(Remote) AVP, Secondary Market Business Development

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Posted 3 days ago United States Salary undisclosed
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Job Description


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 (Remote) AVP, Secondary Market Business Development at one of the following locations: Tysons, Virginia; San Antonio Texas, Austin, Texas; or Dallas, Texas. The primary purpose of this role is to source and lead the development of new investors that promote the growth of mortgage home loan product sales. The incumbent will establish relationships with banks, insurance companies, direct relationships with credit unions and other financial institutions. They will coordinate closely with Capital Markets and other internal stakeholders including Finance in executing the trades and investor reporting after the sales. Additionally, this role will be responsible for the strategic development, implementation, and ongoing execution of effective sales strategies into the Secondary Market.


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.

  • Generate new investor opportunities, identify, and contact decision-makers and determine capability with the business objects of the originate-to-sell strategy.

  • Lead the development of new investor relationships, monitoring for trends, issues and concerns including profitability at time-of-sale and throughout the relationship.

  • Partner and advise Transaction Mangers to manage non-disclosure agreements (NDA), applications, contracts, and the onboarding of new investors.

  • Oversee development of new investor relationships and manage existing relationships from warm hand-off's, prospecting, and previous relationships.

  • Structure loan sales transactions to maximize gain on sale.

  • Coordinate and monitor loan sale activities between investor delivery and accounting.

  • Configure Secondary marketing systems including investor pricing valuations and risk adjustments.

  • Direct the successful execution of strategic projects that advance PenFed's Secondary Marketing business and provides guidance on complex and escalated Loan Delivery issues.

  • Partner with Capital Markets and Mortgage Banking to support investor due diligence including but not limited to answering any investor questions, provide performance data, and ensure timely closure of the sale transaction.

  • Implement strategic initiatives and projects including Secondary Marketing product development.

  • Manage projects aimed at identifying process improvements to gain efficiencies with a focus on risk management.

  • Monitor and evaluate industry trends and meet regularly with management and stakeholders to discuss strategy.

  • Manage and motivate team members to ensure consistent and maximum performance levels.

  • Responsible for recruiting, training, and continuing professional development of staff to include coaching and addressing disciplinary issues.

  • Proactively monitor changes in the industry to mitigate risk and apply the market insight to guideline changes.

  • Maintain and share professional knowledge through education, networking, events, and presentations.

  • Participation in key MBA, secondary marketing, and credit union conferences.

  • Identify opportunities for improvement (e.g., for operating effectiveness and efficiency) and implement strategic solutions to address business needs.

  • Help 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 breaches.


Equivalent combination of education and experience is considered.

  • Bachelor's Degree in Business, Finance with preference for quantitative fields (e.g., Applied Math, Engineering, Statistics, Predictive modeling) or a related field is required.

  • Master's Degree in Business, Finance, or in a quantitative field is preferred.

  • Minimum of twelve (12) years' experience in a financial services field.

  • Minimum of eight (8) years' experience developing secondary marketing Business to Business (B2B) relationships.

  • Minimum of five (5) years' management experience.

  • A strong understanding of Capital Markets, partner activities, industry dynamics, and mortgage trends.

  • Ability to manage multiple complex projects, with shifting priorities that require the ability to work with ambiguous issues and see relationships between them.

  • Demonstrated record of accomplishment of driving mortgage loan sales growth.

  • Proficient knowledge of secondary products, guidelines, pricing, and execution.

  • Ability to communicate effectively with all levels of the business including executive management.

Supervisory Responsibility

  • This position will supervise employees.

Licenses and Certifications

  • There are no additional 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.


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 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 .