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:
The Enterprise Models and Methods Operations and Governance team within Enterprise Risk Management (ERM) division has an opening for a Model Risk & Controls Manager. This dynamic and highly collaborative team implements and performs oversight of the models and methods risk governance across the company and in line with Federal Housing Finance Agency ("FHFA") expectations. The team also operates the integrated Financial Risk and Control Function for the ERM financial risk and model risk areas. This individual will play a meaningful role in the oversight of model risks and controls across the model community within each of the Divisions. Apply now and learn why there's #MoreAtFreddieMac!
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Our Impact:
The team has three primary objectives for model controls:
- Recommend, and enhance operational risks and controls for model risk of ERM.
- Develop monitoring activities of model risk related operational controls within ERM and first line Divisions that will become inputs into monthly and quarterly reporting (including Divisional Self Assessments).
- Perform oversight of model risk related Operational, Compliance and SOX controls across Freddie Mac.
Your Impact:
Partner with other team members to perform oversight and effective challenge of model controls, working closely with other risk functions and the first line to build sustainable model controls and comprehensive model controls monitoring and reporting. Key responsibilities include:
- Lead risk and control assessments of business units model risk exposures; identifying risks, evaluating their potential impact, and reviewing the strengths and weaknesses of the Divisions' existing controls.
- Build positive relationships with the first line of defense; discuss risk and control outcomes and effective challenges, to be actioned by first line and viewed as a trusted "go to" partner.
- Develop knowledge and understanding of the processes, standards and procedures and tools to execute the model risk oversight routines.
- Complete monitoring activities that will become inputs into monthly and quarterly reporting highlighting significant model risk exposures, emerging risks, effective challenges and first line risk management strategies that impact and/or relate to the Model Risk.
- Assist the team lead to establish, implement and maintain operational controls for models, model application and model processes for the team.
Qualifications:
- Bachelor's Degree in related field and 8+ years of overall relevant experience
- 5+ years of experience in model governance and/or operational risk management
- Understanding of model risks and management practices, ideally including regulatory requirements and expectations
- Understanding and experience with operational risk management, covering the full lifecycle of activities, including risk identification, assessment, mitigation, monitoring, and reporting
- Experience executing effective challenge to the first line with respect to operational risk
- Experience with design and testing of model/operational controls is a plus
- Ability to take ownership and collaborate with diverse group of partners
Keys to Success in this Role:
- Critical thinking, strong problem-solving skills, and attention to detail
- Strong written, verbal, communication skills, and the ability to communicate appropriately at all levels of the organization including visualizations.
- Sense of urgency and able to apply risk-based approach to prioritize work
- Ability to adapt to change while continuing to deliver on assigned task
- Proven ability to leverage data and analytics and apply it to inform on risk perspectives
- Understand and use workflow tools to drive new/enhanced functionality for supporting controls monitoring and reporting
- Provide thoughtful fact-based effective challenge to the first line in a clear, concise, and risk-based approach
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.
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 $126,000 - $190,000 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.