Model Governance Risk Management Lead Associate (Flexible Hybrid)

Company Description

At Fannie Mae, futures are made. The inspiring work we do helps make a home a possibility for millions of homeowners and renters. Every day offers compelling opportunities to impact the future of the housing industry while being part of an inclusive team thriving in an energizing, flexible environment. Here, you will grow your career and help create access to fair, affordable housing finance.

Job Description

THE IMPACT YOU WILL MAKE
The Model Governance Risk Management Lead Associate (Flexible Hybrid) will join the Model Governance Solutions (MGS) team. The MGS team has responsibility to drive efficiency, consistency, compliance, and sustainability in first-line model governance activities across the enterprise, and has the following three strategic objectives:

• Driving efficiencies in model management by developing clear and actionable governance, integrating relevant external guidance, and developing tools that simplify processes.
• Ensuring risk-based execution and compliance of all internal model-related standards and policies by training, reporting, and monitoring applicable processes.
• Acting as a representative with Model Risk Management and other relevant stakeholders on behalf of Model Owners, Users, Developers, and Application Owners.

As a valued colleague on our team, you will assist the team with assessing and identifying potential model risks that may threaten our reputation, safety, security, and/or financial success, as well as participate with the team in communicating and collaborating with key stakeholders across the enterprise and understanding business objectives.

The Model Governance Risk Management Lead Associate (Flexible Hybrid) 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:

• Provide 1st Line of Defense consulting to business partners on Model Risk Management standard requirements including risk tiering, model registration, identification of significant/ important EUCs, model types, and model determinations.
• Work with stakeholders on Internal Audit, Model Risk and FHFA engagements and exams as well as emerging issues and opportunities for enhancements. 
• Coordinate with 2nd LOD to disseminate policy, standards and procedure updates, training, and provide formal interpretation and consultation as needed.
• Partner, respond to needs, and ensure ongoing governance support with the Model Management Lifecycle (MMLC) for Model Owners and Users.
• Support the development and monitoring of key model risk metrics related to 1st LoD model processes for reporting to relevant committees.
• Drive on-time closure for model related issues, findings, and action items.
• Perform data quality reviews and drive down data quality issues from the system of record.
• Support control execution, and review required documentation artifacts within the MMLC as identified in the procedures.
• Provide additional model governance support as defined in the standards and procedures to the Model Controller with effectively executing their role throughout the MMLC.  
• Partner with and provide model governance support to the Head of Modeling as prescribed in the MMLC.
• Facilitate information requests and related reporting activities across various stakeholders.
• Keep up to date with relevant industry and regulatory standards, best practices, and business processes used in model risk management and be able to communicate to team.
• Guide team in preparing analyses and reports used to determine business areas that pose potential risks to the enterprise.  
• Guide team in preparing analyses and reports used to evaluate the impact of proposed risks to the enterprise.  
• Lead team in monitoring information and processes to reduce risk using rigorous analysis.
• Document resolutions and control guidelines.  
• Guide team efforts to review business strategies, and make decisions that will drive success in the face of shifting consumer behaviors and regulations.  

Qualifications

THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Requirements

• 4 years of relevant model governance, controls, compliance, or program experience. 

Skills

• Skilled in presenting information and/or ideas to an audience in a way that is engaging and easy to understand
• Experience helping an organization to plan and manage change in effort to meet strategic objectives
• Working with people with different functional expertise respectfully and cooperatively to work toward a common goal
• Adept at managing project plans, resources, and people to ensure successful project completion
• Experience gathering accurate information to explain concepts and answer critical questions
• Influencing including negotiating, persuading others, facilitating meetings, and resolving conflict
• Risk Assessment and Management including evaluating and designing controls, conducting impact assessments, identifying control gaps, remediating risk, etc.
• Relationship Management including managing and engaging stakeholders, customers, and vendors, building relationship networks, contracting, etc.
• Governance and Compliance including creating policies, evaluating compliance, conducting internal investigations, developing data governance, etc.

Tools

• Experience using SharePoint
• Skilled in Excel

Desired Experiences  

• Bachelor’s degree or advance degree preferred
• Strong understanding of model risk management principles and concepts with practical experience dealing with the Model Management Lifecycle (MMLC).  
• Solid understanding of quantitative models and experience supporting a team of model developers, users and owners.
• Proven relationship management skills to partner with team members and collaborate with stakeholders as needed.
• Governance and compliance experience including creating policies, evaluating compliance, and supporting business partners. 
• Proven track record of managing projects and deadlines.
• Self-Starter with proven track record of strong prioritization, organizational, and planning skills
• Excellent oral and written communication skills, including the ability to understand and explain complex processes to business partners.
• Understanding of Financial Services and or the Banking and Mortgage industry
• Ability to work independently, but also comfortable working and contributing within a team environment
• Track record of identifying and implementing process improvements in day-to-day activities
• Knowledge of JIRA and Power-BI a plus
• Experience using eGRC tools such as Risk Works, RSA Archer, etc.
• Experience in supporting Data Science and or Climate Modeling a plus.

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 [email protected].
 

The hiring range for this role is set forth on each of our job postings located on Fannie Mae's Career Site. 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.