- Serves as a technical expert for projects that are either model-oriented, data-oriented, or both.
- Works with a team of quants, economists, statisticians, data scientists, and external consultants to evaluate the quality of management's model development, implementation, validation, and on-going monitoring of models.
- Evaluates risk associated with the company's models including models of default, prepayment, loan scoring, valuation, capital, derivatives, interest rates, stress testing and counterparties.
- Designs and executes procedures to analyze and test governance over model use, model development, and model risk oversight for highly complex, high-impact models
- Understands heightened risks posed by AI and machine learning, including interpretability, fairness, and privacy and evaluates risk management activities to mitigate these risks.
- Plans and executes a risk-based approach to evaluate the design and operating effectiveness of the company's model risk management, controls, and model governance programs.
- Evaluates the design and operating effectiveness of model policies, standards, and model development procedures.
- Demonstrates critical thinking/effective challenge over quantitative aspects of the models audited.
- Executes duties such as assist in project management, resource management and lead junior quant staff across model audit projects
- Documents audit work papers, conducts fieldwork, and supports Senior Manager, Director/Sr. Director in drafting audit and advisory reports.
- Participates in audit entrance meetings, status meetings, potential findings discussions, and exit meetings with senior management or executive levels, other internal audit teams, and auditees.
- Possesses knowledge of applied computer programming, preferably R, Python, SAS, or MATLAB.
- Visualizes data to communicate complex patterns to executives and business users.
- Master's degree, PhD or foreign equivalent in economics, statistics, mathematics, data science, finance, engineering, computer science or related quantitative disciplines.
- 5-7 years of model development, model risk management or model audit experience.
- 2 to 3 years of experience successfully executing model audit testing consistent with IA methodology, policies and procedures.
- Experience in leading junior quants during projects to deliver high work
- Demonstrated experience in working with analytics teams, effectively managing multiple competing priorities with tight deadlines.
- Good understanding of the business, risks, and related controls within a modeling area.
- Willingness to learn and obtain a certification in data science and artificial intelligence.
- Model auditing experience
- Fair lending analytics experience
- Professional certifications such as CFA, CPA, CIA, FRM.
- Artificial intelligence and modern machine learning (e.g., ensembles, unsupervised learning, natural language processing)
- Ability to effectively manage multiple competing priorities
- Ability to write complete, concise, logical, well laid out workpapers and presentations.
- Critical thinking skills, effective challenge, and strong assurance.
- Strong quantitative modeling skills in economics, statistics, mathematics, and finance.
- Good communication skills (verbal and written).
- Prior knowledge of multiple modeling techniques
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Quantitative Analytics Tech Lead - McLean, United States - Freddie Mac
Description
At Freddie Mac, you will do important work to build a better housing finance system and you'll be part of a team helping to make homeownership and rental housing more accessible and affordable across the nation.
Employees, contingent workers and visitors are no longer required to show proof of vaccination to be on-site. Effective January 2023, Freddie Mac's hybrid work arrangement is 3 days in the office (specifically Tuesday, Wednesday & Thursday).
Position Overview:
Freddie Mac is harnessing artificial intelligence (AI) and machine learning models to create value for our clients, mortgage borrowers, and the mortgage industry. As a result, Freddie Mac's Model Audit team in Internal Audit is seeking a Tech Lead to evaluate whether Freddie Mac's models are adequately governed and controlled.
If you have a deep modeling background, and you are looking to learn how the use of AI and models impact our business, come join our diverse and high-performing team.
Our Impact:
Freddie Mac is leading the U.S housing market forward by making homeownership and rental housing more accessible and affordable. To support this mission, the Model Audit team at Freddie Mac provides assurance to senior management, the General Auditor, and the Audit Committee of the Board that model development, implementation, monitoring, use and oversight of complex models and artificial intelligence meet business objectives and are adequately controlled
Your Impact:
While Internal Audit encourages the company's use of AI, machine learning and "traditional" models, the use of models can pose significant risk to achieving Freddie Mac's mission. The Quantitative Analytics Tech Lead:
Qualifications:
Preferred Skills
Keys to Success in this Role:
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.
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 and register with our referral code: MAC.
Time-type:Full timeJob Category:Research & ModelingFLSA Status:ExemptThe anticipated annualized base salary range for this position is $134,000 to $200,000 and is eligible to participate in the annual incentive program.
