At Freddie Mac, you will do important work to build a better housing finance system and you'll be part of a team helping to make homeownership and rental housing more accessible and affordable across the nation.
Position Overview:
Are you excited by the chance to create an impact and work in a dynamic environment? Do you have expertise in Model Risk Governance? If so, please consider this opportunity and apply for the Model Risk & Controls Manager position and work in conjunction with Investment & Capital Markets (I&CM) business leaders and modeling teams. Apply now and learn why there's #MoreAtFreddieMac!
The I&CM Division at Freddie Mac provides liquidity to the U.S. Mortgage Markets and makes funding more available by purchasing mortgage-related securities guaranteed by Freddie Mac and other financial institutions by issuing corporate debt. Our expertise in capital markets and credit risk management has helped us to lead the market in offering private investors new and innovative ways to invest in the U.S. residential housing market and actively reduce less liquid loans from our investments portfolio.
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Our Impact:
Divisional Model Governance is a first line of defense risk governance team. We act as trusted advisors for our business and model partners as we proactively support them with governance activities throughout a model life cycle, manage model related compliance and operational risks for the division.
Your Impact:
As a Model Governance Risk Director, you will be responsible for developing and implementing model governance activities to effectively manage model risk and over time mature this function. This role will provide opportunities to broaden your business and risk competence skills, strengthen your customer engagement and leadership skills. As a people manager you will mentor and develop your team. Responsibilities include:
- Implement and follow the Corporate Model Risk Policy and associated Standard(s)
- Develop and implement a divisional model governance process and procedure that meets corporate requirements and creates a risk-aware culture
- Significantly contribute to efforts to mature model governance capabilities and find opportunities to innovate, streamline and reduce inefficiencies
- Proactively lead governance activities for I&CM owned models, track various activities to ensure their timely execution
- Proactively work with Model Business Owners, Model Development Owners, and other relevant partners in the division on model risk-related challenges
- Manage model change pipeline and ensure timely UAT and implementation
- Build constructive working relationships within I&CM, peers in other divisions, EMR, Internal Audit and Regulatory Affairs
- Provide support to the model partners during EMR oversight activities, Internal Audit exams and FHFA exams
- Proactively remediate EMR Findings and partner with Risk & Controls team on issue remediation activities
- Collaborate with relevant partners and divisional governance teams to conduct gap assessments of applicable corporate policies/standards and applicable legal/regulatory obligations
- Actively engaged in identifying and assessing risks and controls during quarterly Risk & Control Self Assessments
- Periodically implement model governance related controls. Point for contact for SOX testing and enquiries from external auditors. Engage Segment Controller appropriately as needed
- Liaison with relevant model partners and provide assessments for strategic change initiatives
- Produce model related reporting for various committees and lead the divisional model related forum
- Mentor, manage staff and built a high performing team.
- Undertake ad-hoc projects as needed
Qualifications:
- Demonstrated experience and expertise in model governance preferably in investment and capital markets
- 12+ years of related experience with 4+ years people management experience
- Degree or equivalent experience in Economics, Finance, Statistics, or related fields preferred
- Self-motivated, with the gravitas to interact effectively with various partners
- Strong analytical and problem-solving skills with a high level of attention to details
- Change mentality and has desire to continuously improve and innovate
- Excellent written and verbal communication skills
Keys to Success in this Role:
- Strong Project Management skills
- Ability and willingness to tackle complex projects and find practical solutions
- Lead and adapt to change in a fluid environment while continuing to deliver quality deliverables
- Ability to develop positive relationships across the organization to promote a more collaborative environment.
- High ethical standards, excellent judgment, and a sense of personal initiative
Current Freddie Mac employees please apply through the internal career site.
Today, Freddie Mac makes home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Join our smart, creative and dedicated team and you'll do important work for the housing finance system and make a difference in the lives of others.
We are an equal opportunity employer and value diversity and inclusion at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status or any other characteristic protected by applicable law. We will ensure that individuals with differing abilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.
CA Applicants: Qualified applications with arrest or conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.
Notice to External Search Firms: Freddie Mac partners with BountyJobs for contingency search business through outside firms. Resumes received outside the BountyJobs system will be considered unsolicited and Freddie Mac will not be obligated to pay a placement fee. If interested in learning more, please visit www.BountyJobs.com and register with our referral code: MAC.
Time-type:Full time
FLSA Status:Exempt
Freddie Mac offers a comprehensive total rewards package to include competitive compensation and market-leading benefit programs. Information on these benefit programs is available on our Careers site.
This position has an annualized market-based salary range of $202,000 - $302,000 and is eligible to participate in the annual incentive program. The final salary offered will generally fall within this range and is dependent on various factors including but not limited to the responsibilities of the position, experience, skill set, internal pay equity and other relevant qualifications of the applicant.