Counterparty Credit Risk Senior Director

Freddie Mac • McLean, VA

286d • $198,000 - $298,000

About The Position

At Freddie Mac, you will do important work to build a better housing finance system and you'll be part of a team helping to make homeownership and rental housing more accessible and affordable across the nation. The Senior Director - Counterparty Credit Risk reports to the Vice President - Enterprise Market and Liquidity Risk in the Enterprise Risk Division led by Freddie Mac's Chief Risk Officer. The position is responsible for leading independent oversight and effective challenge of the company's management of financial risk exposures across our counterparty relationships with seller/servicers, mortgage insurers and reinsurers, and capital markets counterparties. The position engages broadly across the company with senior leaders, in addition to industry experts, rating agencies, and regulators to ensure effective risk management of counterparty risk exposures.

Requirements

• 12+ years of experience in a combination of leadership roles in credit risk management.
• Quantitative degree preferred; Master's degree or professional certifications (e.g., FRM, CFA) a plus.
• Ability to analyze complex financial data, assess counterparty financial strength, measure exposures, and provide strategic recommendations.
• Expertise in mortgage and fixed income products, model loss estimation, and counterparty risk management frameworks.
• Understanding of uncertainties and limitations of models, methodologies, and judgments used to measure and manage counterparty credit risk.
• Strong decision-making skills with the ability to work under pressure effectively to resolve critical issues.
• Strong leadership skills with the ability to influence, drive decision-making, and lead and develop teams managing risk across complex financial portfolios.
• Experience with risk management software and financial analysis tools (e.g., Python, R, Excel).
• Excellent verbal and written communication skills with the ability to communicate complex information to a broad range of audiences, including senior management and regulators, in a clear and actionable manner.

Nice To Haves

• Effective collaboration to build trust and increase efficiency across the three lines (Investments and Capital Markets Division, Enterprise Risk Division, and Internal Audit) and with FHFA.
• Ability to communicate effectively and efficiently.
• Expertise and authority to maintain independence, critically review, and provide effective challenge of the company's counterparty risk management practices and risk-taking activities.
• Ability to prioritize across multiple competing tasks, manage teams effectively, and deliver timely, high-quality, and well-documented oversight outcomes.
• Strong organization skills, analytical approach, and ability to work in a fast-paced environment against tight deadlines.
• Remain current on the latest financial risk management developments, regulations, and industry trends.
• Ability to attract and develop risk talent.

Responsibilities

• Lead a dedicated team of professionals to provide independent oversight and effective challenge of the company's management of counterparty credit risk exposures.
• Build and maintain governance, policies, and standards that define how the company manages counterparty credit risks to support safety and soundness and align with legal, regulatory, and conservator requirements.
• Evaluate processes and risks and assess controls used for managing counterparty credit risk and develop independent risk oversight processes and controls.
• Conduct independent risk assessments and issue effective challenge as part of monitoring activities.
• Monitor counterparty credit risk profile, key risk indicators, and performance against risk appetite limits and thresholds for aggregate as well as single name exposures.
• Oversee stress testing estimates of counterparty credit losses; assess assumptions, identify limitations, and review results for reasonableness.
• Conduct counterparty model use assessments and method reviews.
• Monitor industry and sector trends, individual counterparty news, market activity, and evolving macroeconomic conditions to inform counterparty credit risk oversight.
• Report to the Chief Compliance Officer on compliance with regulatory obligations.
• Oversee counterparty credit risk including monitoring ratings framework and ratings review assignments for individual counterparties.
• Assess and report on significant exposure concentrations.
• Evaluate margin and collateral guidelines for adequacy in mitigating counterparty losses.
• Monitor processes and outcomes related to placement of individual counterparties on targeted watchlists.
• Oversee and challenge risk mitigation action plans designed to address limit breaches or other imminent sources of counterparty default risk.

Benefits

• Competitive compensation and market-leading benefit programs.
• Annual incentive program eligibility.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: Master's degree