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  • McLean, VA

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Senior Manager, Product Development and Management

PenFed Credit Union • McLean, VA

Posted 17 days ago

Job Snapshot

Banking - Financial Services
Banking, Finance

Job Description

Senior Manager, Product Development and Management


PenFed is hiring a Senior Manager, Product Development and Management at our headquarters in McLean, Virginia. The primary purpose of this job is to lead the product innovation, development and management for the consumer deposit business - Checking, Savings and Certificates of Deposit (CDs).  This position will be responsible for developing the product strategy, roadmap and lifecycle of PenFed’s deposit products.  This position will provide end-to-end leadership of new and existing products from inception through all phases of the product’s lifecycle including: concept, development, launch, adoption, enhancement and performance.  This position will also drive implementation of innovation strategies that drive growth and market penetration for new and existing products and oversee product vision, strategy and delivery through the research, design, development and testing.

Essential Functions

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 and be a champion of the Deposit product strategic roadmap to meet current and future member deposit needs across all channels of business.
  • Oversee competitive research and gather end user feedback from consumer research, user research and operational teams to determine new products and product enhancements and develop project and product requirements.
  • Drive collaboration between business strategy, IT and user experience team to deliver and document requirements for product development and lead the implementation of the Deposit product transformation.
  • Identify, evaluate and lead the implementation of vendor provided technology and capability that delivers usable, valuable and feasible product features and enhancements.
  • Monitor the competitive environment for a strong understanding of the way consumers use and value checking and savings products.
  • Build and maintain strong relationships with internal and external partners including technology, legal, compliance, user experience, call center operations, branch and other involved as stakeholders in the transformation of our deposit products.
  • Serve as the Subject Matter Expert (SME) for savings and checking products including pricing, policies, operations and technologies integral to delivering products or enhancements to members
  • Develop and manage enterprise wide change management solutions that will coordinate the execution of PenFed’s deposit transformation, establish project management and reporting protocols, and coordinate the offering of new products and process enhancements with operations to ensure appropriate staff training.
  • Build and lead a high performance team that proactively seeks out opportunities to grow and improved deposit product performance.

Education and Experience

Equivalent combination of education and experience is considered.

  • Bachelor’s Degree in Business, Economics, Finance, Engineering, Computer Science or related field is required.  MBA or Master’s Degree in the related field is highly preferred.
  • Minimum of ten (10) years’ of management experience, including high impact, cross- functional project management experience.
  • Minimum of five (5) years’ of experience in product management of consumer products in financial services – Deposit experience is ideal.
  • Minimum of five (5) years’ of experience in technical product development including agile development.
  • Minimum of four (4) years’ of people management experience.
  • Expert level understanding of the US consumer banking landscape including delivery models of payments processing and evolution of digital channels.
  • Excellent written communication skills with ability to consolidate complex topics and detail into digestible and actionable content for Executive presentations.
  • Experience working in a fast-paced dynamic environment while carrying multiple projects and managing different and often competing priorities.
  • Experience forming strong partnerships with key stakeholders in other areas and working with them on initiatives. Experience holding partners/team members accountable when necessary.
  • Experience driving results using both business and analytical acumen and develop optimal strategies and tactics that achieve business and member experience objectives.

Supervisory Responsibility

This position will supervise employees. 

Licenses and Certifications

CSPO (Certified Scrum Product Owner) Certification 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.*


Ability to travel to various worksites and be on-call may be required.

About Us

Established in 1935, PenFed today is one of the country’s strongest and most stable financial institutions with over 1.8 million members and over $25 billion in assets. We serve members in all 50 states and the District of Columbia, as well as in Guam, Puerto Rico, Okinawa, and Portugal. 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.

Our mission isn’t simply to help our members get by. We exist to help them realize every ounce of their potential. We exist to educate, and to encourage. We exist to usher their dreams into the land of reality.

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 571-495-7921.

Job ID: 16762
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