Manager Model Governance and Model Validation

Abu Dhabi islamic bank; United Arab Emirates; On-site; AED 120,000 - 200,000; Full time

Job summary

A leading bank in the UAE is seeking a senior professional for a role in Group Risk Management. This position involves model governance, independent validation, and the application of advanced quantitative analytics. The ideal candidate will have extensive experience in risk management and a strong quantitative background, contributing to the bank's compliance and risk assessment efforts.

Qualifications

• Minimum 8 years in a technical role within financial or risk consultancy.
• Strong academic background with a quantitative major.
• Professional certifications such as FRM, PRM, CQF, or CFA are desirable.

Responsibilities

• Support model risk management and ensure compliance with regulatory standards.
• Lead the implementation of the validation framework for various models.
• Develop statistical tools using Excel, VBA, R, SAS, and Python.

Skills

Quantitative analysis

Model risk management

Statistical modeling

Communication

Education

Quantitative major

Tools

SAS

Python

VBA

R

Job description

Summary

This role supports a strategic function within Group Risk Management. It is a key contributor to the independent validation of models and generally supports the bank with advanced quantitative analytics capabilities and standards. The role also involves reviewing bank-wide exercises such as ICAAP and Stress Testing. It requires robust quantitative skills, independent thinking, and articulate communication skills to interact with a diverse range of stakeholders within Group Risk.

Key accountabilities and responsibilities

1. Model Governance
2. Support model risk management within the group, including activities like model identification, classification, tiering, assessment, inventory management, risk controls, and finding management.
3. Assist in implementing the model risk management framework and ensure compliance with regulatory standards and industry best practices.
4. Identify, assess, and mitigate model risks, escalating significant issues appropriately.
5. Ensure adherence to CBUAE Model Management Standards, Guidelines, and internal policies.
6. Independent Model Validation
7. Lead the implementation of the validation framework and review models related to trading, market, credit, pricing, liquidity, macroeconomic overlays, and others.
8. Validate non-risk models such as compliance, fraud, and business models.
9. Support the modeling team to ensure models are fit for purpose and compliant with internal and regulatory standards.
10. Develop statistical tools using Excel, VBA, R, SAS, Python to analyze models.
11. Review model documentation for completeness and accuracy.
12. Produce validation reports for senior management, auditors, and compliance as needed.
13. Support remediation of weaknesses identified during assessments or audits.
14. Provide industry best practice guidance for model development and related projects.
15. Ensure external models are robust and well-understood through comprehensive handovers.
16. Participate in testing and implementation of models.

Education and Experience

• Minimum 8 years in a technical role within financial or risk consultancy, especially risk management.
• Strong academic background with a quantitative major.
• Professional certifications such as FRM, PRM, CQF, or CFA are desirable but not mandatory.

Technical Skills

• Expertise in various risk models and methodologies, including credit, liquidity, market risk, and pricing.
• Strong technical skills in financial modeling and statistical software (SAS, Python, VBA, R).
• Experience with large data sets and financial markets/products.
• Knowledge of model risk management best practices, regulatory standards (Basel II/III, IFRS9), and CBUAE guidelines.

Interpersonal Skills

• Self-starter with the ability to work independently.
• Excellent communication skills in English.
• Ability to deliver presentations, work under tight deadlines, and collaborate in a team environment.

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