Fannie Mae provides reliable, large-scale access to affordable mortgage credit in communities across our nation. We are the leading source of funding for housing in America, which means more people can buy or rent a home. We are focused on sustaining the housing recovery, improving our company, and leading change to make housing better.
Join our diverse, high-performing team and make a difference as we work together to enable access to a good home.
The Vice President, Operations Risk is responsible for the oversight for Fannie Mae's operational risk associated with financial accounting and reporting, process and transaction, people, inappropriate market practices, inappropriate customer management, and inadequate oversight and governance risks. This executive reports to the Senior Vice President, Enterprise Operational Risk and is accountable for an independent risk management oversight framework and assessment of the quantity and quality of risk across the Operations Risk domains to Fannie Mae's Compliance and Operational Risk Committee and Board of Directors.
KEY JOB FUNCTIONS
• Creates, implements, maintains, and oversees an effective operational risk management strategy framework across a wide variety of corporate functions and complex business lines.
Maintains and drives continuous improvement in Fannie Mae’s core operational risk programs; identifies gaps and informs solutions that minimize losses resulting from inadequate internal processes, systems, or human errors.
• Manages a team of Operational Risk team members that conduct activities required according to the Company’s roles and responsibilities for second-line risk management; creates a culture of talent engagement where others are motivated to do their best; focuses on talent development, retention, and recruitment.
• Directs the development and implementation of corporate operational risk reporting to be presented to and utilized by Senior Management and the Board to ensure effective ongoing oversight of operational risk on a corporate-wide basis.
• Effectively interacts and manages relationships with relevant internal and external independent review stakeholders (e.g. Internal Audit and financial regulators).
• Supports awareness across the enterprise of the relevant operational risk types/sub-types, including the risk taxonomy.
• Actively identifies and assesses, responds, and escalates risks as appropriate; proactively identifies and addresses changing risk profile.
• Understands and adheres to risk governance, including the purpose and implementation of the three lines of defense model.
• Informs policies, standards and procedures to maximize efficiency and minimize risk exposure.
• Researches new trends and policies in the operational risk space; participates in projects and / or activities that ensure compliance with applicable laws and regulations as well as with requirements of the risk management framework.
• Serve as Chair to the corporation’s Technology Risk Committee, including developing meeting agendas, presenting relevant information, and providing updates to senior risk governance committees on the activities and opinions of the ORC.
• Bachelor’s degree required and an advanced degree in business or applicable technical field highly preferred.
10 or more years of relevant experience
SPECIALIZED KNOWLEDGE & SKILLS
• 10+ years of relevant operational risk experience and at least 15 years of business leadership experience.
• Expert understanding of applicable laws and regulations; exposure to the broader mortgage industry (e.g., securitization, loan origination, interest rate profiles) and associated regulatory trends (e.g., FHFA requirements) as well as an understanding of the Company’s Operations Risk related core activities, processes, systems and associated risks / controls.
• Experience at a large, complex financial institution, ideally with a background working in the risk function of a SIFI (systematically important financial institution).
• A matured business acumen that proves credible to help business line(s) proactively identify and address changing risk profile.
• Interest in using data and technology to improve business decisions and processes, along with a desire for practical training in applied modeling and analytical methods.
• Superior executive communication, negotiation, and relationship-building skills; a results-oriented mindset.
• Demonstrated research and problem-solving skills.
• Strong process facilitation, a propensity for process management and improvement.
As a condition of employment with Fannie Mae, any successful job applicant will be required to successfully complete a background investigation.
Fannie Mae is an Equal Opportunity Employer.
Req ID: 58939