Enterprise Model Risk - Quantitative Modeling - Director

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Company Description

At Fannie Mae, futures are made. The inspiring work we do makes an affordable home a reality and a difference in the lives of Americans. Every day offers compelling opportunities to modernize the nation's housing finance system while being part of an inclusive team using new, emerging technologies. Here, you will help lead our industry forward, enhance your technical expertise, and make your career.

Job Description

In this compelling leadership position, you will conduct theoretical and empirical research with public and proprietary data in all areas of mortgage finance business, including 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.

The Enterprise Model Risk - Quantitative Modeling - Director 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:
  • Lead a team of quantitative professionals who validate highly complex model applications that predict mortgage loan's outcomes and cash flow, which are used for broad business purposes including underwriting, credit portfolio management, calculating CECL allowance and Economic capital, forecast credit expense, revenue and capital, as well as stress testing.
  • Plan the design of the production of each Validation Report, tailoring its scope to the most important model risks
  • Supervise the execution of Validation Report production by team members including providing technical direction and oversight of the work done
  • Ensure the team maintains complete and accurate information in the Model Inventory system about all Model Risk Management activities pertaining to the portfolio of models they oversee
  • Communicate the results of the Model Risk Management activities to senior management, helping model owners and users understand which models are sound enough to aid decision-making. Clearly and concisely, both verbally and through written communication, such as white papers, review reports, or workpapers.
  • Define the approach for applying mathematical, statistical, and econometric techniques to provide innovative, thorough, and practical solutions that support business strategies and initiatives and to conduct or assess ad hoc quantitative analyses, modeling, or programming using R, or Python.
  • Deploy and/or statistical techniques to develop analytic insights, sound hypotheses, and informed recommendations, as well as identify opportunities to apply quantitative methods to improve business performance and/or resolve complex or unusual business issues.
  • Integrate established company policies and industry-wide modeling practices into department processes. Ensure compliance across modeling projects.
  • Ensure effective validation or testing strategies and assesses the quality and risk of model methodologies, outputs, and processes.



Minimum Required Experiences
  • 8 years of relevant work experience
  • Master's Degree in Statistics, Mathematics, Data Science, or similar.

Leadership Skills
  • Leadership experience in a model validation or model development role
  • Relationship Management including managing and engaging stakeholders, customers, and vendors, building relationship networks, contracting, etc.
  • Experience identifying and selecting strategic options, and identifying resources to meet the defined objectives - Working with people with different functional expertise respectfully and cooperatively to work toward a common goal
  • Collective capabilities for leadership, including leading teams, giving feedback, and coaching and mentoring
  • Influencing including negotiating, persuading others, facilitating meetings, and resolving conflict
  • Adept at managing project plans, resources, and people to ensure successful project completion

Technical Skills
  • Advanced knowledge of statistical/econometric theory and professional practices - Functional model validation or model development experience
  • Statistical Programming including coding, debugging, and using relevant programming languages (Python, R, etc...)
  • Skilled in presenting information and/or ideas to an audience in a way that is engaging and easy to understand using graphical representation of information in the form of a charts, diagrams, pictures, and dashboards with programs and tools such as Excel, Tableau, RShiny

Desired Experiences
  • PhD in Statistics, Mathematics, Data Science, or similar.
  • Extensive experience in a model validation role at a large firm in the financial services industry (SIFI or GSIB)
  • Second Line Enterprise Risk Management

Additional Information

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

Fannie Mae is an Equal Opportunity Employer, which means we are committed to fostering a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, religion, national origin, gender, gender identity, sexual orientation, personal appearance, protected veteran status, disability, age, or other legally protected status. For individuals with disabilities who would like to request an accommodation in the application process, email us at careers_mailbox@fanniemae.com.

Job ID:REF9456R