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Economic Model Analyst II

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


Internal Audit is seeking an Economic Model Analyst to conduct and review analyses of effects of different economic conditions on the company's products, assets, or investments for the purposes of independent Internal Audit assessments of model risk. Identify and evaluate economic trends and their impact on financial and statistical models used across Fannie Mae for pricing, valuations, credit risk management, market risk management, financial reporting, and forecasting purposes.


KEY JOB FUNCTIONS

 

  • Conduct economic research on public, proprietary, or lender data to assess trends or patterns for the purposes of an independent assessment of reasonableness of a variety of models used across the company.
  • Examine macroeconomic data and their implications for modeling of home prices, interest rates, and similar economic drivers of loan behavior.
  • Apply sophisticated econometric or quantitative methods to evaluate the full life cycle of models used across the company, focusing on model design/methodology, inputs and outputs, usage, model performance, monitoring and change management processes.
  • Review technical documentation written by model owner and ensure that they are accurately implemented.
  • Conduct fieldwork, including data analysis, technical reviews, and other substantive testing relating to model risk related controls. Document and maintain sufficient supporting information and facilitate the presentation of findings and conclusions in accordance with the department's work paper standards.

EDUCATION

 

  • Bachelor’s degree or equivalent
  • Area of preferred study Economics, Finance, Mathematics or Statistics 

CERTIFICATIONS

  • CFA, FRM/PRM 

MINIMUM EXPERIENCE

  •  2 – 4 years of related experience 

SPECIALIZED KNOWLEDGE & SKILLS

  • Familiarity with multiple financial modeling disciplines, such as predictive modeling, asset-liability management, term structure modeling, derivatives pricing theory, quantitative risk management, etc.
  • Prior experience building, testing, and/or validating financial/economic/statistical models required, including review of inputs, assumptions, methodologies and outputs.
  • Prior experience with modeling tools such as SAS, R, Matlab or comparable application required.
  • Demonstrated ability to evaluate controls over model development, implementation and operation.
  • Analytical skills inclusive of the ability to evaluate facts and data to draw conclusions, even if information is limited as well as explain problems or situations using a basic systematic framework.
  • Ability to adapt and work in a frequently changing and unstructured environment and deal with ambiguity. 
  • Team player that works collaboratively with various team members to accomplish integrated solutions. 

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: 59828