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Interest Rate/Market Risk Modeling Advisor - Internal Audit (Open to Remote)
Interest Rate/Market Risk Modeling Advisor - Internal Audit (Open to Remote)-January 2024
Washington
Jan 20, 2025
ABOUT FANNIE MAE
At Fannie Mae, futures are made. Here, you will help lead our industry forward and make your career.
5,001 - 10,000 employees
Financial Services
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About Interest Rate/Market Risk Modeling Advisor - Internal Audit (Open to Remote)

  Job Description As a valued contributor to our team, you will apply extensive knowledge of principles, advanced techniques, and theories to 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.

  In this highly visible leadership position, you will be accountable for executing the overall direction of the Internal Audit modeling team, focused on auditing the model development life cycle activities on a wide range of financial risk modeling areas.

  THE IMPACT YOU WILL MAKE

  The

  Interest Rate/Market Risk Modeling Advisor - Internal Audit

  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 model risk audit execution on a wide range of financial risk modeling areas including focusing on Interest Rate Risk, Market Risk, Liquidity Risk and Counterparty Credit Risk Management, in areas of Treasury, Corporate Finance and Capital Markets. Lead, oversee and manage audits from planning to reporting. This includes ensuring the audit scope is adequate for issuing an overall opinion on internal controls and risk management practices to senior management; executing audit work, drafting, supporting and communicating audit issues; assessing management remediation plans; and reviewing audit work papers in line with audit methodologies.

  Assess effectiveness of model risk controls, model risk management practices and governance framework to draw conclusions and generate insights. Connect dots to identify emerging risk based on full body of audit work performed.

  Keep up with the latest developments in coverage areas in terms of products, processes, models, risk management practices, industry standards and regulatory landscape. Plan audit projects to ensure effective controls are implemented.

  Contribute to continuous monitoring and a dynamic evaluation of management’s model residual risk assessment and reporting against risk tolerance.

  Contribute to the development of model risk audit plan and the team’s strategy.

  Drive process improvements to enhance auditing efficiency and effectiveness.

  Continually develop strong working relationships with business stakeholders to be a trusted advisor and drive improvement actions.

  Provide technical guidance, inspire staff engagement and drive risk identification.

  Qualifications THE EXPERIENCE YOU BRING TO THE TEAM

  Minimum Required Experience

  6+ years’ proven tracking record of effectively performing model risk related activities (e.g. model development or model validation) in financial institutions, consultancy or regulatory bodies.

  Experience in one or more of the following areas: Basel II / III regulatory framework for market risk / IRRBB / liquidity management, pricing / valuation model for mortgage products (MBS; CMBS; whole loans).

  Strong quantitative and analytical skills; a track record of applying critical thinking and analytical skills to identify risk, assess impact and establish credibility across teams to influence change.

  Excellent verbal and written communication skills and ability to effectively interact with other functions on model-related issues and deliver complex technical information to diverse audiences in a meaningful way.

  Risk and control mindset.

  Detail oriented, self-motivated and willing to learn.

  Leadership Skills

  Adept at 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, 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.

  Education and Other Requirements

  Master or Ph.D. degree in a quantitative discipline such as Statistics, Quantitative Finance, Economics, etc.

  Hands-on knowledge and experience with one or more technical tools such as R, Python, C/C++ or SQL

  Knowledge of model risk controls

  Knowledge of mortgage finance and the secondary mortgage market

  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].

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