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Position Overview:
Are you excited by the chance to create an impact and work in a dynamic flexible environment? Do you have expertise in Model Risk Governance? If so, please consider this opportunity and apply to the Operational Risk Director role and work in conjunction with Single Family (SF) Acquisitions business leaders. Apply now to learn about our excellent benefits and why there’s #MoreAtFreddieMac!
Our Impact:
The Single-Family Acquisitions Division Risk Office is responsible for managing model-related compliance and operational risk for the division.
Your Impact:
The Operational Risk Director will be responsible for maturing and leading Model governance activities to effectively manage model risk. Responsibilities include:
- Apply the firm’s Model Risk Policy, Standard and Procedure and recommend improvements and efficiencies to mature the execution of the model risk program.
- Implement and contribute to maturing division-specific Model risk management policies, strategies and operational procedures to create a high-quality, risk-aware culture in compliance with corporate Model policies, standards and procedures.
- Design process and controls to effectively mitigate risk.
- Develop a culture and operating framework that proactively supports Model Business Owners to address Model risk-related challenges.
- Establish governance routines and schedules to ensure corporately required Model requirements are implemented timely and accurately.
- Provide direction, guidance and training/coaching to equip Model-related roles in their implementation of Model-lifecycle plans and deliverables (e.g., data quality plan, Model documentation development/retention, user acceptance test support, Model use relationship inventory, Model performance monitoring).
- Oversee the process for monitoring second line of defense feedback and partnering with relevant stakeholders to disposition findings in a timely manner.
- Lead work on issues where analysis of situations or data requires an in-depth knowledge of organizational and Model risk reduction objectives.
- Lead work on Model risk assessments to advise Model risk levels and tiering in collaboration with Model stakeholders and the Division Risk and Control team.
- Work with Model stakeholders and divisional governance teams to lead work on gap assessments between current practice and corporate policies/standards and applicable legal/regulatory obligations; partner with Model stakeholders to develop necessary procedures to fill the gaps in a timely manner.
- Collaborate with the Division Risk and Control team to develop processes and procedures for tracking and addressing Audit and Regulatory exam requests and inquiries completely and timely.
- Manage the production of regular Model monitoring reports (e.g., ongoing Model performance monitoring, Model metrics and periodic reviews) with results provided to the Division Risk Office and Division Risk and Control team.
- Oversee the development of presentations to be used in quarterly meetings (e.g., Division Model Risk Forum and Model Risk Committee).
- Ensure adherence to budgets, schedules, work plans, and performance requirements.
- Interact regularly with senior management and executive levels on matters concerning several functional areas and divisions.
- Requires the ability to change the thinking of, or gain acceptance from, others in sensitive situations, without damage to relationship.
- Build a high performing, result-oriented team.
Qualifications:
- 12+ years related experience and 4+ years management experience.
- Experience in reporting activities – running queries, designing and presenting management reports.
- Solid understanding and experience with technology risk management, governance routines and controls.
- Ability to collaborate with business leadership to design effective and efficient processes.
- Bachelor’s degree or equivalent experience; advanced studies/degree preferred.
Keys to Success in this Role:
- High ethical standards, excellent judgment, sense of personal initiative, ability to interact constructively with colleagues at all levels of the organization.
- Self‐motivated, with the capability of managing multiple priorities and efficient in proposing solutions.
- Must have strong leadership and strategic planning skills, people management skills and track record of leading teams through significant change and fast-paced environment.
- Flexible and adaptable, capable of working effectively in a fluid and evolving business and regulatory environment.
- Ability to develop strong relationships across the organization to promote a more collaborative environment.
- Ability and willingness to tackle sophisticated projects and find practical solutions.
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.
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 $197,000 - $295,000 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.
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