Easter Seals Jobs

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) Vice President, Model Risk Management at our Tysons, Virginia location. The primary purpose of this job is to manage and further develop the Model Risk Management program at PenFed, with a particular focus on governance, validation, and monitoring of model performance of all critical models, including those crucial to executive decision-making and reporting in areas of interest rate and liquidity risk, balance sheet management, credit decisions, credit loss forecast and allowance, capital planning and stress testing, income and expense forecasting, hedging, and capital adequacy efforts.

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.

• Responsible for all second line Model Risk Management team, including developing and managing governance standards for all models in use at PenFed, leading to more optimal use of models, and increased confidence in model outcomes.

• Lead the second-line challenge responsibility for all models in PenFed.

• Lead second line review of integrated capital planning and stress testing models, model usage, model overlays.

• Lead interaction with regulatory partners in all areas related to model standards, management and documentation, encompassing quality/use/overlay/governance/construction/validation and monitoring of model performance.

• Provide direction and ensure an effective model risk governance process, including model identification, model statuses tracking and accurate reporting, model inherent risk, and residual risk reporting and KRI reporting.

• Provide clear and insightful analysis, feedback and critique of models by way of written and/oral reports to business units, senior management and the Board.

• Perform independent validation of models in use at PenFed on an iterative basis.

• Set standards for model documentation and model performance monitoring standards.

• Maintain and enhance model risk findings management processes, including documenting evidence for finding, provide recommendations for their resolutions, review model owner remediation plan, enforce policy required timeline, and review closure evidence.

• Maintain effective relationships and communication channels with model user, owners, and governance partners.

• Continually promote enhancements of capital planning and stress testing, interest rate risk and quantitative modeling approaches and methodologies in alignment with industry best practices.

• Provide senior leadership to the department by maintaining awareness of evolving market trends which could impact efficacy of modeling efforts and remaining abreast of regulatory developments impacting PenFed’s model risk management profile.

• Act as liaison with model validation teams, internal and external auditors and NCUA examiners.

• Lead the Model Risk Management working group.

• 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. Takes appropriate action working with IT Security and HR when necessary to address any security breaches.

Qualifications

An equivalent combination of education and experience is considered.

• Advanced degree in a quantitative subject such as Finance, Economics, Mathematics, or Statistics; or a combination of education and experience that provides the necessary skills and knowledge to satisfactorily perform the job.

• Quickly able to understand the big picture of any given model in terms of its usage and key limitations.

• Experience developing, adjusting, validating, testing, monitoring and documenting of quantitative models required.

• Minimum of twenty (20) years’ experience in quantitative modeling of market risk; capital markets management; capital planning and stress testing; quantitative risk management; and/or model risk management in a financial institution.

• Minimum of ten (10) years’ related experience in a director or higher role required.

• Experience and knowledge in its development in Current Expected Credit Losses (CECL) and highly preferred. Experience and knowledge in projections of allowances and credit loss provisions in the DFAST and CCAR scenarios highly preferred.

• Deep understanding and working experience in regulatory capital stress testing, and model risk management standards, including SR 11-7, and best practices.

• Experience working directly with regulators and preparation of material designed to report to Board and regulators.

• Ability to condense highly technical subject matter into clear, effective presentation-quality communications to senior management.

Supervisory Responsibility

This position will supervise employees.

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

The ability to travel to various worksites and be on-call will be required.

About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 2.8 million members and over $36 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 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.