Model Risk Management Lead Associate – Counterparty Risk

Playing an essential role in the U.S. economy, Fannie Mae is foundational to housing finance. Here, your expertise can help fuel purpose-driven innovation that expands access to homeownership and affordable rental housing across the country. Join Fannie Mae to grow your career and help people find a place to call home.

Job Description

As a valued colleague on our team, you will act as team lead while conducting theoretical and empirical research with public and proprietary data in all areas of the mortgage finance business. This may include mortgage products and securities, borrower behavior, investment and hedging strategies, residential property valuation, macroeconomic models, including housing prices and interest rate, financial valuation of finance assets and derivatives, economic capital, and stress testing. Additionally, you will coach and mentor team members.

THE IMPACT YOU WILL MAKE

The Model Risk Management Lead Associate – Counterparty Risk role will offer you the flexibility to make each day your own, while working alongside people who care so that you can deliver on the following responsibilities:

• Produce model validation reports, and initial/ongoing assessments of models, evaluating performance-in-use and whether changes in the environment are creating increased model risk that needs to be mitigated.

•  Apply advanced skill, knowledge, and/or experience to complete model validation projects aligned with established company policies and industry-wide modeling practices. 

• Contribute to developing validation or testing strategies and assessing the quality and risk of model methodologies, outputs, and processes and applying understanding of relevant business context to interpret model results, monitor performance, and assess risks.

• Communicate technical subject matter clearly and concisely to department leadership and teams.

THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Required Experiences

• 4 years in model development or validation

• Ability to program using R and Python

• Skilled in technical writing

• Bachelor degree or equivalent

• Fast-learning, building on a strong foundation of knowledge to continuously learn new techniques for building and managing model risks well

Desired Experiences

• Advanced degree (Ph.D. or Masters) in a quantitative field such as Computer Science, Statistics, Biostatistics, Economics (with an Econometrics emphasis), Applied Finance, or Applied Mathematics

• Knowledge of risk management governance (lines of defense)

• Counterparty risk experience

• Proficiency in the mathematical, statistical, and computer science techniques used in model development

• Ability to understand business contexts which create a need for models to support operations, often embedded within software applications used in business processes

• Communicating technical subject matter clearly and concisely, both verbally and through well-written communications including Assessment Reviews and Validation Report

Enterprise Model Risk - Quantitative Modeling - Lead Associate

141,000 - 184,000 a year

#LI-Hybrid #LI-ME1

Qualifications

Education:

The future is what you make it to be. Discover compelling opportunities at Fanniemae.com/careers.

For most roles, employees are expected to work onsite on a regular basis at their designated office location. In-office work cadence is determined by your manager. Proximity within a reasonable commute to your designated office location is preferred unless the job is noted as open to remote.

Fannie Mae is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, religion, sex, national origin, disability, age, sexual orientation, gender identity/gender expression, marital or parental status, or any other protected factor. Fannie Mae is committed to providing reasonable accommodations to qualified individuals with disabilities who are employees or applicants for employment, unless to do so would cause undue hardship to the company. If you need assistance using our online system and/or you need a reasonable accommodation related to the hiring/application process, please complete this form.

The hiring range for this role is set forth below. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being. See more here.

Requisition compensation:

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