Overview

PenFed is hiring a (Hybrid) Consumer Banking Business Development Manager at our Tysons, Virginia location. The Consumer Banking Business Development Manager will support PenFed's consumer banking growth initiatives focusing on expanding consumer banking relationships, product adoption, and market reach through external partnerships, affinity programs, universities, associations, employers, and other appropriate channels. This role is responsible for helping identify, develop, coordinate, and support strategic relationships that drive sustainable growth across consumer banking products.

This role will assist in executing the go-to-market strategy for engaging and building scalable partnership ecosystems, sourcing new distribution opportunities, and expanding consumer acquisition channels. This role requires close collaboration across consumer banking, lending, marketing, digital channels, legal, compliance, risk, operations, and technology teams to support growth strategies aligned with organizational objectives, member/customer experience expectations, and regulatory standards.

Responsibilities

Reasonable accommodation 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.

• Support the execution of business development strategies focused on expanding consumer banking growth and lowering overall acquisition costs.
• Assist in identifying, sourcing, evaluating, and coordinating partnership opportunities that increase acquisition, engagement, and retention of consumer banking customers/members across deposits, auto lending, credit cards, personal loans, and adjacent banking products.
• Build and maintain a robust pipeline of strategic relationships and growth opportunities by proactively monitoring market trends, emerging distribution channels, embedded finance opportunities, and competitive developments within financial services and fintech ecosystems.
• Support partnership structuring, contract coordination, financial analysis, and business case development for prospective relationships, ensuring alignment with profitability targets, growth objectives, operational capabilities, and risk appetite.
• Collaborate with marketing and product partners to develop co-branded, affinity-based, and targeted acquisition campaigns designed to increase product penetration, account growth, and consumer engagement across key market segments.
• Assist in establishing and managing strategic relationships such as universities, alumni associations, employer groups, community organizations, and affinity-based entities to drive consumer banking awareness, account acquisition, and long-term relationship growth.
• Coordinate cross-functional implementation activities for new partnerships and programs, including operational readiness, compliance reviews, systems integration, servicing workflows, training, and performance measurement.
• Monitor and analyze partnership performance metrics including account growth, deposit generation, loan production, customer acquisition cost, portfolio profitability, engagement trends, and return on investment.
• Maintain accurate Salesforce records, pipeline updates, partner activity notes, opportunity data, and reporting inputs to support visibility, forecasting, performance measurement, and data-driven decision making.
• Provide research, reporting, and analytical support to leadership regarding market expansion opportunities, partnership strategies, competitive positioning, and emerging consumer banking trends impacting growth and acquisition strategies.
• Ensure all business development activities comply with applicable regulatory requirements, institutional policies, third-party risk standards, and consumer protection expectations.
• Assist in representing the institution externally through industry conferences, strategic networking events, association meetings, university engagements, and partnership development activities to strengthen brand presence and cultivate growth opportunities.

Qualifications

Equivalent combination of education and experience is considered.

• Bachelor's degree in related field required; MBA or advanced business degree strongly preferred.
• Minimum of six (6) years of experience in business development with an emphasis on strategic partnerships, affinity program management, payments, fintech partnerships, and/or growth strategy within a financial institution.
• Proven track record of developing and managing strategic partnerships that drive measurable growth in consumer banking products including deposits, lending, cards, and digital banking services.
• Strong understanding of consumer banking products and economics, including deposits, auto lending, credit cards, unsecured lending, and customer lifecycle management.
• Experience supporting partnership agreements, affinity relationships, co-brand arrangements, referral programs, and platform-based business development initiatives.
• Knowledge of embedded finance, digital banking ecosystems, fintech partnerships, Banking-as-a-Service (BaaS), and emerging consumer acquisition models preferred.
• Strong financial and analytical skills with the ability to evaluate partnership economics, develop business cases, assess ROI, and monitor performance metrics effectively.
• Excellent communication, presentation, and relationship management skills with experience engaging external partners and cross-functional stakeholders.
• Ability to collaborate across a matrixed organization while balancing growth objectives, operational capabilities, compliance considerations, and customer experience priorities.
• Strong understanding of regulatory and compliance considerations related to consumer banking, third-party partnerships, UDAAP, fair lending, privacy requirements, and consumer protection standards.
• Strategic thinker with a growth-oriented mindset and demonstrated ability to identify innovative opportunities that enhance market reach, acquisition, and long-term customer value.
• Familiarity with Salesforce or similar CRM platforms is strongly preferred, including pipeline management, opportunity tracking, activity documentation, data quality, reporting, and digital performance measurement.
• Exceptional organizational and project management skills with the ability to manage multiple initiatives, stakeholders, and timelines simultaneously in a fast-paced environment.
• Professional presence and ability to represent the institution effectively in external-facing business development and partnership settings.
• Willingness to travel as needed for partner meetings, conferences, university engagements, and strategic business development activities.
• Experience in using A.I. tools preferred.

Supervisory Responsibility

This position will not supervise employees.

Licenses and Certifications

No additional licenses 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 is required.

Pay Transparency
The anticipated starting salary range for this role is $79,400.00 - $153,458.00
This position is eligible for an organizational performance based annual bonus, subject to board discretion and approval.
This position is eligible for an individual performance based annual bonus.

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