Quantitative Analytics Senior Director (Investments & Capital Markets model validation)

Freddie Mac•Mclean, VA

46d•$244,000 - $366,000

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. Join an organization where your work contributes to a greater purpose. Position Overview: Freddie Mac's Enterprise Model Risk Management group is currently seeking a Quantitative Analytics Senior Director to lead the model validation group that performs effective challenge of Investments & Capital Market (I&CM) models that support key business and risk decisions. Apply now and learn about our excellent benefits and why there's #MoreAtFreddieMac! Our Impact: Freddie Mac is leading the U.S housing market forward by making homeownership and rental housing more accessible and affordable. Your Impact: Responsible for managing the comprehensive validation of all I&CM Models that include interest rate, mortgage rate and derivative models per applicable Freddie Mac Policy and Standards and Regulatory requirements. Responsible for validation and review of appropriate controls of associated model overlays, processes and applications that may include expert judgment or qualitative factors. Recommend, as appropriate, the approval or disapproval of models, overlays, processes, and applications, including issuance of findings, tied to weaknesses as determined by independent effective challenge. Ensure conformance to internal control standards for associated model validation processes. Effectively interact with model developers, implementers and users, business stakeholders, and governance committees to manage model validations, including operational management of associated model risk processes, and ensure compliance with Model Risk Policy and Standards Participate and support in audit and regulatory engagements, including issue remediation activities related to model risk. Conduct ongoing monitoring validation activities to support conformance to appropriate risk appetite and KRI metrics Establish operational objectives and work plans and delegate assignments to staff Effectively engage with model governance and reporting functions, and other model validation groups, and support model risk activities Build strong relationships and consensus across the lines of defense on model validation matters, aligning conflicting priorities and resolving issues to achieve progress Directly manage model validation staff and conduct performance reviews and ratings

Requirements

Bachelor's degree or equivalent experience; Graduate degree with advanced studies/degree in economics/statistics/mathematics/financial engineering or related fields preferred
Typically has 15+ related work experience and 8+ years management experience
Typically, the candidate has 8+ years related experience in regulated financial services institutions in modeling or model validation space with focus in capital markets, including fixed income and derivatives
Strong quantitative and analytical skills
Extensive experience in model development or validation
Strong technical skills in processing data and programming
Thorough knowledge of applicable regulatory guidance
Superior technical written and oral communication skills
Must be able to plan, organize and supervise work of staff and produce timely results

Responsibilities

Responsible for managing the comprehensive validation of all I&CM Models that include interest rate, mortgage rate and derivative models per applicable Freddie Mac Policy and Standards and Regulatory requirements.
Responsible for validation and review of appropriate controls of associated model overlays, processes and applications that may include expert judgment or qualitative factors.
Recommend, as appropriate, the approval or disapproval of models, overlays, processes, and applications, including issuance of findings, tied to weaknesses as determined by independent effective challenge.
Ensure conformance to internal control standards for associated model validation processes.
Effectively interact with model developers, implementers and users, business stakeholders, and governance committees to manage model validations, including operational management of associated model risk processes, and ensure compliance with Model Risk Policy and Standards
Participate and support in audit and regulatory engagements, including issue remediation activities related to model risk.
Conduct ongoing monitoring validation activities to support conformance to appropriate risk appetite and KRI metrics
Establish operational objectives and work plans and delegate assignments to staff
Effectively engage with model governance and reporting functions, and other model validation groups, and support model risk activities
Build strong relationships and consensus across the lines of defense on model validation matters, aligning conflicting priorities and resolving issues to achieve progress
Directly manage model validation staff and conduct performance reviews and ratings