Job Description As a Principal in Quantitative Modeling, you will apply extensive knowledge of advanced modeling techniques, joining a modeling community which creates solutions that use public and proprietary data in all areas of the mortgage finance business including mortgage products and securities, borrower behavior, investment and hedging strategies, residential property valuation, macroeconomic models including of housing prices and interest rates, valuation of financial assets and derivatives, economic capital, and stress testing.
As a Principal within the
Enterprise Model Risk
function, you will be a Model Validator who plays a key role on a Model Validation team, ensuring that models are operating as intended, have been well-designed using sound application of statistical model development and econometric model-building practices, and are appropriate for their proposed model usages.
THE IMPACT YOU WILL MAKE
The
Quantitative Model Validator Principal
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:
Produce Model Validation Reports in which you evaluate the model developer’s design choices, the results of statistical/econometric estimation of model coefficient values, and how statistical testing diagnostics influence your professional judgment of whether the model is acceptable for use or requires re-specification/re-estimation.
Assess the adequacy of Model Whitepapers which describe model development decisions and results for sufficiency-for-validation.
Play an individual contributor leadership role within the Validation group, ensuring that the planning, scoping, and supervisory review activities in Validation Report production are well-done, supplementing the efforts of more junior members of the Validation team.
Be influential and impactful, shaping model development priorities by identifying and communicating model limitations in a way which shapes model usage and model development.
Qualifications THE EXPERIENCE YOU BRING TO THE TEAM
Minimum Required Experiences
8 yearsDesired Experiences
An advanced degree (PhD. or Masters) in a quantitative field such as Statistics, Economics (with an Econometrics emphasis), Applied Finance, Engineering, or Computer Science.
Experience with a large financial institution which has Enterprise Risk Management functions that meet the needs of highly regulated financial institutions.
Experience in developing models or validating models.
Skills
Understanding the business context which may create a need for models or other analytical product solutions
Fast-learning, building on a strong foundation of knowledge to continuously learn new techniques for building and managing model risks well.
Communicate technical subject matter clearly and concisely, both verbally and through well-written communications including Validation Reports.
Tools
Advanced skills in using computer languages often used in model development such as Python and R.
Advanced skills in using computer languages that facilitate producing technical documents about models, those with equation editors and convenient ways of producing charts and tables which describe models and summarize model diagnostics.
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].