The Enterprise Risk Management Division (ERM) functions as a second line of defense, providing independent oversight of the company's risk management activities (including the aggregate view of risks). As a second line, we design and implement a comprehensive risk governance framework commensurate with the complexity and risk profile of the company. We establish enterprise-wide risk policies, standards, and recommend the enterprise risk appetite for Board approval. Within ERM, the Commercial Real Estate Credit Risk team is responsible for providing sound risk management over the Multifamily division of the company.
Act as a subject area expert when assessing the Multifamily business and portfolio. Own the oversight process of various functions performed by the first line of defense. Provide clear and concise risk assessments to senior management, the Board, and FHFA. Demonstrate full understanding of the Multifamily business model and end-to-end knowledge of its operating processes. Develop multifamily portfolio risk management oversight strategy. Develop portfolio profitability, return and capital deployment analyses for the multifamily portfolio. Conduct research and monitor markets to formulate forward looking views of risk positions. Develop and maintain relationships with various internal and external partners / clients. Ideal candidate will have demonstrated knowledge of the multifamily market and capital markets including: mortgage products, real estate finance, transactions and structures, legal contracts, loan documents, property/ collateral valuation, cap rates, credit, regional markets, securitizations, financial models and rating agencies' models. Typically has more than 7 years of industry-related experience.
Own and execute the end-to-end oversight process for various first line functions, including: new production, securitizations, new initiatives, loan loss reserves, risk rating, model changes, costing, capital/CCF, ROE, and risk appetite framework
Maintain an informed assessment of the multifamily market through surveillance of both internal and external research and market data.
Perform analysis on various elements of the multifamily portfolio, in support of credit risk management of the portfolio. Identify trends and draw reasonable conclusions from examination of data and other sources of information.
Provide timely, accurate and reliable reports to FHFA, Freddie Mac's Board of Directors, Management Committees and various department reports
Utilize internal reporting tools and systems to produce and analyze data, performance results, analysis and related reports.
Maintain clear documentation, validation, and evidence of controls over produced reports as well as developing, maintaining, or updating related procedures
Conduct proactive ad-hoc research /analysis ultimately resulting in a presentation with recommendations
Provide meaningful effective challenge to the first line of defense
Develop or improve standards for assessing credit risk
Represent the unit as an expert or resource to cross-functional project or coordinating teams
Assess new initiatives, identifying areas of specific risks and provide recommendations
Support non-routine project-based work including regulatory and internal audit activities
Maintain Knowledge of industry standard practices relating to CMBS issuance and structure.
Bachelor's Degree or equivalent required
7+ years of related experience
Strong analytical, research, and follow-up skills
Excellent written and oral communication skills
Ability to form partnerships, interact and work effectively with internal customers as well as with all levels of management within and across departments
Highly organized, team player, detail-oriented, with strong problem-solving abilities
Ability to work accurately and efficiently in an environment with changing priorities and tight deadlines
Ability to effectively communicate up, down and across the company to ensure issues are identified, resolved and communicated in a timely manner
Analytical skills and creativity to develop and consider alternative options for fulfilling requirements
Clear understanding of commercial real estate mortgage finance and Freddie Mac Multifamily mortgage products
Ability to navigate multiple systems, manage data and create reports. Ensure data quality and integrity. Independently resolve issues to mitigate risk. Improve processes to monitor and communicate credit risk.
Commercial real estate/multifamily underwriting and or portfolio risk management
CMBS, securitizations, structured finance experience
Proven capability to effectively present analysis, respond to questions, deliver difficult but balanced messages to senior management, peers, auditors and regulators.
Experience performing financial analysis
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. Freddie Mac is an equal opportunity and top diversity employer. EOE, M/F/D/V.