Hiring During COVID-19: Fannie Mae is hiring for all open positions as we deliver on our mission of providing stability, liquidity, and affordability to the housing market during this critical time. All interviews and onboarding are conducted virtually. We look forward to connecting with you. Learn more

Operational Risk Manager - Internal Loss Program Lead

Job Description

THE COMPANY

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.

JOB INFORMATION

Manage a unit whose staff identify, measure, and monitor the company's operational risk in how its transactions and infrastructure function. Staff assess risks from unauthorized trading, software or hardware failures, lack of oversight of operations, or contingencies that would trigger disaster recovery programs. Assess threats to data integrity and security of networks and the consequences of failures or breaches. Recommend or implement risk mitigation strategies or practices.

KEY JOB FUNCTIONS

  • Confer with management of units whose operational risk is tracked to understand operational processes and to identify likely intersections, handoffs, bottlenecks and access points where operational risk is greater. Establish metrics for the business unit.
  • Assign staff in assessing, measuring, and reporting operational risk, using established methodology and criteria. Assign and prioritize work to staff according to corporate standards and regulatory reporting requirements.
  • Assess proprietary applications developed for staff to use in aggregating, analyzing, and assessing operational risk in the course of studying assigned units. Suggest business or system requirements to technical staff for refinements of these applications.
  • Prepare assessments or reports for business unit management, division or corporate management. Suggest adaptations to operational risk assessment tools, policies, or procedures based on empirical data generated by current experience.
  • Plan, document, and manage the performance of subordinate managers and/or staff. Provide for professional or technical growth through assignment, mentoring, or training.
  • Represent the unit as an expert or resource to cross-functional project or coordinating teams.

EDUCATION

Bachelor’s degree is required, Master’s preferred, in Accounting, Business, Economics, or IT/IS


MINIMUM EXPERIENCE

6-8 years of related experience


SPECIALIZED KNOWLEDGE & SKILLS
  • Experience at a large, complex financial institution, ideally with a background working in the operational risk function of the large financial institution
  • Experience managing internal loss data program, inclusive of oversight activities/requirements, establishing guidelines and data capture requirements
  • Experience and knowledge of US regulatory requirements for sound operational risk management (e.g. OCC Heightened Expectations, FRB LFI Guidance)
  • Experience in a highly dynamic environment undergoing change; ability to function effectively at all levels of the organization in a highly complex business environment, dealing with competing priorities
  • Strong written and verbal communication, problem solving, collaboration and negotiation skills, required
  • Providing subject matter expertise, advising on risk management best practices and conducting analysis to strengthen risk posture.
  • Use expertise to provide effective challenge of 1st LOD
EMPLOYMENT

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: 59493