At Freddie Mac, you will do important work to build a better housing finance system and you’ll be part of a team helping to make homeownership and rental housing more accessible and affordable across the nation.
Position Overview:
Freddie Mac’s Enterprise Risk Management Division is currently seeking a Quantitative Analytics Senior to join the Enterprise Model Risk Department. The Enterprise Model Risk Department is responsible for model risk oversight including development, validation, implementation and monitoring across multiple risk types (credit risk, market risk, counterparty risk, climate risk etc.). This Quantitative Analytics Senior will be a member of the model validation team. The main responsibility of the team is to provide effective challenge, provide oversight and manage risks associated with the use of the company's models. Apply now and learn why there’s #MoreAtFreddieMac!
Our Impact:
The team is responsible for validation of climate risk models, including vendor models and modeling systems covering physical risk for natural catastrophe, transition risk, insurance pricing, and related model risk management activities throughout the model life-cycle.
Your Impact:
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Perform independent validation to evaluate model risks related to the design and conceptual soundness of climate risk models, including all key steps in the model development process, such as selection of methodology, data, sampling, segmentation, model diagnostics, model performance and outcome analysis, model overlay, and ongoing monitoring.
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Report findings to model owners and management and ensure those findings are addressed appropriately and timely.
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Prepare validation documentation in compliance with applicable policy, standards and procedures.
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Manage validation projects in model inventory system collaboratively with model owners, key assessors and users.
Qualifications:
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Doctor’s degree or Master’s degree with 3 years of equivalent experience in statistics, data science or a related quantitative field.
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Coursework or work experience applying climate or natural catastrophe modeling techniques, and computer programming to large data sets. Qualifying coursework may include--but is not limited to— weather forecasting, computational fluid dynamics, atmospheric science, global circulation theory, meteorology, cloud science, insurance or risk pricing, statistics, mathematical programming, optimization, machine learning, computational methods, design and analysis of algorithms, Bayesian methods, derivatives, and Monte Carlo methods/modeling.
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Experience in the full physical climate risk modeling pathway from hazard, exposure and financial modeling is preferred
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Experience in natural catastrophe insurance including loss reserving, capital and pricing in vendor modeling firms, large insurance institutions or regulatory bodies, especially covering commercial, housing or mortgage insurance, is an added advantage. Coursework or work experience writing statistical and/or optimization programs to develop models and algorithms. Programming languages experience and proficiency may include--but are not limited to--Python, R, SQL, Java, SAS, and MATLAB.
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PhD or Master degree in quantitative climate or atmospheric science, meteorology, actuarial sciences or a related quantitative field
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Experience in a major natural catastrophe vendor modeling system such as Moody’s RMS or Verisk AIR is an added advantage.
Keys to Success in this Role:
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Deep curiosity to learn with critical thinking.
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Strong verbal and written communication skills.
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Ability to work under limited direction independently to identify issues and solve problems.
Current Freddie Mac employees please apply through the internal career site.
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.
We are an equal opportunity employer and value diversity and inclusion at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, disability status or any other characteristic protected by applicable law. We will ensure that individuals with differing abilities 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.
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 $118,000 - $178,000 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.
Top Skills
What We Do
Freddie Mac is serving America’s homebuyers, homeowners and renters by financing the creation and preservation of more affordable homeownership and rental opportunities, providing liquidity, stability and affordability to the housing market. We are Making Home Possible for families across the nation.
