In this highly visible leadership position, you will be accountable for executing the overall direction of the Internal Audit modeling team, focused on auditing the model development life cycle activities as well as being a key advisor to senior leadership within the three lines of defense.

THE IMPACT YOU WILL MAKE

The Senior Manager - Internal Audit Quantitative Modeling 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:

• Be responsible for model risk audit plan execution on a wide range of financial risk modeling areas including focusing on Interest Rate Risk, Market Risk, Liquidity Risk, and Counterparty Credit Risk Management, in areas of Treasury, Corporate Finance, and Capital Markets. Lead, oversee, and manage internal audits from planning to reporting. This includes ensuring the audit scope is adequate for issuing an overall opinion on internal controls and risk management practices to senior management; executing audit work, drafting, supporting, and communicating audit issues; assessing management remediation plans; and reviewing audit work papers in line with audit methodologies.
• Assess the effectiveness of model risk controls, model risk management practices, and governance framework to draw conclusions and generate insights. Connect dots to identify emerging risks based on the full body of audit work performed.
• Keep up with the latest developments in coverage areas in terms of products, processes, models, risk management practices, industry standards, and regulatory landscape. Develop audit programs/projects to ensure effective controls are implemented.
• Contribute to continuous monitoring and a dynamic evaluation of management’s model residual risk assessment and reporting against risk tolerance.
• Contribute to the development of the model risk audit plan and the team’s strategy.
• Drive process improvements to enhance auditing efficiency and effectiveness.
• Continually develop strong working relationships with business stakeholders to be a trusted advisor and drive improvement actions.
• Motivate, influence, and develop a team of Internal Audit modeling professionals. Provide technical guidance, inspire staff engagement, and drive risk identification.

THE EXPERIENCE YOU BRING TO THE TEAM

Minimum Required Experience

• 6+ years’ proven tracking record of effectively performing model risk related activities (model development or model validation) in financial institutions, consultancy or regulatory bodies.
• Experience in one or more of the following areas: Basel II / III regulatory framework for market risk / IRRBB / liquidity management, pricing/valuation model for mortgage products (MBS; CMBS; whole loans).
• 3+ years’ technical managerial experience, with demonstrated leadership in managing and leading a team of quantitative staff and the ability to establish credibility across teams to influence change.
• Strong quantitative and analytical skills; a track record of applying critical thinking and analytical skills to identify risk and assess impact.
• Excellent verbal and written communication skills and ability to effectively interact with other functions on model-related issues, and deliver complex technical information to diverse audiences in a meaningful way.
• Risk and control mindset.  
• Detail-oriented, self-motivated, and willing to learn.

Desired Experience

• Leadership Skills
  • Adept at working with people with different functional expertise respectfully and cooperatively to work toward a common goal.
  • Collective capabilities for leadership, including leading teams, giving feedback, coaching and mentoring.
  • Influencing including negotiating, persuading others, facilitating meetings, and resolving conflict.
  • Adept at managing project plans, resources, and people to ensure successful project completion.

• Education and Other Requirements
  • Master or Ph.D. degree in a quantitative discipline such as Statistics, Quantitative Finance, Economics, etc.
  • Hands-on knowledge and experience with one or more technical tools such as R, Python, C/C++, SQL, or SAS
  • Knowledge of model risk controls
  • Technical managerial experience at a large financial institution
  • Knowledge of mortgage finance and the secondary mortgage market

REF12240T/ Internal Audit - Quantitative Modeling - Senior Manager

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Fannie Mae is primarily a hybrid company.  We embrace flexibility for our employees while providing office space for in-person work and collaboration.  This role is classified as open to remote. If you speak with a Recruiter, they will provide you with more information about the definition of this classification.

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. 

The hiring range for this role is set forth on each of our job postings located on Fannie Mae's Career Site. 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.