Operational Risk Manager (Hybrid – 3 Days in Office – VA or TX)

Position Overview:

Are you excited by the chance to create an impact and work in a dynamic flexible environment? Do you have expertise in Model Risk Governance? If so, please consider this opportunity and apply to the Model Risk & Controls Manager role and work in conjunction with Single Family (SF) Acquisitions business leaders. Apply now and learn why Freddie Mac is #HomeToMore !

Our Impact:

The Single-Family Acquisitions Division Risk Office is responsible for managing model-related compliance and operational risk for the division.

Your Impact:

In this role, you will be responsible for helping mature and implement model governance activities to effectively manage Model risk.  Responsibilities include:

• Apply the firm’s Model Risk Policy, Standard and Procedure
• Develop and implement division-specific Model risk management policies, strategies and operational procedures to create a high-quality, risk-aware culture in compliance with corporate Model policies, standards and procedures
• Design process and controls to effectively mitigate risk
• Proactively work with Model Business Owners to address Model risk-related challenges
• Establish governance routines and schedules to ensure corporately required Model requirements are implemented timely and accurately
• Provide guidance and training/coaching to equip Model-related roles in their implementation of Model-lifecycle plans and deliverables (e.g., data quality plan, Model documentation development/retention, user acceptance test support, Model use relationship inventory, Model performance monitoring)
• Manage second line of defense feedback monitoring and partner with relevant stakeholders to disposition findings in a timely manner
• Work on issues and recommendations where analysis of situations or data requires an in-depth knowledge of organizational and Model risk reduction objectives
• Collaborate with Model stakeholders and the Division Risk and Control team to perform Model risk assessments to inform Model risk levels and tiering
• Collaborate with Model stakeholders and divisional governance teams to conduct gap assessments between current practice and corporate policies/standards and applicable legal/regulatory obligations; partner with Model stakeholders to develop necessary procedures to fill the gaps in a timely manner
• Partner with the Division Risk and Control team to track and address Audit and Regulatory exam requests and inquiries completely and timely
• Work with Model stakeholders to design regular Model monitoring reports and routines (e.g., ongoing Model performance monitoring, Model metrics and periodic reviews) with results to the Division Risk Office and Division Risk and Control team
• Manage the development, review, and approval of presentations to be used in quarterly meetings (e.g., Division Model Risk Forum and Model Risk Committee)
• Ensure adherence to budgets, schedules, work plans, and performance requirements
• Interact regularly interacts with senior management and executive levels on matters concerning several functional areas and divisions
• Requires the ability to collaborate with stakeholders to help influence the thinking of, or gain acceptance from, others in sensitive situations, without damage to relationship
• Build a high performing, result-oriented team

Qualifications:

• 8-10+ years of related experience with 2+ years management experience
• Technical knowledge of model development and oversight
• Solid understanding and experience with technology/model risk management, controls and governance routines
• Understanding of model risks and management practices, with experience working with  oversight and regulatory requirements
• Experience with reporting tools or queries to prepare/present management reports
• Ability to collaborate with stakeholders to implement effective and efficient processes
• Understanding and experience of the technical lifecycle and points of risk, covering design, development, testing, implementation, use, change, and performance monitoring
• Thorough understanding and experience with operational risk management to include  risk identification, assessment, root cause, mitigation, monitoring, and reporting
• Bachelor’s Degree or equivalent experience; experience in technology/model risk and control preferred

Keys to Success in this Role:

• High ethical standards, excellent judgment, sense of personal initiative, and ability to interact constructively with colleagues at all levels of the organization.
• Ability to form partnerships with peer managers and model project managers to create a mutually supportive community.
• Critical thinking, strong problem-solving skills, and attention to detail.
• Strong written, verbal, communication, information visualization skills and the ability to communicate appropriately at all levels of the organization.
• Ability to lead and adapt to change in a fast-paced environment while continuing to deliver quality deliverables.
• Ability to identify opportunities for converting ad hoc procedures into repeatable processes and automated solutions to increase efficiency and accuracy.
• Self‐motivated, with the capability to plan for and manage multiple priorities.

Current Freddie Mac employees please apply through the internal career site.

Today, Freddie Mac makes home possible for one in four home borrowers and is one of the largest sources of financing for multifamily housing. Join our smart, creative and dedicated team and you’ll do important work for the housing finance system and make a difference in the lives of others.

We are an equal opportunity employer and value diversity and inclusion at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status or any other characteristic protected by applicable law. We will ensure that individuals with differing abilities are provided reasonable accommodation to participate in the job application or interview process, to perform essential job functions, and to receive other benefits and privileges of employment. Please contact us to request accommodation.

CA Applicants:  Qualified applications with arrest or conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.

Notice to External Search Firms: Freddie Mac partners with BountyJobs for contingency search business through outside firms. Resumes received outside the BountyJobs system will be considered unsolicited and Freddie Mac will not be obligated to pay a placement fee. If interested in learning more, please visit www.BountyJobs.com and register with our referral code: MAC.

Time-type:Full time

FLSA Status:Exempt

Freddie Mac offers a comprehensive total rewards package to include competitive compensation and market-leading benefit programs. Information on these benefit programs is available on our Careers site.

This position has an annualized market-based salary range of $126,000 - $190,000 and is eligible to participate in the annual incentive program. The final salary offered will generally fall within this range and is dependent on various factors including but not limited to the responsibilities of the position, experience, skill set, internal pay equity and other relevant qualifications of the applicant.