Job Description:
FANNIE MAE
THE COMPANY
Fannie Mae exists to expand affordable housing and bring global capital to local communities in order to serve the U.S. housing market. Today, our focus is on preventing foreclosures, making mortgages and rental housing as affordable as possible, and supporting the housing recovery. We are rapidly building and realigning our company to better serve the market as we support the Administration's Homeowner Affordability and Stability Plan.
Join our dedicated, diverse, high-performing workforce and put your unique talents to good use as we work with our partners to advance our nation's housing recovery.
For more information about Fannie Mae and our career opportunities, please visit www.fanniemae.com
JOB INFORMATION
The Senior Financial Economist position as a member of the Loss Forecasting and Allowance team will be responsible for developing, testing, and implementing models to forecast Single Family credit loss. S/he will play a key role in enhancing the existing loss forecast and loss reserve models with innovative solutions in response to and anticipation of the changing market conditions such as foreclosure moratorium, Making Home Affordable Initiatives, and Home Affordable Refinance program. This position offers an unique opportunity to apply rigorous analytical and modeling skills to support risk management and critical financial reporting. In addition, this individual will conduct in-depth analyses of actual and predicted loan performance to validate models and identify the risk factors influencing credit loss.
KEY JOB FUNCTIONS
Model Assessment and Enhancement: Conduct comprehensive research to assess the credit risk models available at Fannie Mae, including delinquency transition, default, prepayment, acquisition, loss severity, sampling, and REO disposition models. Identify weakness in the existing models and develop enhancement to address the deficiencies.
Research the alternative modeling approaches that are consistent with accounting regulations and best suited for determining loss allowance.
Model Development: Develop and update models to estimate incurred and expected credit loss of Fannie Mae's mortgage portfolio for loss allowance calculation, credit expense forecast, and other risk management applications.
Implementation of new models and enhancement of forecast systems: Implement models to simulate multi-period loan performance in a model-integrated system. Enhance the functions of loss forecast systems to meet dynamic business needs.
Work with internal and external analysts to understand the causes of mortgage delinquency and default and provide insights obtained from analyses to guide loss mitigation product development.
Impact Analysis: Analyze and model the impact of changes in housing market conditions such as foreclosure moratorium and Home Affordable Modification Program on loan performance and loss allowance.
Business Applications of Loss Forecast: Support business applications with loss forecast runs and analyses of historical and forecast trends. Design and develop analytical tools to deliver the loss forecast results in an intuitive and easy-to-use format.
Model backtest: Monitor the loan and model performance by checking the predictions against actual loan performance.
EDUCATION
Master degree in economics, finance, statistics, accounting or a related field required.
Experience in the mortgage and housing industries preferred.
Ability to independently lead and manage projects with minimal supervision
Superb SAS Excel skills
Basic knowledge of UNIX
Strong intellectual curiosity with attention to details to ensure the quality of data and the soundness of the models and to advance the current state of forecasting
Excellent verbal, presentation and written communication skills with an ability to explain technical concepts and complicated results to a diverse audience technical and non-technical
A strong sense of urgency
Flexibility to work additional hours when needed to meet challenging deadlines
Ability to work in a team environment, establish and maintain relationships within and across divisions
MINIMUM EXPERIENCE
Five plus years of experience in quantitative, economic, or financial modeling required. Experience in the mortgage and housing industries preferred.
SPECIALIZED KNOWLEDGE & SKILLS
Four plus years of experience in quantitative, economic, or financial analysis/modeling required
Superb SAS and Excel skills
Experience in the mortgage and housing industries preferred
Ability to independently lead and manage projects with minimal supervision
Basic knowledge of UNIX
Strong intellectual curiosity with attention to details to ensure the quality of data and the soundness of the models and to advance the current state of forecasting
Excellent verbal, presentation and written communication skills with an ability to explain technical concepts and complicated results to a diverse audience technical and non-technical
A strong sense of urgency
Flexibility to work additional hours when needed to meet challenging deadlines
Ability to work in a team environment, establish and maintain relationships within and across divisions
MINIMUM EXPERIENCE
Five plus years of experience in quantitative, economic, or financial modeling required. Experience in the mortgage and housing industries preferred.
SPECIALIZED KNOWLEDGE & SKILLS
Four plus years of experience in quantitative, economic, or financial analysis/modeling required
Superb SAS and Excel skills
EMPLOYMENT
As a condition of employment with Fannie Mae, any successful job applicant will be required to pass a pre-employment drug screen and to successfully complete a background investigation, which may also include a credit check for positions in some areas of our business.
Fannie Mae is an Equal Opportunity Employer.
|
Add to My Saved Jobs
Print this Job