Quantitative Model Audit Lead

Playing an essential role in the U.S. economy, Fannie Mae is foundational to housing finance. Here, your expertise can help fuel purpose-driven innovation that expands access to homeownership and affordable rental housing across the country. Join Fannie Mae to grow your career and help people find a place to call home.

Job Description

As a valued member of our Internal Audit team, you will serve as a team lead, supporting the planning, execution, and reporting of model risk-related audits across the mortgage finance business. This role focuses on areas such as interest rate modeling, market risk analysis, funding and liquidity risk management, and capital markets activities. Additionally, you will also coach and mentor junior team members.

We are currently hiring for one role that can sit out of either Reston, DC, Plano, or Boston.

THE IMPACT YOU WILL MAKE
The Quantitative Model Audit Lead 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:

• Assist with planning, executing and reporting model audit engagements and technical audit reviews of models. Provide credible challenge in auditing the modeling practices across the enterprise, including evaluation of development documentation, validation activities and ongoing monitoring.

• Apply specialized technical knowledge and expertise to perform model reviews in any or more of the following areas related to mortgage finance activities: market risk, credit risk, and counterparty credit risk.

• Serve as day-to-day project leader for audits ensuring projects are completed on time, within scope and budget. Review and finalize staff work papers and draft audit reports with Model Audit Manager / Director.

• Provide day-to-day project management oversight of other model Auditors (including project guidance and informal coaching). Conduct first level review of work and documentation. Communicate audit objectives; inspire and motivate team members to achieve results.

• Engage in continuous model risk assessments and monitoring in coverage areas.

• Build and maintain relationships with business partners. Provide advice and share Internal Audit knowledge with business partner managers and staff to strengthen governance, risk and control environments, as appropriate.

• Understand model risk regulatory requirements, supervisory guidance (e.g. SR 11-7), model risk policy and current industry practices in market, credit or counterparty credit risk modeling. Coach junior staff and conduct training across the team and division in these areas.

• Communicate technical subject matter clearly and concisely to department leadership and teams.

THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Required Experiences

• Master’s degree in Statistics, Quantitative Finance, Financial Engineering, Economics, or a related quantitative discipline

• 4+ years of experience in quantitative analytics, including model development, validation, or auditing in market risk areas such as:

  • Term structure models

  • Mortgage rate models

  • Fixed income valuation models

• Strong analytical and critical thinking skills with attention to detail

• Excellent written and verbal communication skills

• Solid project management capabilities

• Proficiency in Python, R, or similar programming languages

• Self-motivated and able to work independently

Desired Experiences

• Ph.D. degree in quantitative Finance disciplines

• Professional certification, such as CPA, CFA, FRM, CIA

• Audit experience at a large financial institution or consulting company

• Strong organizational, multi-tasking and prioritizing skills

• Knowledge of credit risk modeling of single-family and multi-family mortgages

• Knowledge of interest rate risk management practices, including market risk analysis, interest rate hedges

• Knowledge of mortgage finance and secondary mortgage market

• Knowledge of AI/ML modeling and validation

Internal Audit - Quantitative Modeling - Lead Associate

138,000 - 180,000 - 220,000 a year

#LI-Hybrid #LI-ME1

Qualifications

Education:

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For most roles, employees are expected to work onsite on a regular basis at their designated office location. In-office work cadence is determined by your manager. Proximity within a reasonable commute to your designated office location is preferred unless the job is noted as open to remote.

Fannie Mae is an equal opportunity employer and considers qualified applicants for employment without regard to race, color, religion, sex, national origin, disability, age, sexual orientation, gender identity/gender expression, marital or parental status, or any other protected factor. Fannie Mae is committed to providing reasonable accommodations to qualified individuals with disabilities who are employees or applicants for employment, unless to do so would cause undue hardship to the company. If you need assistance using our online system and/or you need a reasonable accommodation related to the hiring/application process, please complete this form.

The hiring range for this role is set forth below. Final salaries will generally vary within that range based on factors that include but are not limited to, skill set, depth of experience, certifications, and other relevant qualifications. This position is eligible to participate in a Fannie Mae incentive program (subject to the terms of the program). As part of our comprehensive benefits package, Fannie Mae offers a broad range of Health, Life, Voluntary Lifestyle, and other benefits and perks that enhance an employee's physical, mental, emotional, and financial well-being. See more here.

Requisition compensation:

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