Senior Vice President and Head of Model Risk

Rakbank; United Arab Emirates; On-site; AED 300,000 - 450,000; Full time

Job summary

A leading bank in the UAE is seeking a Senior Vice President & Head of Model Risk to oversee model risk management functions. The role involves developing frameworks and ensuring comprehensive risk assessments. The ideal candidate will have extensive experience in risk management, particularly in banking, and will lead a dynamic team to enhance the bank's risk management capabilities.

Benefits

Competitive salary and benefits package

Opportunities for professional development

Supportive and collaborative work culture

Qualifications

• 15 years of senior risk management experience, with at least 10 years in banking.
• Experience in leading and managing risk units/teams.

Responsibilities

• Leading the development of risk appetite statements.
• Overseeing model risk management activities and regulatory compliance.
• Conducting comprehensive model risk assessments.

Skills

Analytical Skills

Communication and Collaboration

Problem-Solving and Decision-Making

Ethical Standards and Integrity

Education

Tertiary qualification in Statistics

Tertiary qualification in Mathematics

Tertiary qualification in Econometrics

Tools

Python

SAS

R

SQL

Job description

Senior Vice President & Head of Model Risk

The SVP & Head of Model Risk oversees the bank's model risk management functions, including developing and implementing frameworks, policies, and procedures. This role ensures all risks are identified, assessed, monitored, and reported comprehensively and timely.

What You Will Be Doing:

• Leading the development of risk appetite statements.
• Overseeing model risk management activities, including validation, performance monitoring, and regulatory compliance.
• Managing the model risk governance framework.
• Manage model management functions and prioritize model reviews.
• Conduct rigorous testing and validation of models.
• Enhance the model risk management framework.
• Lead and develop the Model Risk team.
• Provide subject matter expertise and partner with business managers.
• Conduct comprehensive model risk assessments and manage governance.
• Liaise with stakeholders and stay updated on regulatory changes.
• Ensure robust model risk management controls and processes.
• Initiate proactive measures to manage model risks.
• Assure senior management and regulators of risk management alignment with the Bank's program.
• Foster a vibrant team culture.

What We Are Looking For:

• Coach, mentor, and develop staff.
• Provide oversight and direction to employees.
• Implement recommendations from auditors, regulators, and rating agencies.
• Adhere to the Bank's Strategic, Governance framework, and CBUAE policies.
• Authorized to take decisions as per the approved authorization matrix.
• Analytical Skills: Proficient in analyzing data and trends.
• Communication and Collaboration: Excellent verbal and written communication skills.
• Subject Matter Expertise: Deep understanding of market risk management.
• Problem-Solving and Decision-Making: Strong problem-solving skills.
• Risk Management: Expertise in conducting risk assessments.
• Technical Proficiency: Familiarity with market risk management systems.
• Ethical Standards and Integrity: Upholds high ethical standards.
• Tertiary qualification in Statistics, Mathematics, Econometrics.
• Industry certifications preferable (FRM, CFA).
• Experience in Python, SAS, R, SQL.
• 15 years of senior risk management experience, with at least 10 years in banking.
• Experience in leading and managing risk units/teams.

What You'll Gain:

• Competitive salary and benefits package.
• Opportunities for professional development and career advancement.
• A supportive and collaborative work culture.
• Access to cutting-edge tools and technologies.