Third Party Risk Management, Director (Hybrid – 3 Days In Office)

Position Overview:

Freddie Mac’s Single-Family division is in the process of building out is Third Party Risk Management Program. The SF Third-party Risk Director will lead in the continued development of a divisional 1st line oversight function across all business lines for Single Family Portfolio & Servicing Division. This role will lead the division to a consolidated risk view of our third parties by developing a repeatable governance and reporting structure while working with multiple business lines and risk types.

The role will work closely with other leadership areas within 2nd line and the enterprise for the continued framework development. To learn more about the role and our excellent benefits.

Our Impact:

The Single Family Third Party Risk Management 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 Servicers and their Third Parties (our Fourth Party), Mortgage Insurers, Reinsurers, Document Custodians, and Suppliers. Our team works with 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 manage all risk types and communicate effectively across the organization.

Your Impact:

You will be responsible for the following functions as a key leader of the SF Third Party Counterparty team:

• Monitoring 3rd Parties The Director will manage the composite scoring processes and identify 3rd parties of the highest risk. The understanding of the 3rd parties will include identification of outliers and opportunities for early intervention. The coordination will also include monitoring of KRI’s and raising any issues that arise from the 3rd parties as appropriate
• Coordination of Information This role will coordinate data and information across Single Family to ensure 3rd party reporting is complete and all encompassing. The team will lead the 3rd party risk assessment process and track progress against the plans to ensure risk mitigation. The Director will communicate any needed changes in business strategy based on the conclusion of the risk assessments and review
• Framework Development This role will oversee the execution of the new Third Party Risk governance structure for Single Family. This will include the writing of governance documents, establishing risk assessment requirements across the division, setting reporting requirements, establishing KRI’s and developing an annual risk review schedule for 3rd parties

Qualifications:

• Strong intuition for business and problem-solving
• Proactive leadership and partnership capabilities
• Understanding of regulatory requirements and expectations related to third party risk management (e.g., FHFA)
• Deep knowledge and subject matter expertise of the third-party management lifecycle and its overall business processes, controls and risk exposure (e.g., third party identification, selection, management, termination), and applicable laws and regulations
• Ability to work effectively and collaboratively with diverse group of partners
• Solid understanding and experience with seller servicers and suppliers risk management, covering the full lifecycle of activities, including risk identification, assessment, mitigation, monitoring, and reporting
• Typically has 12+years of related experience and 7+ years of management experience.
• Bachelor’s degree in related field, Master's preferred
• Strong written and oral communication skills
• Ability to empower and inspire action through interpersonal skills
• A solid understanding/experience of all three 3rd party risk types (seller/servicers, suppliers, and other counterparties)
• Understanding of third-party risks and management practices at large financial services institutions
• 10+ years of experience in financial or operational risk management at a large financial services institution(s)

Keys to Success in this Role:

• Strong analytical skills and the desire to identify and implement operational improvements to build efficiencies and improve our team’s effectiveness
• Confident speaker that is comfortable facilitating discussions with all levels of staff, including executives
• Highly motivated and positive self-starter with strong people skills, communication skills, and the ability to multi-task
• Highly organized, detailed oriented and able to successfully manage several projects at once
• Excellent analytical skills and deep knowledge of operational risk management
• Strong collaboration skills and desire to be part of a robust team
• Willingness to learn and ability to adapt quickly to changing needs and requirements.

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 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 $159,000 - $239,000 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.