Model Risk & Controls Manager

Welcome to Freddie Mac, where we are dedicated to providing stability, liquidity and affordability to the housing market. We are currently seeking a highly motivated and experienced Model Risk & Controls Manager to join our team. In this role, you will be responsible for managing model risk and ensuring effective control of all models used within the company. The ideal candidate will possess a strong understanding of financial modeling, risk management and control processes, and have the ability to collaborate with various stakeholders to implement and maintain effective controls. If you are passionate about risk management and looking for a challenging and rewarding career, we want to hear from you!

1. Develop and maintain a comprehensive model risk management framework to ensure compliance with industry standards and regulatory requirements.
2. Conduct ongoing model risk assessments to identify potential risks and implement appropriate controls.
3. Collaborate with cross-functional teams to ensure alignment of model risk management policies and procedures.
4. Stay up-to-date with industry trends and best practices related to model risk management.
5. Manage and maintain an inventory of all models used within the company.
6. Perform regular reviews and validations of models to ensure accuracy and effectiveness.
7. Monitor changes in model development, data inputs, and assumptions to assess potential impact on model risk.
8. Work closely with model developers and business stakeholders to implement and maintain effective controls.
9. Develop and maintain model documentation, including policies, procedures, and user guides.
10. Provide guidance and training to other team members on model risk management processes.
11. Communicate model risk findings and recommendations to senior management and relevant stakeholders.
12. Participate in internal and external audits related to model risk management.
13. Identify and implement process improvements to enhance the efficiency and effectiveness of model risk management.
14. Ensure compliance with all relevant laws, regulations, and internal policies.
15. Act as a subject matter expert on model risk management and provide support to other departments as needed.

According to JobzMall, the average salary range for a Model Risk & Controls Manager in McLean, VA, USA is between $100,000-$150,000 per year. This can vary depending on factors such as experience, education, and the specific company or organization the individual is working for. Additionally, bonuses and other forms of compensation may also impact the overall salary range.

Federal Home Loan Mortgage Corp. provides liquidity, stability and affordability to the U.S. housing market primarily by providing credit guarantee for residential mortgages originated by mortgage lenders and investing in mortgage loans and mortgage-related securities.