Job Information

PenFed Credit Union Senior Credit Policy Analyst in Jacksonville, Florida


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 Credit Policy Analyst. The primary function of this job is to assist in the development and execution of a framework for credit-risk oversight of PenFed’s mortgage business, including retail and third-party originations; servicing; and credit-portfolio management. Responsibilities include monitoring and evaluating mortgage underwriting quality and the effectiveness of credit policies and controls; identifying potential weaknesses or opportunities; providing effective challenge; and formulating and recommending appropriate actions.


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 a thorough understanding of PenFed’s credit risk exposures and trends; monitor the credit environment and relevant industry developments; maintain comprehensive, current knowledge of GSE requirements, product offerings, and technology tools.

  • Perform credit risk monitoring and prepare management reporting on both organic and acquired portfolio to analyze risk trends and identify root causes, including originations volume / quality, portfolio risk migration and performance, vintage quality and auto vs. manual underwriting performance and exceptions.

  • Develop and implement effective credit risk oversight activities, consistent with PenFed’s risk appetite; review and opine on the ongoing maintenance and updating of all credit-related policies and guideline documents, including periodic edits, monitor and repost on policy and implementation issues, and provide actionable feedback to the business unit and credit risk oversight management. Maintain strong working knowledge of mortgage lending related regulations and investor guidelines to ensure compliance. Remain abreast of financial regulatory developments in credit risk management and best practices within the industry. Monitor FNMA, VA, FHA and other investors policy changes and evaluate impact to our policies.

  • Provide guidance to third party vendor relationship owners on identifying risks and appropriate mitigation efforts.

  • Partner with various groups (Credit Risk Modeling, Business Lines, Compliance, and Operations) to identify areas of opportunity and spearhead initiatives in order to enable profitable growth while minimizing credit risk exposure and adapting to changing economic and regulatory environment.

  • Serve as a liaison to the loan review function to assess and monitor the underwriting quality of mortgage originations; communicate findings to Mortgage Operations in a timely and effective manner, and partner with stakeholders to develop appropriate actions.Collaborate with quality control department to understand loan manufacturing quality and trends, identify and assess implications of loan defects, and formulate action plans.

  • Partner with stakeholders in reviewing, developing and delivering training, job aides, and other tools to improve underwriting quality and credit policy execution. Provide thoughtful leadership and foster collaboration towards the attainment of corporate goals.


Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in relevant field or equivalent experience required.

  • Minimum of five (5) years related work experience with a focus on credit risk policy & analysis and credit risk management in financial services is required.

  • Knowledge of mortgage GSE, VA, FHA and QM lending guidelines.

  • Proven project management skills, ability to manage multiple projects.

  • Self-motivated and strong interpersonal skills in order to actively lead and implement ideas in a cross-functional team environment.

  • Excellent written and verbal communication, and presentation skills 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.


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.