Quantitative Analytics Manager - Model Validation

Employer
Freddie Mac
Location
McLean, VA
Salary
Competitive
Posted
Oct 04, 2019
Closes
Oct 15, 2019
Ref
12557BR
Function
Analyst
Hours
Full Time
Freddie Mac's Enterprise Risk Management Division is currently seeking a Model Validation Manager to perform all tasks related to model validation to evaluate and manage model risks associated with company's models. The objective of the role is to create and execute a complete model validation within the Enterprise Model Risk group with the purpose of enhancing a consistent model review process.

Your Work Falls Into Three Primary Categories

Technical Validation and Analysis
  • Conduct technical validation of the Freddie models - newly developed or existing models including any changes to existing models or model uses including writing a detail independent model validation report.
  • Assess model risks by performing detailed model validation reviews, evaluating performance thresholds, researching model approaches, creating alternative challenger/benchmark models.
  • Report findings to model owners and management, and ensure those findings are addressed appropriately and in a timely manner.
  • Ensure model developers follow sound model development practices throughout the lifecycle of a model as laid out in Freddie's Model Risk Standards and monitor compliance with model governance requirements
  • Working with model developers and users to manage model risks
  • Monitoring and reporting on model performance

Model Governance, Collaboration, Drive for Execution
  • Support MRA/other work streams related to the Model Risk governance framework
  • Support Freddie's annual DFAST submission process and governance
  • Actively support quarterly Loan Loss Reserve, overall CECL process and governance and controls related activities
  • Work with Model Controls to ensure model risk tool is updated
  • Follow Model Governance requirements

Partnership and Leadership
  • Develop and foster an effective challenge environment within the validation team.
  • Make expert recommendations to Lead Directors.


Qualifications

Qualifications
  • PhD or Masters in Finance, Economics, Statistics, Quantitative Finance, or a related quantitative field such as Physics, Mathematics, Engineering or working experience
  • Typically has 4-7+ years of experience in model development or model management in areas such as credit risk, CECL/loan loss reserve models, models used in DFAST submission, etc.
  • Strong organizational skills and ability to influence peers and seniors
  • Exceptional quantitative, empirical analysis, and research skills
  • Comfortable working as an individual contributor or in group environment
  • Programming skills in one or more of SAS, R, C, C++, Python, MATLAB or related languages

Keys to Success in this Role
  • Strong statistical/econometric modeling skills
  • Experience developing and/or validating models used in the real estate industry particularly Loan Loss Reserve/CECL modeling and DFAST
  • Strong analytical skills with orientation to detail
  • Excellent writing and presentation skills and strong interpersonal, business partnering and communication skills

Top 3 Personal Competencies to possess
  • Leadership: Set and execute upon a clear vision, strategy, and/or goals
  • Drive for Execution: Be accountable for strong individual and team performance
  • Customer Focus (Internal and External): Personally engage with customers to learn their needs


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.

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