Freddie Mac - McLean, VA
posted 27 days ago
Full-time - Senior
Hybrid - McLean, VA
Credit Intermediation and Related Activities
About the position
The Enterprise Model Governance (EMG) Director at Freddie Mac is responsible for overseeing model governance across the first line business divisions within Investments & Capital Markets. This role involves developing enterprise guidance for Model Risk Management, performing quality control reviews, consolidating divisional metrics, and monitoring key risk indicators. The director will collaborate with senior leadership and various enterprise governance groups to ensure effective model governance and risk management practices.
Responsibilities
- Develop enterprise guidance and procedure for Model Risk Management to enable consistent interpretation and implementation across the divisions.
- Perform Quality Control reviews of the model governance activities to promote adherence with the EMG procedure and guidance.
- Consolidate divisional metrics (including performance, risk and control metrics), model inventory and create periodic enterprise Model Risk reports for Model Risk Committee and other relevant meetings.
- Monitor model key risk indicators ("KRIs") and/or metrics for first line divisions and execute notification / escalation procedures when KRIs are operating outside of thresholds.
- Review and provide feedback on Agreed Upon Actions ("AUAs") impacting divisions and the enterprise.
- Collaborate with senior leadership, anticipate and address customer needs, appropriately tailor communications and training to best meet them.
- Partner with enterprise governance groups when model-specific guidance is needed related to another risk domain such as data, third party, AI/ML, technology.
Requirements
- Bachelor's Degree in related field and 12+ 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
- Experience with design and testing of model/operational controls is a plus
- Ability to take ownership and collaborate with diverse group of partners
- Strong written, verbal, communication skills, and the ability to communicate appropriately at all levels of the organization including visualizations.
- Strong EXCEL skills to analyze large datasets efficiently and methodically.
Nice-to-haves
- Experience with operational risk management, covering the full lifecycle of activities, including risk identification, assessment, mitigation, monitoring, and reporting
- Critical thinking, strong problem-solving skills, and attention to detail
- Capability to guide and influence others in the adoption and implementation of policies and standards, including leading and guiding the team
- Sense of urgency and able to apply risk-based approach to prioritize work
- Ability to adapt to change while continuing to deliver on assigned tasks
- Proven ability to use 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.
Benefits
- Competitive compensation
- Market-leading benefit programs
- Annual incentive program
