Manager - Model Governance & Model Validation

ADIB Group; Abu Dhabi; On-site; AED 120,000 - 200,000; Full time

Job summary

ADIB Group is seeking a Manager to oversee Model Governance and Model Validation in Abu Dhabi. This strategic role requires expertise in model risk management and quantitative analysis, contributing to regulatory compliance and model validation processes across the bank. Candidates should possess a strong academic background, complemented by relevant experience in risk management, and be proficient in statistical tools like SAS, Python, and R.

Qualifications

• Minimum 8 years in technical field within financial or risk consultancy.
• Strong quantitative major and experience with various risk models.
• Desirable qualifications in FRM, PRM, CQF or CFA.

Responsibilities

• Support model risk management and compliance with regulations.
• Lead implementation of model validation framework and validate bank models.
• Provide oversight on industry best practices for model development.

Skills

Quantitative skills

Communication skills

Independent thinking

Education

A strong academic background with a quantitative major

Professional certification in risk management or quantitative analysis (FRM, PRM, CQF, CFA)

Tools

SAS

Python

VBA

R

Job description

Description

Role: Manager - Model Governance & Model Validation

Location: Abu Dhabi UAE

Summary:

• This role supports a strategic function within Group Risk Management.
• It is a key contributor to the independent validation of models and more generally supports the bank with advance quantitative analytics capability and standards.
• The role also contributes to review of 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 / responsibilities:

Model Governance:

• Support model risk management within the group and perform various model risk activities such as model identification model classification / tiering assessment model inventory management model risk controls and model finding management.
• Support in the implementation of the model risk management framework across the group and ensure compliance with regulatory requirements and the industrys best practices.
• Support in Identify assess and mitigate model risk and escalate any significant findings or incidents to model governance committee.
• Ensure that the Bank meets the requirement of the CBUAE Model Management Standards and Guidelines as well as internal model validation and governance frameworks and policies

Independent Model Validation:

• Lead the implementation of the model validation framework.
• Validate and review the various models of the bank with a focus on trading risk market risk credit risk pricing liquidity time series modelling macroeconomic overlay models and ensure that the model development is in line with the banks policy and procedure and regulatory requirements.
• Validate and review other non-risk models including compliance fraud and business models
• Support the modelling team to ensure that models are fit for purpose and meet the demands of internal risk management and regulatory requirements.
• Lead the development of statistical tools in Excel/VBA/R/SAS/Python to analyze models sensitivity and behavior. Also review the model documentation to ensure that it captures model theory sensitivity and limits.
• Lead to the production of timely validation reports to Senior Management to external and internal auditors and to the Compliance function as and when required.
• Support the correction of any weaknesses identified during assessment or audit pertaining to models.
• Provide oversight and guidance in terms of industry best practice for model development and quantitative related projects.
• Contribute to ensuring that models provided by external parties (vendors consultants) are robust and fully understood by the risk department through comprehensive handovers. Take part in the implementation testing.

Education and Experience:

• Minimum 8 years in a technical field within the financial or risk consultancy industry especially with risk management.
• A strong academic background with a quantitative major.
• A professional certification or qualification in risk management quantitative analysis or a related field such as FRM PRM CQF or CFA is desirable but not mandatory.

Technical skills:

• A strong background and expertise in various types of models such as credit risk liquidity risk market risk capital pricing and other risk models and the associated methodologies techniques and tools.
• Robust technical quantitative skills in the field of financial modelling.
• Robust technical knowledge of credit scoring and market / trading systems and their use.
• Experience of large and complex data sets.
• Experience of statistical software (such as SAS Python VBA and R Statistics)
• Knowledge of financial markets and products.
• Robust knowledge of model risk management best practices and regulatory requirements CBUAE model management standards and guidance document
• Robust knowledge of risk management best practices and regulatory requirements - including Basel II & Basel III and IFRS9 regulations.

Interpersonal Skills:

• Self-starter ability to work independently and undertake the necessary research.
• Good oral and written communication skills in English
• Ability to deliver presentations
• Flexible team player and able to work and deliver under short deadlines

Required Experience:

Manager