Portfolio Risk Lead - Servicing

Freddie Mac•McLean, VA

22h•$130,000 - $196,000

About The Position

At Freddie Mac, the mission of Making Home Possible is central to their work, having helped over 90 million families since 1970. The company is seeking a Portfolio Credit Risk Lead for Single Family Portfolio & Servicing. This role is crucial for Freddie Mac's enterprise financial risk oversight, focusing on anticipating, measuring, and managing Single-Family (SF) credit risk across economic cycles. The lead will interpret macroeconomic and industry trends to contextualize SF portfolio performance. As an independent risk leader, the individual will provide effective challenge to business risk management, enhance risk governance, and leverage extensive experience in mortgage loan servicing and related credit risks. The role involves close collaboration with Enterprise Risk, Internal Audit, and business units to monitor key risk indicators, identify emerging risks, assess new initiatives and policy changes, and evaluate portfolio strategies like loss mitigation and liquidation. The Financial Risk team within the Enterprise Risk Division is responsible for overseeing and challenging the company's most significant risks. Their collective efforts include establishing governance, policies, and standards for financial risk management, monitoring and reporting on risk and control profiles, financial risk appetite, and performance against risk indicators. They also communicate enterprise-wide risk management issues, monitor issue resolution, and provide independent oversight and challenge of financial risk management practices.

Requirements

8 + years of experience at a large mortgage servicer or in a servicing area of a GSE or HUD
8 + years of experience in risk management within a large financial institution
Ability to provide independent risk assessments with limited supervision
Experience with process, risk and controls reviews and assessments
In-depth knowledge of the loan lifecycle of a SF mortgage; knowledge of performing and default management, including bankruptcy, foreclosure and REO management
Knowledge of borrower behavior, federal regulations related to real estate and collections, and collateral valuation
Knowledge of GSE Guide requirements, including insurance, title and escrow
Working knowledge of structured finance, investor reporting and disclosures, ability to anticipate downstream impacts and possible obstacles due to policy or program changes
Experienced in credit policy development

Nice To Haves

Ability to maintain up-to-date knowledge of macroeconomic conditions, industry trends and emerging risks
Strong interpersonal and communication skills, ability to work across risk teams and first- and third-line counterparts
Ability to work under pressure effectively to resolve issues and meet deadlines in a dynamic environment
Attention to detail, ability to produce timely, high-quality and well-documented oversight outcomes
Strong organizational skills, willingness to learn adjacent areas of the business

Responsibilities

Build strong partnerships with Single-Family counterparts and across Enterprise Risk Management
Monitor KRIs and other risk metrics to measure credit risk exposure impacted by servicing activities; monitor performance against risk appetite thresholds and identify key drivers
Monitor industry and macroeconomic conditions; monitor trends, developing issues and emerging risks
Participate in or lead independent oversight and assessment of Single-Family Portfolio & Servicing policy and servicer performance activities
Conduct risk assessments including Process, Risk & Control (PRC) reviews; coordinate GRC monitoring
Review SF New Products/New Initiatives, Significant Changes and FHFA Directives for credit risk exposure and downstream impacts
Review and assess SF Servicing Policy changes and issued Terms of Business for credit exposure
Monitor Single Name Servicer oversight, monitor monthly servicer scorecards, review scorecard methodology changes
Provide focused analysis on Top 25 SF Servicer performance, monitor CRR Servicing Risk Scores
Attend Seller/Servicer Forum and Third-Party Risk oversight meetings
Monitor Transfers of Servicing (TOS) and VPC transfers
Participation in Contingency planning activities with the business, Operational Risk and Counterparty Risk stakeholders
Review servicer capacity strategy and provide assessment on planned capacity vs portfolio delinquency trends
Provide oversight of SQA & Remedy results, provide SQA Annual Plan Assessment and Annual Flood Insurance Review
Complete reviews of 1L SFPS policies and procedures for compliance with corporate risk policies.
Monitor compliance with corporate risk policies, standards and Compliance Obligations governing portfolio consumer credit risk management activities
Review and maintain departmental policies and procedures
Support ongoing reporting and assessments to management
Coordinate Internal Audit and FHFA Targeted Exams for SF Policy & Servicing activities
Perform other ad-hoc risk analysis as needed