Financial Forecast & Stress Testing - Governance and Controls Senior

Freddie Mac

4d•$103,000 - $155,000

About The Position

At Freddie Mac, our mission of Making Home Possible is what motivates us, and it’s at the core of everything we do. Since our charter in 1970, we have made home possible for more than 90 million families across the country. Continue your career journey where your work contributes to a greater purpose. Position Overview: The Financial Forecast & Stress Testing (FF&ST) team’s governance and controls senior plays a critical role in supporting the Financial Forecast process in the Finance Division. The Financial Forecast process spans multiple departments and divisions across the organization. In order for this process to be well-governed and operated in a controlled manner, the governance and controls senior (reporting to the governance and controls senior manager) supports the following: From end-to-end financial forecast perspective, develop guidance and procedures to be followed by all Financial Forecast process/subprocess owners to drive execution and documentation (e.g., flow charts) consistency Develop corporate risks and controls framework for scenario design and financial forecast consolidation teams, and support/provide guidance to subprocess owners to develop consistent risks and controls for their financial forecast subprocesses (e.g., identify potential control gaps or new controls needed from process changes) Work with process/subprocess owners to establish consistent approach to a minimum level of controls across different financial forecast executions Maintain overall data integrity within the corporate Governance Risk and Controls (GRC) tool for all financial forecast risks, controls, key control testing results, and issues Work with process/subprocess owners to identify/update control mappings to comply with various corporate requirements – e.g., mapping controls to critical data elements and regulatory obligations Work with process/subprocess owners to identify the models, model applications, methods, and end user computing (EUC) usage within their financial forecast executions and follow governance and control requirements Support the closure of issues logged in the GRC tool, internal audits, second line independent risk assessments, regulatory ongoing monitoring and targeted exams, and key control testing programs, among other items, that impact the Financial Forecast process Perform gap analyses on corporate policies and standards impacting the financial forecast Develop tools, automation, and use of AI to improve our risk and control first line oversight tools Our Impact: We collaborate with Finance Division CFOs, Division Risk Officers, Enterprise Risk, Enterprise Model Risk, Enterprise Business Risk & Control Office, Internal Audit, and others to provide guidance, governance, and process enhancements to the Financial Forecast process, increasing efficiency while maintaining effective risk management practices We directly support the Financial Forecast process and subprocess owners as a first line process-risk-control SME Your Impact: You will collaborate with outside teams to build and enhance governance in their subprocess’s role in the Financial Forecast, including subprocess documentation (flow charts), risk & control data management/monitoring, and model, model application, method, & EUC usage/registration You will support Financial Forecast process/subprocess owners to perform risk & control self-assessments (RCSAs) across departments in Finance as well as in other divisions You will help design and improve our tools for monitoring risks, controls, and model usages from end-to-end process perspective. You will help interpret how various process execution changes across entire end-to-end process impact the various flow charts/risks/controls

Requirements

5+ years of experience in finance or risk management, preferably with internal/external audit or management consulting background.
Bachelor’s degree in accounting, finance, business administration, or related field
Good understanding of operational risk management principles and control frameworks
Strong working knowledge of Microsoft Office (Excel, PowerPoint, Word, SharePoint, Visio)
Strong analytical and problem-solving skills with attention to details
Clear communication skills and ability to understand complex operational steps and translate into simple and easily understood terms via the risks, controls, and flow chart documentation
Ability to work effectively in dynamic fast-paced environment
Team player with positive and motivated attitude
Ability to manage multiple priorities and work within tight timeframes while also looking for opportunities to improve processes outside of normal day-to-day deliverables
Capable of working independently or within a collaborative team environment
Be flexible and comfortable with changes and ambiguity

Responsibilities

From end-to-end financial forecast perspective, develop guidance and procedures to be followed by all Financial Forecast process/subprocess owners to drive execution and documentation (e.g., flow charts) consistency
Develop corporate risks and controls framework for scenario design and financial forecast consolidation teams, and support/provide guidance to subprocess owners to develop consistent risks and controls for their financial forecast subprocesses (e.g., identify potential control gaps or new controls needed from process changes)
Work with process/subprocess owners to establish consistent approach to a minimum level of controls across different financial forecast executions
Maintain overall data integrity within the corporate Governance Risk and Controls (GRC) tool for all financial forecast risks, controls, key control testing results, and issues
Work with process/subprocess owners to identify/update control mappings to comply with various corporate requirements – e.g., mapping controls to critical data elements and regulatory obligations
Work with process/subprocess owners to identify the models, model applications, methods, and end user computing (EUC) usage within their financial forecast executions and follow governance and control requirements
Support the closure of issues logged in the GRC tool, internal audits, second line independent risk assessments, regulatory ongoing monitoring and targeted exams, and key control testing programs, among other items, that impact the Financial Forecast process
Perform gap analyses on corporate policies and standards impacting the financial forecast
Develop tools, automation, and use of AI to improve our risk and control first line oversight tools
collaborate with outside teams to build and enhance governance in their subprocess’s role in the Financial Forecast, including subprocess documentation (flow charts), risk & control data management/monitoring, and model, model application, method, & EUC usage/registration
support Financial Forecast process/subprocess owners to perform risk & control self-assessments (RCSAs) across departments in Finance as well as in other divisions
help design and improve our tools for monitoring risks, controls, and model usages from end-to-end process perspective. You will help interpret how various process execution changes across entire end-to-end process impact the various flow charts/risks/controls