Senior Ancillary Product Strategy & Performance Manager

PenFed Credit Union • West McLean, VA

3d • Hybrid

About The Position

PenFed is hiring a (Hybrid) Senior Ancillary Product Strategy & Performance Manager at our Tysons, Virginia; Omaha, Nebraska; San Antonio, Texas; Irving, Texas; or Eugene, Oregon location. The Sr Manager of Ancillary Product Strategy & Performance is responsible for developing and executing the strategic roadmap for PenFed s ancillary product portfolio across all Consumer Lending channels, including Auto and Unsecured Lending. This role ensures that member protection and value-added products, such as GAP, Vehicle Protection Plans, Credit Protection, and similar offerings deliver strong financial performance, regulatory compliance, and exceptional member value. Equivalent combination of education and experience is considered. 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 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.

Requirements

• Bachelor s degree in business, Finance, Economics, or related field required.
• Minimum of eight (8) years of experience in consumer lending, product management, or financial performance management, preferably within auto or unsecured lending.
• Minimum of three (3) years in product management or analytical leadership role.
• Demonstrated understanding of ancillary or protection products such as GAP, VPP, Credit Protection, and related programs.
• Strong financial modeling, pricing, and performance-analysis skills with proven ability to translate insights into strategic actions.
• Experience managing vendor relationships and ensuring compliance in a regulated environment.
• Excellent communication, presentation, and cross-functional collaboration skills.
• Proficiency with business-intelligence tools (Tableau, Power BI, or equivalent) and advanced Microsoft Excel skills; Salesforce Financial Services Cloud experience preferred.
• Ability to travel to various worksites and be on-call may be required.

Nice To Haves

• Salesforce Financial Services Cloud experience preferred.

Responsibilities

• Product Strategy & Portfolio Oversight Develop and execute the strategic plan for ancillary products across Auto and Unsecured Lending portfolios.
• Define product goals, KPIs, and pricing strategies that optimize penetration, profitability, and member satisfaction.
• Partner with Finance and Product Strategy teams to establish business cases, growth targets, and performance benchmarks.
• Ensure product positioning and features align with PenFed s mission, member needs, and risk appetite.
• Monitor portfolio trends, market conditions, and competitive developments to inform product decisions and future enhancements.
• Performance Management & Financial Optimization Own financial results for the ancillary product portfolio, including revenue, margin, refund trends, and loss ratios.
• Track and analyze key performance metrics, recommending strategic or pricing adjustments as needed.
• Deliver regular reporting and executive-level insights highlight business performance, risks, and opportunities.
• Partner & Vendor Strategy Manage relationships with external administrators and insurance providers supporting PenFed s ancillary programs.
• Monitor vendor compliance with regulatory, operational, and member-experience standards.
• Identify opportunities to innovate or enhance existing programs through new partnerships or revised program structures.
• Member Experience & Channel Enablement Partner with Auto and Unsecured Lending teams to enhance product presentation and member education across digital and branch channels.
• Support Marketing and Operations in developing compliant training and communication materials that promote responsible sales and informed member choice.
• Evaluate Voice-of-Member feedback and satisfaction metrics to inform product improvements and experience design.
• Innovation & Product Development Research emerging trends in consumer protection and fintech innovation to identify new product opportunities.
• Lead or support pilot initiatives designed to expand the ancillary portfolio or improve member outcomes.
• Recommend enhancements to product mix, pricing models, and distribution strategies based on market data and member insights.

Benefits

• 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.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Number of Employees: 1,001-5,000 employees