Director, Condo/Coop Policy and Innovation
Are you someone who has experience in condo/coop project underwriting and risk management within the mortgage industry? Do you have a strong knowledge of loan origination and servicing processes? Do you have the ability to engage, collaborate and influence stakeholders to drive execution? Do you have a thorough understanding and passion for the development of people? If you know what it takes to successfully lead a team, we are your next destination employer! Apply to join Freddie Mac’s Single Family division as our Director of Condo/Coop, Collateral. The Director Condo/Coop role is based in McLean, VA, and will manage a team of employees. This position will directly report to the Vice President, Collateral. Your work falls into three primary categories:
* Champion the development of innovative tools (Loan Advisor Suite) to support originations of mortgages in condo/coop projects that bring greater transparency to lenders and Freddie Mac on risks embedded in new originations. Deploy, evaluate and monitor innovative solutions that re-image the mortgage experience while adhering to Company risk policies.
* Establish efficient and effective processes to manage collateral risk associated with condominium and cooperative projects and drive/implement the Company’s condo/coop collateral risk policies and standards.
* Develop, maintain and approve Freddie Mac’s SF condo/coop collateral risk policies and terms of business.
* Demonstrate a commitment to customer excellence. Provide expertise in advising and interacting with clients to address market needs within our risk appetite.
* Identify and maintain appropriate controls and reporting to ensure business strategies (Market Leadership, Innovation, and Customer Excellence) are achieved within the established corporate risk appetite.
* Establish and follow appropriate governance and escalation processes to identify and report on emerging trends related to condo and coop projects. Provide oversight and approval of activities consistent with Corporate and Divisional Delegation of Authorities.
* Establish priorities and ensure alignment with departmental, divisional, and corporate objectives. Provide on-going guidance and advice.
* Ensure processes are in place to provide awareness, monitoring and responses to address competitive landscape regarding policy and offerings.
* Regularly interact with management within Freddie Mac, with Freddie Mac’s seller/servicers, and with FHFA on the effectiveness of SF collateral risk policies and performance. *
* Continuously monitor the economic environment and its impact on Company policies, performance, and products. Proactively adjust condo/coop risk policies to meet the needs of the changing market place within the firm’s risk appetite.
* Ensure effective recruitment, development, performance, and retention of team.
* An undergraduate degree is required. An MBA in Finance, Business, Accounting or related field is preferred.
* 7-10 years’ experience in financial services with specific experience in condo/coop underwriting and risk management.
* Minimum of 12+ years of related experience and 7+ years leadership/management experience
* S/he will have strong knowledge of loan origination and servicing processes
Keys to success in this role
* Proven abilities to analyze risk using quantitative and qualitative information; Excellent analytical and problem solving skills.
* Proven ability to develop goal oriented plan and execute.
* Effective leadership and management skills.
* Proactive, well organized and results-oriented, with the ability to lead and participate in multiple projects simultaneously, within a time-sensitive environment.
* Excellent communication and interpersonal skills.
* A leader who embraces innovation and questions the status quo.
Top 3 Personal Competencies to possess
* Leadership – Set and execute upon a clear vision, strategy and/or goals
* Seek & Embrace Change – Continuously improve work processes rather than accepting the status quo
* Customer Focus – Seek and use data and feedback to enhance customer outcomes
An MBA in Finance, Business, Accounting or related field is preferred.
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.