Director Enterprise Model Risk Governance

Freddie Mac; McLean (VA); On-site; USD 162,000 - 242,000; Full time

Job summary

Freddie Mac seeks a Director, Enterprise Model Risk Governance to advance risk governance across the model risk framework. You will lead a team, collaborate with model owners and validators, and drive lifecycle management from development to retirement under SR 11-7, 26-2, and FHFA guidelines.

This high-visibility role offers enterprise impact, collaboration with risk and business lines, and opportunities to shape AI/ML governance, risk systems, and controls in a fast-paced environment.

Qualifications

• 12+ years in model risk management, governance, validation, or related fields.
• Bachelor’s degree required; Master’s preferred in finance, economics, engineering, data science, or related field.
• Proven leader with track record of building and scaling teams in complex organizations.
• Deep understanding of model risk principles and regulatory expectations (SR 11-7, 26-2, FHFA AB).
• Experience in second line governance or risk oversight within financial services.
• Strong knowledge of model lifecycle: development, implementation, monitoring, validation, retirement.
• Familiarity with model risk tools, workflows, and requirements gathering.
• Understanding of model types like credit, loss forecasting, capital, valuation, pricing, or underwriting.
• Ability to challenge independently while partnering with first line teams.
• Experience supporting governance forums and reporting to senior stakeholders.
• Knowledge of enterprise model risk systems and governance workflows.
• Strong leadership, decision-making, and multi-priority management in fast-paced environments.
• Excellent written and verbal communication for senior management and regulators.

Responsibilities

• Provide second line governance and oversight across the enterprise model risk framework.
• Lead model governance activities to ensure consistent policy and standard application.
• Partner with model owners, developers, validators, and risk partners to manage lifecycle.
• Support development of risk management tools and systems via requirements and testing.
• Enhance model risk systems, workflows, and reporting for transparency and oversight.
• Build strong partnerships across Enterprise Risk to strengthen governance outcomes.
• Monitor industry trends and regulatory developments to inform program improvements.
• Identify opportunities to streamline, automate, and improve controls.
• Develop, coach, and lead team members, fostering accountability and collaboration.

Skills

Leadership

Communication

Governance oversight

Collaboration

Prioritization

Analytical thinking

Education

Bachelor’s degree

Master’s degree

Tools

Model risk tools

Risk reporting systems

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:

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 people manager, 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:

Director, 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

• Lead model governance activities to promote consistent application of model risk policies, standards, procedures, and governance requirements across business lines

• Partner with model owners, model developers, validators, and risk partners to support sound model lifecycle management, including model development, implementation, use, change management, performance monitoring, validation, and retirement

• 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

• Contribute to enhancements in model risk systems, workflows, and reporting capabilities to improve transparency, traceability, and oversight effectiveness

• Build strong partnerships with first line counterparts and across Enterprise Risk to strengthen model risk management practices and governance outcomes

• Monitor industry trends, regulatory developments, and emerging practices in model risk management and AI/ML governance to inform program improvements

• Identify opportunities for streamlining, optimizing and automating model risk processes and controls.

• Develop, coach, and lead team members while fostering a culture of accountability, collaboration, and continuous improvement

Qualifications:

• At least 12 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, engineering, data science, or a related field

• Proven leader with a track record of building, leading, and scaling high performing teams in complex organizations

• Strong understanding of model risk management principles and regulatory expectations, including SR 11-7, 26-2 and FHFA model AB

• Demonstrated experience in second line of defense model governance or model risk oversight within the financial services industry

• Strong knowledge of model lifecycle practices, including model development, implementation, use, performance monitoring, change management, validation, and model retirement

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

• Understanding of key model types used in financial institutions, such as credit risk, loss forecasting, capital, valuation, pricing, fraud, underwriting, or decision models

• Ability to provide effective challenge and independent oversight while building constructive partnerships with first line business and modeling teams

• Experience supporting governance forums, management reporting, and communication of model risk issues to senior stakeholders

• Familiarity with model risk systems, governance workflows, and enterprise model risk management

• Strong leadership, decision-making, and organizational skills, with the ability to manage multiple priorities in a fast-paced environment

• Excellent verbal and written communication skills with the ability to communicate complex model risk concepts clearly to a variety of audiences, including senior management and regulators

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

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.

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 $162,000 - $242,000 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.