Portfolio Risk Management Director

About this role

At Freddie Mac, our mission of Making Home Possible is what motivates us, and it’s at the core of everything we do. Since our charter in 1970, we have made home possible for more than 90 million families across the country. Join an organization where your work contributes to a greater purpose.

Position Overview: Are you an analytical and forward-looking risk leader who wants to help strengthen the housing finance system? In Freddie Mac’s Enterprise Risk Division, the Financial Risk – Counterparty Risk department provides independent oversight of the institutions and business partners that support our Single-Family and Multifamily mortgage portfolios. Our work helps Freddie Mac identify emerging risks, protect the company’s financial resilience, and support affordable and sustainable housing for families and communities nationwide.

The Portfolio Risk Management Director will lead a high-impact team responsible for counterparty risk analytics, governance, and oversight across mortgage insurers, reinsurers, seller/servicers, banks, and other key counterparties. This role combines financial analysis, portfolio surveillance, market intelligence, and transaction-driven risk assessment to influence risk appetite, approvals, escalations, and senior management decision-making.

Our Impact: Our team plays a critical role in helping Freddie Mac understand, anticipate, and manage counterparty risk across a dynamic mortgage market. By bringing together deep financial analysis, portfolio analytics, market monitoring, and independent risk judgment, we provide timely insights that inform business decisions, strengthen governance, and support the company’s mission. This is a role with opportunities to shape risk frameworks, influence cross-divisional outcomes, and engage with senior leaders on issues that matter to Freddie Mac’s safety, soundness, and public mission.

Your Impact: Lead and mentor analysts and provide guidance, setting direction, and ensuring key risk analytics and oversight deliverables are completed effectively. The role requires working effectively with senior management and cross-divisional partners, using influence and sound judgment to drive alignment and deliver results.

Counterparty Risk Analytics & Oversight • Assessment of counterparty financial strength, including liquidity, earnings, funding profile, capital adequacy, profitability, risk indicators, and qualitative risk factors, and evaluate potential impacts to counterparty credit risk.

• Conduct attribution and trend analysis to explain changes in counterparty exposures, risk profiles, and concentrations over time.

• Perform independent risk assessments for transaction-driven counterparty matters, including mergers and acquisitions, significant initiatives, and Freddie Mac’s new or expanded counterparty activities. Support counterparty onboarding and approval workstreams, including coordination across stakeholders and ensuring required artifacts are complete for decisioning.

• Review and provide risk assessments for methodologies and frameworks used for counterparty risk management such as counterparty exposures or counterparty ratings.  

Ongoing Counterparty Surveillance • Design and maintain ongoing counterparty monitoring frameworks, including financial metrics, performance indicators, and early‑warning signals for SF/MF counterparties.

• Identify, assess, and clearly articulate emerging counterparty risks, including deterioration in financial condition, structural vulnerabilities, or adverse market developments.

• Provide timely, decision-relevant risk insights to support proactive risk management actions. Escalate material counterparty concerns, mergers and acquisitions, limit breaches, or governance issues to senior risk leadership, and support CRO- and committee-level visibility as needed.

Cross‑Functional Collaboration • Partner closely with Single‑Family, Multifamily and Counterparty Credit Risk teams to ensure alignment of data, analytics, and risk messaging.

• Work closely with other Enterprise Risk teams, including Credit, Model Risk, Compliance, and Third-Party Risk Management, to support end-to-end risk governance across credit, capital, model, and regulatory dimensions.

Leadership & Capability Development • Promote strong analytical judgment, sound risk reasoning, and clear executive‑level communication.

• Drive continuous improvement in counterparty risk frameworks, policy standards, assessment documentation, and controls.

Qualifications: • 12- 15 + years of experience in counterparty credit risk and mortgage credit risk, with demonstrated expertise in counterparty financial analysis (capital

• adequacy, liquidity, earnings sustainability, funding structures, and stress performance) across financial institutions and non-bank counterparties.

• 2- 4 + years of people management experience

• Strong business and risk knowledge of mortgage insurers (MIs), reinsurers (RIs), and/or seller/servicers, including operating models, regulatory frameworks, capital regimes, and performance drivers across market cycles (preferred).

• Quantitative degree preferred in finance, economics, mathematics, statistics, or a related field; master’s degree or professional certifications (e.g., FRM, CFA) a plus.

• Strong decision-making skills, with the ability to work effectively under pressure to resolve critical issues.

• Excellent verbal and written communication skills, with the ability to communicate complex information to a variety of audiences (including senior management and regulators) in a clear and actionable manner.

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• Keys to Success in this Role:

• Bring independent risk judgment and a strong analytical mindset to complex counterparty issues, balancing quantitative evidence, business context, and sound risk reasoning.

• Lead with influence, clarity, and accountability—setting direction for the team while building trusted relationships with senior leaders and cross-divisional partners.

• Translate

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