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, visit www.fanniemae.com.
The Senior Financial Economist position as a member of the Business Analytics and development division will be responsible for developing, testing, and implementing models for Single Family credit loss forecast. 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 new modification and loss mitigation programs. This position offers a unique opportunity to apply rigorous analytical and modeling skills to support credit loss forecast, financial reporting, and business strategies. In addition, this individual will conduct in-depth analyses of actual vs. predicted loan performance to validate models and identify the areas that the models can be improved.
KEY JOB FUNCTIONS
Model Development: Develop and update models for loss allowance estimation, credit expense forecast, loan modification strategies, and other loss mitigation applications.
Model Assessment and Enhancement: Assess the existing credit risk models, including delinquency transition, default, prepayment, acquisition, mod selection, and loss severity models and develop solutions to address the deficiencies.
Model Alignment: Compare the different credit risk models available in Fannie Mae of difference to align the model views.
Research the alternative modeling approaches that are consistent with accounting regulations and best suited for determining loss allowance.
Implementation of new models: Implement models to simulate multi-period loan performance in a model-integrated system. Conduct test to ensure the accuracy of the implementation.
Enhancement of forecast systems: Enhance the functions of loss forecast systems to meet dynamic business needs.
Mod Impact Analysis: Analyze and model the impact of new modification initiatives on loan performance and loss allowance. Research the optimal mod strategies that will have biggest impact on default, losses, and present values of future cash flow.
Business Applications of Loss Forecast: Support business applications with 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 model performance for important risk cohorts by checking the predictions against actual loan performance data.
Bachelor's Degree or equivalent required
Master's Degree preferred
6-8 years of related experience
Three plus years of experience in quantitative, economic, or financial analysis required.
SPECIALIZED KNOWLEDGE & SKILLS
Ability to independently lead and manage projects with minimal supervision
Superb SAS and Excel skills with 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
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.
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