Single-Family Third Party Operational Risk, Senior

Job DescriptionAt 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. As part of Freddie Mac's return to the office pilot, all employees, contingent workers and visitors must be fully vaccinated against COVID-19 in order to be on-site unless they have an approved accommodation.Position Overview:Freddie Mac's Single-Family division is in the process of building out is Third Party Risk Operational Risk program. The SF Third-party Risk Credit Risk Management Senior position will support the continued development and execution of operational risk assessments and monitoring for Single Family counterparties. This role will support the division in the design of the methodology to identify and evaluate operational risk for counterparties. The role will execute operational risk assessments for counterparties, support annual review planning, and related operational risk reporting. The role will work closely with other areas within the 1st line, 2nd line, and the enterprise for the continued enhancement of operational risk management. To learn more about the role and our excellent benefits, please apply!*This position may be performed remotely or at a Freddie Mac office*Our Impact:The Single Family Third Party Risk team is responsible for managing and leading all aspects of all of the risks associated with various Third Parties we engage with while supporting Freddie Mac's primary mission. The Third Parties include Seller Servicers, Mortgage Insurers, Reinsurers, Document Custodians, Suppliers, and more. We work business partners across the enterprise to ensure we can identify, quantify, mitigate, and communicate the risk associated with our Third Parties. The Third Party team ensures there is single point accountability to lead all risk types and communicate effectively across the organization.Your Impact:Freddie Mac's Single-Family division is in the process of building out its Third Party Risk program. This role will support the continued development of a divisional 1st line operational risk function for counterparties in Single Family. This role will support the division in building and maintaining the operational risk view of our third parties by developing and executing operational risk planning, assessments, and reporting.You will be responsible for the following functions as a key member of the SF Third Party Counterparty team:Operational Risk FrameworkThis role will support the development and ongoing improvements of the operational framework of Third Party Risk for Single Family. This will include the writing and maintenance of governance documents, operational risk assessment methodology for counterparties, setting reporting requirements, establishing and reporting on key risk indicators, and developing an annual risk review schedule for 3rd parties. This role will partner with other risk types within Third Party Risk to integrate the operational risk information into comprehensive risk scores for counterparties.Operational Risk Annual Planning & AssessmentsThis role will support the annual planning process of operational risk assessments to ensure the counterparties are evaluated on a risk basis. This role will execute operational risk assessments of existing counterparties in alignment with the annual plan and for new counterparties requiring assessments. These assessments will derive operational risk ratings for Single Family counterparties and steer in depth operational risk reviews of select counterparties.Operational Risk ReportingThis role will produce reporting of key operational risk information for Single Family counterparties to support the view of overall counterparty risk. The team will develop and produce operational risk focused metrics on an ongoing basis for counterparties and aggregate levels. The role will identify operational risk themes and communicate considerations for potential changes in business strategy based on the conclusion of the operational risk assessments and metrics. The metrics and reporting will include identification of outliers and opportunities for early intervention. The role will identify operational risk trends in counterparties that may require further analysis or influence for in-depth operational risk reviews. The role will include monitoring of key risk indicators and raising any issues that arise from the 3rd parties as appropriate.Qualifications:Bachelor's degree in related field or equivalent experience5-7+ years of related experience in internal audit, third party management, control management, or operational risk management at a large financial services institution(s)Deep knowledge and subject matter expertise of operational risk managementUnderstanding of third-party risks and management practices at large financial services institutionsStrong knowledge and experience with seller servicers and suppliers risk management, covering the full lifecycle of activities, including risk identification, assessment, mitigation, monitoring, and reportingUnderstanding of regulatory requirements and expectations related to third party risk management (e.g., FHFA)Ability to work effectively within a diverse group of partnersAbility to empower and encourage action through interpersonal skillsProactive leadership and partnership capabilitiesStrong written and oral communication skillsStrong eye for business and problem-solving abilityProven understanding/experience of all three 3rd party risk types (seller/servicers, suppliers, and other counterparties) is desired.Keys to Success in this Role:Highly motivated and positive self-starter with strong communication skills and the ability to multi-taskExcellent analytical skills and understanding of operational risk and control managementHighly organized, detailed oriented and able to optimally manage several projects at once.Willingness to learn and ability to adapt quickly to changing needs and requirements.Confident speaker that is able to facilitate discussions with all levels of staff, including executives.Strong analytical skills and the desire to identify and implement process improvements to build efficiencies and improve groups effectiveness.Collaboration skills and desire to be part of a robust team!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.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 and register with our referral code: MAC.Time-type:Full timeJob Category:RiskFLSA Status:Exempt