Company Description
At Fannie Mae, futures are made. The inspiring work we do helps make a home a possibility for millions of homeowners and renters. Every day offers compelling opportunities to impact the future of the housing industry while being part of an inclusive team thriving in an energizing, flexible environment. Here, you will grow your career and help create access to fair, affordable housing finance.
Job Description
As a valued colleague in our model risk audit team, you will participate in audit planning and execution in model risk related audits covering various areas of the mortgage finance business. You will conduct effective challenges on model risk management framework and on the effectiveness of model risk controls for enterprise-wide models covering mortgage products and securities. You will also be engaged with continuous monitoring to facilitate identification of emerging risk and risk assessment.
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THE IMPACT YOU WILL MAKE
The Internal Audit - Quantitative Model Risk - Senior Associate role will offer you the flexibility to make each day your own, while working alongside people who care so that you can deliver on the following responsibilities:
- Participate in planning and execution of model audit engagements and technical audit reviews of models. Provide credible challenge in auditing the modeling practices across the enterprise, including evaluation of development documentation, validation activities and ongoing model performance monitoring.
- Apply specialized technical knowledge and expertise to perform model reviews in any or more of the following areas related to mortgage finance activities: credit risk, counterparty credit risk, and interest rate risk.
- Engage in continuous model risk assessments and monitoring in coverage areas.
- Build and maintain relationships with business partners. Provide advice and share Internal Audit knowledge with business partner managers and staff to strengthen governance, risk and control environments, as appropriate.
- Understand model risk regulatory requirements, supervisory guidance (e.g. SR 11-7), model risk policy and current industry practices in credit, interest rate or counterparty credit risk modeling.
- Communicate technical subject matter clearly and concisely.
Qualifications
Required Experience
- Bachelor's degree in areas of Statistics, Quantitative Finance, Financial Engineering, Economics, or related quantitative discipline
- 2+ years' Quantitative Analytics experience in the development, validation or auditing in any or more of areas in credit, interest rate, counterparty credit risk, and / or fixed income valuation models in the financial services industry
- Strong analytical skills with attention to details; critical thinking
- Strong written and verbal communication skills
- Project management skills
- Being proficient in one programming language (e.g. R, Python, SAS, etc.)
- Self-motivated
Desired Experience
- Advanced degree (Master or Ph.D.) in quantitative Finance disciplines.
- Professional certification, such as CFA, FRM, CIA
- 2+ years of model risk management experience and / or auditing experience at a large financial institution or consulting firm
- Knowledge of mortgage finance and secondary mortgage market
- Knowledge of credit risk modeling of single-family and multi-family mortgages
- Knowledge of interest rate management practices
Additional Information
The future is what you make it to be. Discover compelling opportunities at careers.fanniemae.com.
Fannie Mae is an Equal Opportunity Employer, which means we are committed to fostering a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, religion, national origin, gender, gender identity, sexual orientation, personal appearance, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation in the application process, email us at [email protected].
The hiring range for this role is set forth on each of our job postings located on Fannie Mae's Career Site. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being. See more here.