Director Enterprise Model Risk Governance

Freddie Mac•McLean, VA

2d•$162,000 - $242,000

About The Position

This role sits at the center of Freddie Mac’s enterprise model risk oversight, shaping how the company manages model risk across the business lines. As a people manager, you’ll strengthen model governance and model risk management. You’ll partner closely across Enterprise Risk including Financial Risk and Non-Financial Risk areas, and the business divisions to manage model risk. The position offers high visibility, meaningful influence on enterprise outcomes, and the opportunity to innovate in model and AI/ML governance, risk system build-out, and risk control optimization while developing and leading talent in a fast-paced environment. The Enterprise Model Risk (EMR) team within the Enterprise Risk Division is responsible for oversight and effective challenge of the company’s model risk. Together, we: Establish governance, policies, and standards that define how the company manages model risk to support safety and soundness Monitor and report on the risk and control profile, model risk appetite, and performance of risk indicators and metrics against thresholds and limits Communicate enterprise-wide model risk management issues and validation findings and monitor effective and timely issue/finding resolution Provide timely and independent oversight and effective challenge of the company’s model risk management practices Execute an integrated oversight plan in collaboration with Financial Risk and other Non-Financial Risk areas to support the Chief Risk Officer in providing senior management and the Board with an enterprise view of risks.

Requirements

At least 12 years of experience in model risk management, model governance, model validation, quantitative risk management, or related functions within a large, complex financial institution
Bachelor’s degree required; Master’s degree preferred in finance, economics, engineering, data science, or a related field
Proven leader with a track record of building, leading, and scaling high performing teams in complex organizations
Strong understanding of model risk management principles and regulatory expectations, including SR 11-7, 26-2 and FHFA model AB
Demonstrated experience in second line of defense model governance or model risk oversight within the financial services industry
Strong knowledge of model lifecycle practices, including model development, implementation, use, performance monitoring, change management, validation, and model retirement
Experience working with model risk management tools or systems, including business requirements development, workflow design, user acceptance testing, implementation support, or product ownership responsibilities
Understanding of key model types used in financial institutions, such as credit risk, loss forecasting, capital, valuation, pricing, fraud, underwriting, or decision models
Ability to provide effective challenge and independent oversight while building constructive partnerships with first line business and modeling teams
Experience supporting governance forums, management reporting, and communication of model risk issues to senior stakeholders
Familiarity with model risk systems, governance workflows, and enterprise model risk management
Strong leadership, decision-making, and organizational skills, with the ability to manage multiple priorities in a fast-paced environment
Excellent verbal and written communication skills with the ability to communicate complex model risk concepts clearly to a variety of audiences, including senior management and regulators

Nice To Haves

Effective collaboration to build trust and increase efficiency across the three lines, including the business and Finance Divisions, Enterprise Risk Division, and Internal Audit
Ability to communicate effectively and efficiently
Ability to prioritize across multiple competing tasks, manage teams effectively, and deliver timely, high-quality, and well-documented oversight outcomes
Strong organization skills, analytical mindset, 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

Responsibilities

Provide second line of defense governance and oversight across the enterprise model risk management framework
Lead model governance activities to promote consistent application of model risk policies, standards, procedures, and governance requirements across business lines
Partner with model owners, model developers, validators, and risk partners to support sound model lifecycle management, including model development, implementation, use, change management, performance monitoring, validation, and retirement
Support the development of model risk management tools and systems by partnering with business, technology, and operations teams on business requirements, workflow design, user acceptance testing, and implementation readiness
Contribute to enhancements in model risk systems, workflows, and reporting capabilities to improve transparency, traceability, and oversight effectiveness
Build strong partnerships with first line counterparts and across Enterprise Risk to strengthen model risk management practices and governance outcomes
Monitor industry trends, regulatory developments, and emerging practices in model risk management and AI/ML governance to inform program improvements
Identify opportunities for streamlining, optimizing and automating model risk processes and controls.
Develop, coach, and lead team members while fostering a culture of accountability, collaboration, and continuous improvement