Senior Model Risk Management Jobs in Virginia (NOW HIRING)

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Position Overview:

This role sits at the center of Freddie Mac's enterprise model risk oversight, shaping how the company manages model risk across the business lines. As a Senior Lead, you'll strengthen model governance and model risk management. You'll partner closely across Enterprise Risk including Financial Risk and Non-Financial Risk areas, and the business divisions to manage model risk. The position offers high visibility, meaningful influence on enterprise outcomes, and the opportunity to innovate in model and AI/ML governance, risk system build-out, and risk control optimization while developing and leading talent in a fast-paced environment.

Our Impact:

The Enterprise Model Risk (EMR) team within the Enterprise Risk Division is responsible for oversight and effective challenge of the company's model risk. Together, we:

• Establish governance, policies, and standards that define how the company manages model risk to support safety and soundness

• Monitor and report on the risk and control profile, model risk appetite, and performance of risk indicators and metrics against thresholds and limits

• Communicate enterprise-wide model risk management issues and validation findings and monitor effective and timely issue/finding resolution

• Provide timely and independent oversight and effective challenge of the company's model risk management practices

• Execute an integrated oversight plan in collaboration with Financial Risk and other Non-Financial Risk areas to support the Chief Risk Officer in providing senior management and the Board with an enterprise view of risks

Your Impact:

Senior Lead, Enterprise Model Risk Governance, an influential leader at Freddie Mac, you will:

• Provide second line of defense governance and oversight across the enterprise model risk management framework, ensuring alignment with internal policy, standards, and regulatory expectations

• Partner with model owners, model developers, validators, and business stakeholders to promote consistent execution of model risk management requirements across the full model lifecycle, including model development, implementation, use, monitoring, change management, and retirement

• Support governance activities related to both traditional models and AI/ML models, including oversight of model inventory, model tiering, documentation standards, performance monitoring, and ongoing compliance with model risk management requirements

• Review model-related submissions, governance materials, and lifecycle artifacts to assess completeness, quality, and consistency with enterprise standards

• Monitor emerging practices, regulatory developments, and industry trends related to model risk management and AI/ML governance, and help translate them into practical governance enhancements

• Support the development of model risk management tools and systems by partnering with business, technology, and operations teams on business requirements, workflow design, user acceptance testing, and implementation readiness

• Act as an intent owner or business lead for model risk management system capabilities, helping prioritize enhancements, define user needs, and improve governance workflows and reporting. Including maintenance of the model risk management system.

• Lead quality assurance activities to assess consistent conformance with applicable policies, standards, procedures, and governance requirements

• Identify and implement opportunities for continuous improvement, automation, and efficiency to streamline governance execution, reduce manual effort, and strengthen process sustainability.

• Build strong partnerships across Enterprise Risk, business divisions, and technology teams to strengthen model governance practices and promote a consistent second line perspective

• Develop and coach team members while fostering a culture of accountability, collaboration, and high-quality oversight

Qualifications:

• At least 10 years of experience in model risk management, model governance, model validation, quantitative risk management, or related functions within a large, complex financial institution

• Bachelor's degree required; Master's degree preferred in finance, economics, statistics, mathematics, engineering, data science, or a related field

• Strong understanding of model risk management principles, governance frameworks, and second line of defense responsibilities within the financial services industry

• Experience overseeing or supporting model risk management across the full model lifecycle, including model development, implementation, use, performance monitoring, change management, and retirement

• Knowledge of regulatory guidance and supervisory expectations related to model risk management, including SR 11-7 and relevant agency expectations applicable to financial institutions

• Experience with governance of AI/ML models, including model documentation, conceptual soundness considerations, performance monitoring, explainability, model change management, and ongoing oversight expectations

• Experience working with model risk management tools or systems, including business requirements development, workflow design, user acceptance testing, implementation support, or product ownership responsibilities

• Strong collaboration skills with the ability to work effectively across first line, second line, validation, and technology teams

• Strong written and verbal communication skills with the ability to communicate complex model risk and AI/ML governance topics clearly to a variety of audiences, including senior management

• Demonstrated ability to manage multiple priorities, drive process improvements, and deliver high-quality results in a fast-paced environment

• Experience leading, developing, or mentoring team members is preferred

Keys to Success in this Role:

• Effective collaboration to build trust and increase efficiency across the three lines, including the business and Finance Divisions, Enterprise Risk Division, and Internal Audit

• Ability to communicate effectively and efficiently

• Ability to prioritize across multiple competing tasks, manage teams effectively, and deliver timely, high-quality, and well-documented oversight outcomes

• Strong organization skills, analytical mindset, and ability to work in a fast-paced environment against tight deadlines

• Remain current on the latest financial risk management developments, regulations, and industry trends

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 timeFLSA 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 $151,000 - $227,000 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.Employment Type: FULL_TIME