Model Risk Senior Lead

Freddie Mac•McLean, VA

2d•$151,000 - $227,000

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 Senior Lead, 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 10 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, statistics, mathematics, engineering, data science, or a related field
Strong understanding of model risk management principles, governance frameworks, and second line of defense responsibilities within the financial services industry
Experience overseeing or supporting model risk management across the full model lifecycle, including model development, implementation, use, performance monitoring, change management, and retirement
Knowledge of regulatory guidance and supervisory expectations related to model risk management, including SR 11-7 and relevant agency expectations applicable to financial institutions
Experience with governance of AI/ML models, including model documentation, conceptual soundness considerations, performance monitoring, explainability, model change management, and ongoing oversight expectations
Experience working with model risk management tools or systems, including business requirements development, workflow design, user acceptance testing, implementation support, or product ownership responsibilities
Strong collaboration skills with the ability to work effectively across first line, second line, validation, and technology teams
Strong written and verbal communication skills with the ability to communicate complex model risk and AI/ML governance topics clearly to a variety of audiences, including senior management
Demonstrated ability to manage multiple priorities, drive process improvements, and deliver high-quality results in a fast-paced environment

Nice To Haves

Experience leading, developing, or mentoring team members is preferred

Responsibilities

Provide second line of defense governance and oversight across the enterprise model risk management framework, ensuring alignment with internal policy, standards, and regulatory expectations
Partner with model owners, model developers, validators, and business stakeholders to promote consistent execution of model risk management requirements across the full model lifecycle, including model development, implementation, use, monitoring, change management, and retirement
Support governance activities related to both traditional models and AI/ML models, including oversight of model inventory, model tiering, documentation standards, performance monitoring, and ongoing compliance with model risk management requirements
Review model-related submissions, governance materials, and lifecycle artifacts to assess completeness, quality, and consistency with enterprise standards
Monitor emerging practices, regulatory developments, and industry trends related to model risk management and AI/ML governance, and help translate them into practical governance enhancements
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
Act as an intent owner or business lead for model risk management system capabilities, helping prioritize enhancements, define user needs, and improve governance workflows and reporting. Including maintenance of the model risk management system.
Lead quality assurance activities to assess consistent 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.
Build strong partnerships across Enterprise Risk, business divisions, and technology teams to strengthen model governance practices and promote a consistent second line perspective
Develop and coach team members while fostering a culture of accountability, collaboration, and high-quality oversight