What are the responsibilities and job description for the Director, Deposits Portfolio Management position at PenFed Credit Union?
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) Director, Deposits Portfolio Management at our Tysons, Virginia location. The Director of Deposit Portfolio Management is responsible for developing and executing strategies to grow and retain deposit balances, optimize member relationships, and enhance profitability. This role focuses on deposit member segmentation, deposit member profitability, product lifecycle management, and cross-sell initiatives to drive engagement and long-term value for the credit union. The ideal candidate has deep experience in member analytics, lifecycle management, and competitive benchmarking within retail banking.
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.
Qualifications
Equivalent combination of education and experience is considered.
This position will directly 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 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 402-639-8568.
#LI-Hybrid
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) Director, Deposits Portfolio Management at our Tysons, Virginia location. The Director of Deposit Portfolio Management is responsible for developing and executing strategies to grow and retain deposit balances, optimize member relationships, and enhance profitability. This role focuses on deposit member segmentation, deposit member profitability, product lifecycle management, and cross-sell initiatives to drive engagement and long-term value for the credit union. The ideal candidate has deep experience in member analytics, lifecycle management, and competitive benchmarking within retail banking.
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.
- Lead the development and implementation strategies to increase deposit balances and framework to define member level profitability.
- Partner with Marketing and other teams to optimize engagement & promotional campaigns, and product positioning based on member behavior and market trends and cross-sell opportunities between deposits and other loan products.
- Lead the development and implementation of member segmentation strategies to enhance member engagement and retention.
- Lead deposit portfolio optimization and retention efforts, focusing on high-value member segments.
- Monitor industry trends, competition, and economic factors to provide data-driven recommendations to optimize fee income.
- Define and develop member retention programs to prevent deposit attrition.
- Lead initiatives to transition members to more profitable products, such as moving rate-sensitive Members to relationship-based pricing models.
- Design and implement loyalty and engagement programs that encourage long-term deposit retention.
- Optimize account onboarding and early engagement strategies to increase long-term retention.
- Analyze member behaviors, deposit flows, and competitive intelligence to inform strategy.
- Lead, mentor, and develop business analysts, reporting analysts and support staff, fostering a culture of team, collaboration, innovation, and excellence.
Qualifications
Equivalent combination of education and experience is considered.
- Minimum Bachelor's degree in Finance, Economics, Business, or a related field (Master's/MBA preferred).
- Minimum 12 years' experience in member management, retail banking strategy.
- Minimum 4 years of people leadership experience in building, managing, and developing high performing teams.
- Strong analytical skills with expertise in financial modeling, data analytics, and forecasting.
- Experience working and leading teams with data mining skillsets such as SQL, Python, R, Tableau.
- In-depth understanding of deposits regulations and operations.
- Excellent communication, leadership, and stakeholder management skills.
- Ability to work in a member-focused, collaborative, and mission-driven environment.
- Knowledge of NCUA regulations, ALM strategies, and financial principles.
- Familiarity with behavioral economics and member segmentation techniques.
This position will directly 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 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 402-639-8568.
#LI-Hybrid
