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Model Risk Jobs in Virginia (NOW HIRING)

Freddie Mac

Quantitative Analytics Director

Mclean, VA · On-site

Freddie Mac's Multifamily Modeling team within Multifamily Portfolio and Risk Management is seeking a Quantitative Analytics Director to lead the design, ownership, and continuous improvement of the ...

Freddie Mac

Quantitative Analytics Director

Mclean, VA · On-site

$214K - $322K/yr

Freddie Mac's Multifamily Modeling team within Multifamily Portfolio and Risk Management is seeking a Quantitative Analytics Director to lead the design, ownership, and continuous improvement of the ...

TechWish

Quantitative Risk Modeler

Vienna, VA · Hybrid

$55 - $71.25/hr

Quantitative Risk Modeler Location: Hybrid, Vienna, VA Schedule: Monday Friday, 40 hours/week Duration: 6++ months with high possibility of extensions Description: Hybrid at HQ/GPO/Winchester 10+ ...

Truist

Head of Objective Forecasting

Richmond, VA · On-site

The Objective Forecasting team supports the models used in stress testing (CCAR), the allowance for credit loss (ACL/CECL), market valuation and earnings at risk (IRR), and market risk. This support ...

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Model Risk information

What are the key skills and qualifications needed to thrive as a Model Risk Analyst, and why are they important?

To thrive as a Model Risk Analyst, you need a solid background in quantitative analysis, statistics, or finance, often supported by an advanced degree in a related field. Familiarity with model validation tools, programming languages such as Python or R, and regulatory frameworks like SR 11-7 is essential. Strong analytical thinking, attention to detail, and effective communication skills are crucial for evaluating models and presenting findings to stakeholders. These skills ensure model integrity, regulatory compliance, and risk mitigation in financial institutions.

What are some typical challenges faced by professionals working in Model Risk, and how can they be addressed?

Professionals in Model Risk often encounter challenges such as ensuring model accuracy, managing regulatory compliance, and effectively communicating complex technical findings to non-technical stakeholders. Addressing these challenges requires a strong understanding of both quantitative modeling and relevant regulations, as well as strong collaboration skills to work with model developers, auditors, and business units. Staying informed about evolving regulatory standards and participating in ongoing training can also help model risk professionals remain effective and add value to their organizations.

What is model risk?

Model risk refers to the potential for adverse consequences resulting from decisions based on incorrect or misused models. In financial institutions, model risk can arise if a model's assumptions are flawed, if the data input is poor, or if the model is applied inappropriately. Managing model risk involves validating models, monitoring their performance, and ensuring that they are used within their intended scope. Effective model risk management helps organizations avoid significant financial losses and comply with regulatory requirements.

What is the difference between Model Risk vs Model Validation?

AspectModel RiskModel Validation
Primary FocusIdentifying, assessing, and mitigating risks associated with modelsEvaluating and testing models to ensure accuracy and reliability
Required CredentialsQuantitative skills, risk management certifications, industry experienceQuantitative expertise, validation certifications, industry knowledge
Work EnvironmentRisk management teams within financial institutions or firmsModel validation teams, often within risk or model development departments
Industry UsageUsed across banking, insurance, and investment firms to manage model-related risksCommonly employed in financial services to verify model performance

Model Risk focuses on managing the potential negative impacts of models, including errors and misuse, while Model Validation concentrates on testing and confirming the accuracy and robustness of models. Both roles are essential in financial industries to ensure models are reliable and risks are minimized.

What are the most commonly searched types of Model Risk jobs in Virginia? The most popular types of Model Risk jobs in Virginia are:
What are popular job titles related to Model Risk jobs in Virginia? For Model Risk jobs in Virginia, the most frequently searched job titles are:
What job categories do people searching Model Risk jobs in Virginia look for? The top searched job categories for Model Risk jobs in Virginia are:
Model Risk jobs near you
Portfolio Risk Management Senior Business Lead

Portfolio Risk Management Senior Business Lead

Freddie Mac

Mclean, VA • On-site

Full-time

Posted 14 days ago

Job description

At Freddie Mac, our mission of Making Home Possible is what motivates us, and it's at the core of everything we do. Since our charter in 1970, we have made home possible for more than 90 million families across the country. Join an organization where your work contributes to a greater purpose.
Position Overview
Are you an innovative risk leader who wants to make an impact? Are you interested in applying your passion, talent, and ambition to support affordable and sustainable housing for families in communities nationwide? Join the Enterprise Risk Division as a Portfolio Risk Management Senior Business Lead!
Our Impact:
The Portfolio Risk Management Senior Business Lead conducts Enterprise Risk counterparty risk analytics, governance, and oversight for Freddie Mac's Single-Family (SF) and Multifamily (MF) mortgage portfolios. The role assesses, monitors, and communicates risks related to mortgage insurers (MIs), seller/servicers (S/S), banks, and other SF/MF counterparties-combining financial analysis, portfolio surveillance, market monitoring, and transaction-driven risk assessments to support risk appetite, approvals, and senior management decision-making.
Your Impact:
Counterparty Risk Analytics & Oversight
  • Lead counterparty-focused risk analysis for SF/MF portfolios, with primary responsibility for mortgage insurers, reinsurers, and/or seller/servicers.
  • Lead assessment of counterparty financial strength, including liquidity, earnings, funding profile, capital adequacy, profitability, risk indicators, and qualitative risk factors, and evaluate potential impacts to counterparty credit risk.
  • Perform counterparty risk attribution and trend analysis to explain changes in counterparty exposures, risk profiles, and concentrations over time.
  • Lead or provide independent risk assessments for transaction-driven counterparty matters, including mergers and acquisitions, significant initiatives, and Freddie Mac's new or expanded counterparty activities.
  • Support counterparty onboarding and approval workstreams, including coordination across stakeholders and ensuring required artifacts are complete for decisioning.
  • Review and provide risk assessments for methodologies and frameworks used for counterparty risk management such as counterparty exposures or counterparty ratings.

Ongoing Counterparty Surveillance
  • Design and maintain ongoing counterparty monitoring frameworks, including financial metrics, performance indicators, and early-warning signals for SF/MF counterparties.
  • Identify, assess, and clearly articulate emerging counterparty risks, including deterioration in financial condition, structural vulnerabilities, or adverse market developments.
  • Provide timely, decision-relevant risk insights to support proactive risk management actions. Escalate material counterparty concerns, mergers and acquisitions, limit breaches, or governance issues to senior risk leadership, and support CRO- and committee-level visibility as needed.

Cross-Functional Collaboration
  • Partner closely with Single-Family, Multifamily and Counterparty Credit Risk teams to ensure alignment of data, analytics, and risk messaging.
  • Work closely with other Enterprise Risk teams, including Credit, Model Risk, Compliance, and Third-Party Risk Management, to support end-to-end risk governance across credit, capital, model, and regulatory dimensions.

Qualifications:
  • 10+ years of experience in counterparty credit risk and mortgage credit risk, with demonstrated expertise in counterparty financial analysis (capital adequacy, liquidity, earnings sustainability, funding structures, and stress performance) across financial institutions and non-bank counterparties.
  • Strong business and risk knowledge of mortgage insurers (MIs), reinsurers (RIs), and/or seller/servicers, including operating models, regulatory frameworks, capital regimes, and performance drivers across market cycles (preferred).
  • Quantitative degree preferred in finance, economics, mathematics, statistics, or a related field; master's degree or professional certifications (e.g., FRM, CFA) a plus.
  • Strong decision-making skills, with the ability to work effectively under pressure to resolve critical issues.
  • Excellent verbal and written communication skills, with the ability to communicate complex information to a variety of audiences (including senior management and regulators) in a clear and actionable manner.
  • Experience analyzing complex financial data and using risk management and financial analysis tools (e.g., Python, R, Excel) a plus.

Keys to Success in this Role:
  • Lead and mentor a team of analysts focused on counterparty and portfolio risk analytics.
  • Promote strong analytical judgment, sound risk reasoning, and clear executive-level communication.
  • Drive continuous improvement in counterparty risk frameworks, policy standards, assessment documentation, and controls.

Current Freddie Mac employees please apply through the internal career site.
We consider all applicants for all positions without regard to gender, race, color, religion, national origin, age, marital status, veteran status, sexual orientation, gender identity/expression, physical and mental disability, pregnancy, ethnicity, genetic information or any other protected categories under applicable federal, state or local laws. We will ensure that individuals 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.
A safe and secure environment is critical to Freddie Mac's business. This includes employee commitment to our acceptable use policy, applying a vigilance-first approach to work, supporting regulatory mandates, and using best practices to protect Freddie Mac from potential threats and risk. Employees exercise this responsibility by executing against policies and procedures and adhering to privacy & security obligations as required via training programs.
CA Applicants: Qualified applications with arrest or conviction records will be considered for employment in accordance with the Los Angeles County Fair Chance Ordinance for Employers and the California Fair Chance Act.
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 www.BountyJobs.com and register with our referral code: MAC.
Time-type:Full time
FLSA Status:Exempt
Freddie Mac offers a comprehensive total rewards package to include competitive compensation and market-leading benefit programs. Information on these benefit programs is available on our Careers site.
This position has an annualized market-based salary range of $154,000 - $230,000 and is eligible to participate in the annual incentive program. The final salary offered will generally fall within this range and is dependent on various factors including but not limited to the responsibilities of the position, experience, skill set, internal pay equity and other relevant qualifications of the applicant.
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About Freddie Mac

Sourced by ZipRecruiter

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.

Industry

Finance and insurance

Company size

5,001 - 10,000 Employees

Headquarters location

McLean, VA, US

Year founded

1970

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