Freddie Mac's Enterprise Model Risk Management group needs to lead the model validation group that performs effective challenge of Investments & Capital Market (I&CM) models that support key business and risk decisions.
Requirements
- 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
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
Other
- 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
- Must be able to plan, organize and supervise work of staff and produce timely results
