Lead, Enterprise Model Risk Governance

Freddie Mac•McLean, VA

22h•Onsite

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 member of the second line of defense, you will help strengthen model governance and model risk management practices across the enterprise. You will partner closely across Enterprise Risk, model owners, model developers, model validators, and business divisions to support effective governance over the model lifecycle. The position offers strong visibility, meaningful influence on enterprise outcomes, and the opportunity to enhance model governance processes, data, reporting, and model risk management systems in a fast-paced environment.

Requirements

Typically 8+ years of experience in model risk management, model governance, model development, model validation, or related risk management functions within a large, complex financial institution
Bachelor’s degree required in finance, economics, mathematics, statistics, engineering, computer science, data science, business, or a related field; advanced degree preferred
Understanding of model risk management principles and regulatory expectations applicable to financial institutions, including second line of defense governance responsibilities
Experience supporting model governance activities across the model lifecycle, including model inventory management, model change governance, model documentation, model monitoring, and model retirement
Knowledge of model governance practices for a range of model types used in financial services, including statistical, econometric, forecasting, decision, and other quantitative models
Experience working with model governance data, model inventories, reporting, and management information used to support oversight and decision-making
Experience using or supporting Model Risk Management tools or systems, including workflow management, data quality review, reporting, and process improvement activities
Experience contributing to business requirements, testing activities, user acceptance testing, or implementation support for governance tools and system enhancements
Strong analytical, organizational, and problem-solving skills with attention to detail and the ability to manage multiple priorities effectively
Strong verbal and written communication skills with the ability to communicate clearly with business partners, risk partners, and senior stakeholders

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
Expertise and authority to maintain independence, critically review, and provide effective challenge of the company’s stress testing and capital management practices and credit risk transfer 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 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

Support second-line governance and oversight of the enterprise model risk management framework across the full model lifecycle, including development, implementation, use, monitoring, change management, and retirement.
Partner with model owners, developers, validators, and business stakeholders to promote consistent application of model governance policies, standards, procedures, and requirements.
Execute core model governance activities, including model identification, tiering, inventory maintenance, change assessments, periodic reviews, and retirement processes.
Prepare model governance reporting, management information, and metrics for senior management and risk committees.
Monitor adherence to governance requirements, identify trends and emerging concerns, and escalate observations to management as appropriate.
Maintain and enhance model governance data, including inventory attributes, workflow data, documentation records, and reporting inputs.
Serve as intent owner for the Model Risk Technology system, supporting ongoing maintenance and ensuring the platform continues to meet business, governance, and methodology needs.
Lead stakeholder engagement across the first, second, and third lines of defense to gather input, manage expectations, and support effective implementation of governance processes and system changes.
Validate system and process enhancements through demos, user acceptance testing, feedback loops, and stakeholder engagement.
Lead quality assurance activities to assess conformance with applicable policies, standards, procedures, and governance requirements.
Identify and implement opportunities for continuous improvement, automation, and efficiency to streamline governance execution, reduce manual effort, and strengthen process sustainability.
Support the development, maintenance, and communication of model risk governance policies, standards, procedures, and guidance.