Fannie Maeposted about 1 month ago
$121,000 - $158,000/Yr
Full-time • Mid Level
Remote • Washington, DC
Credit Intermediation and Related Activities

About the position

At Fannie Mae, the inspiring work we do helps make a home a possibility for millions of homeowners and renters. Every day offers compelling opportunities to impact the future of the housing industry while being part of a collaborative team thriving in an energizing environment. Here, you will grow your career and help create access to affordable housing finance. The Internal Audit - Quantitative Modeling - Senior Associate role will offer you the flexibility to make each day your own, while working alongside people who care so that you can deliver on the following responsibilities: Participate in planning and execution of model audit engagements and technical audit reviews of models. Provide credible challenge in auditing the modeling practices across the enterprise, including evaluation of development documentation, validation activities and ongoing model performance monitoring. Apply specialized technical knowledge and expertise to perform model reviews in any or more of the following areas related to mortgage finance activities: credit risk, counterparty credit risk, and interest rate risk. Engage in continuous model risk assessments and monitoring in coverage areas. Build and maintain relationships with business partners. Provide advice and share Internal Audit knowledge with business partner managers and staff to strengthen governance, risk and control environments, as appropriate. Understand model risk regulatory requirements, supervisory guidance (e.g. SR 11-7), model risk policy and current industry practices in credit, interest rate or counterparty credit risk modeling. Communicate technical subject matter clearly and concisely.

Responsibilities

  • Participate in planning and execution of model audit engagements and technical audit reviews of models.
  • Provide credible challenge in auditing the modeling practices across the enterprise.
  • Evaluate development documentation, validation activities and ongoing model performance monitoring.
  • Apply specialized technical knowledge and expertise to perform model reviews in areas related to mortgage finance activities.
  • Engage in continuous model risk assessments and monitoring in coverage areas.
  • Build and maintain relationships with business partners.
  • Provide advice and share Internal Audit knowledge with business partner managers and staff.
  • Understand model risk regulatory requirements and current industry practices.
  • Communicate technical subject matter clearly and concisely.

Requirements

  • Bachelor's degree in areas of Statistics, Quantitative Finance, Financial Engineering, Economics, or related quantitative discipline.
  • 2+ years' Quantitative Analytics experience in the development, validation or auditing in areas of credit, interest rate, counterparty credit risk, and/or fixed income valuation models.
  • Strong analytical skills with attention to details; critical thinking.
  • Strong written and verbal communication skills.
  • Project management skills.
  • Being proficient in one programming language (e.g. R, Python, SAS, etc.).
  • Self-motivated.

Nice-to-haves

  • Advanced degree (Master or Ph.D.) in quantitative Finance disciplines.
  • Professional certification, such as CFA, FRM, CIA.
  • 2+ years of model risk management experience and/or auditing experience at a large financial institution or consulting firm.
  • Knowledge of mortgage finance and secondary mortgage market.
  • Knowledge of credit risk modeling of single-family and multi-family mortgages.
  • Knowledge of interest rate management practices.

Benefits

  • Broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being.
  • Eligible to participate in a Fannie Mae incentive program.
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