Freddie Mac - McLean, VA
posted about 1 month ago
Full-time - Senior
McLean, VA
Credit Intermediation and Related Activities
About the position
The Enterprise Model Governance (EMG) Director at Freddie Mac plays a crucial role in enhancing the housing finance system by overseeing model governance across the Investments & Capital Markets divisions. This position is responsible for developing guidance for Model Risk Management, ensuring adherence to procedures, and consolidating metrics for reporting. The director will collaborate with senior leadership and various governance groups to address model-specific guidance and promote effective 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 and Enterprise Operations & Technology when model-specific guidance is needed related to other risk domains.
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.
- Understanding and experience with operational risk management, covering the full lifecycle of activities, including risk identification, assessment, mitigation, monitoring, and reporting.
- Experience with design and testing of model/operational controls is a plus.
- Ability to take ownership and collaborate with diverse group of partners.
Nice-to-haves
- Strong EXCEL skills to analyze large datasets efficiently and methodically.
- Proven ability to use data and analytics and apply it to inform on risk perspectives.
- Capability to guide and influence others in the adoption and implementation of policies and standards.
Benefits
- Competitive compensation
- Market-leading benefit programs
- Annual incentive program
