Enterprise Model Risk Governance Manager

Employer
Freddie Mac
Location
McLean, VA
Posted
Jul 07, 2017
Closes
Aug 07, 2017
Ref
7320BR
Function
Management
Hours
Full Time
Position Overview
Freddie Mac’s Enterprise Model Risk Division is currently seeking a Model Risk Governance Manager to manage the governance of all Freddie’s models and the business processes using those models. The objective of the role is effective management of the Policy, Standards and Procedures to ensure a consistent model governance and review process.

Responsibilities include:
  • Manage all aspects of model policy, standards, and procedures throughout the lifecycle of all models used in the company including but not limited to Data, Model Theory and Framework, Estimation, Implementation, Model Use, Ongoing monitoring and Documentation.
  • Design and execute procedures to analyze and test governance over model use, model development, and model risk oversight.
  • Evaluate how effectively model controls are designed and operating and use this information to test the process, make recommendations for improvements and enhancements.
  • Review risk assessments conducted by validation teams to ensure validity, quality and consistency of reviews through detailed reviews of validation documents and findings.
  • Ensure adherence to Standards, Policy and Procedures by 1st and 2nd lines of defense.
  • Develop and foster an effective challenge environment within the validation team.
  • Create a detailed check list of validation requirements by model type.
  • Make expert recommendations to Directors and Lead Directors.
  • Work with Model Controls to ensure model risk tool is updated.
  • Working with model developers and users to manage model risks.
  • Ensure Model governance requirements are met and monitor compliance/adherence.


Basic Requirements
  • Bachelor’s or Master’s degree in Economics, Statistics, Mathematics or Finance or a directly related quantitative field
  • 5+ years of experience in model development or model risk management in areas such as credit risk, interest rate, mortgage and derivative valuation models
  • Strong knowledge of Word, Excel, PowerPoint, Visio
  • Excellent writing skills and strong interpersonal, business partnering and communication skills


Preferred Skills
  • Strong verbal and written communication skills
  • Strong analytical skills with attention to detail
  • Experience with mortgage analytics
  • Experience working in governance groups such as audit/legal/compliance with experience in model risk management
  • Strong familiarity/good understanding of statistical/econometric models
  • Strong organizational skills and ability to influence peers and seniors
  • Comfortable working as an individual contributor or in a group environment


Closing Statement
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. Freddie Mac is an equal opportunity and top diversity employer. EOE, M/F/D/V.