Senior Manager, Product Profitability

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 Senior Manager, Product Profitability at our Tysons, Virginia location. The primary purpose of this position is to act as part of the Financial Planning & Forecasting team. This role will manage PenFed’s product profitability management process and will develop and maintain business line P&L and indirect cost allocation methodologies. This role requires a results-oriented approach with an understanding of banking balance sheets and P&L dynamics and cost allocation methodologies. This position has considerable interaction with the CFO, senior leaders, and business line owners. 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. Develop and maintain profitability analysis process across business line segments, product groups, origination channels, and customer segments to provide transparency into revenue/cost structures. Maintain effective partnerships with business unit CFOs, operational groups, management teams to provide profitability report on an ongoing basis as business objectives evolve and markets change, to ensure competitive pricing, performance to plan, and to maintain core profitability. Prepare and deliver formal written analyses, reports, and presentations of actual results versus plan to LOB CFO teams, Senior Management, and the Asset/Liability Committee on a regular basis including the drivers of those results. Help converting Excel based profitability report framework to Hyperion Planning system. Provide insights into the identification of activity-based drivers for cost allocation, working closely with operations and accounting groups to establish and maintain a revenue/expense driver data collection process. Maintains a broad knowledge of relevant FASB accounting standards including FAS 91 and a thorough understanding of funding considerations for loan products such as autos, mortgages, and credit cards. Ad hoc reporting and projects to assist Finance partners. Qualifications Equivalent combination of education and experience is considered. Advanced degree in finance, economics, mathematics, or another quantitative discipline and experience that provides the necessary skills and knowledge to satisfactorily perform the essential job functions. MBA/CFA/CMA professional certification preferred. Minimum of ten (10) years of finance/ banking industry experience with a minimum of five (5) years on product profitability and two (2) years of experience in people management. Experience using Hyperion Planning is strongly preferred. In-depth knowledge of financial services businesses and complex financial products. Excellent understanding of financial statements specifically balances sheet and income statements. Strong written and verbal communication skills. Excellent Excel and PowerPoint skills. Ability to condense highly technical subject matter into clear and effective communications to Senior Management. Proven interpersonal and organizational skills, including the ability to support and defend their analytical work to Senior management. Licenses and Certifications CFA professional certification 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 Ability to travel to various worksites and be on-call may be 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 240-224-4256.
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