landscape.
- Evaluate strong risk methodologies, practices , and tools to effectively manage risks in both upside and downside scenarios, supporting the achievement of strategic business objectives .
- Present recommendations for improving risk management capabilities and practices to the Executive Team , ERMC, and Financial Risk Management Committee, as appropriate .
- Helps safeguard PenFed's computer and IT systems by monitoring staff adherence of all security policies and related training for individuals managed by this role. Take appropriate action working with IT Security and HR when necessary to address any security breaches.
*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 with sufficient experience is required .
- Twenty (20) years of management experience, with five (5) years serving in a VP or SVP role in the financial industry with direct management experience.
- Minimum of 5 years leading a risk function in a regulated financial institution +$15B in assets.
- Familiarity with and implementation of robust financial risk frameworks and operational risk management programs ; experience working with third line of defense staff.
- Multi-year experience with model risk management at first- or second-line level .
- Familiarity with regulatory requirements for Credit Union risk management .
- Experience with Archer preferred experience with other risk and control tracking and management software welcome.
- Direct management of cross-functional, sourced, or matrixed teams.
- Experience working with Financial Industry regulators.
- Experience working with Board of Director's .
- Strong verbal and written communication skills with the ability to articulate complex technical ideas in easy-to-understand business terms.
- Ability to accomplish results through others, particularly by establishing relationships and functioning controls; ability to provide leadership without ownership.
- Experience in using A.I. tools preferred.
Supervisory Responsibility
This position will supervise employees.
Licenses and Certifications
CFA (CFA Institute) FRM (GARP); PRM (PRMIA); CRMP (RIMS) or other equivalent is highly desirable.
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 is required.
Pay Transparency
The anticipated starting salary range for this role is $237,800.00 - $450,772.00
This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval.
This position is eligible for an individual performance based annual bonus.
#LI-Hybrid
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.
Our Purpose
Helping members achieve their dreams since 1935. Pentagon Federal Credit Union (PenFed) is one of America's largest federal credit unions, serving 2.8 million members worldwide with $29 billion in assets. PenFed offers market-leading certificates, checking and savings, credit cards, personal loans, mortgages, auto loans, and a wide range of other financial services, always with members' interests in mind. PenFed is federally insured by the NCUA and is an Equal Housing Lender.
Berkshire Hathaway HomeServices PenFed Realty, LLC is a full-service real estate company ready to assist our clients with buying, selling and renting a home. The company is a wholly owned subsidiary of PenFed Credit Union and is the largest independently-owned brokerage in the Berkshire Hathaway HomeServices network, placing us in the top 1% of all real estate brokerages in the country. With almost 60 offices and nearly 2,000 world-class sales professionals, we offer complete service coverage in Virginia, Maryland, the District of Columbia, Delaware, Pennsylvania, West Virginia, Florida, Tennessee, Kansas and Texas. In addition, we also offer specialized client services which include management of vacation properties and long-term rentals, corporate relocation services and national referral network.
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
[email protected] .
