Manager - Model Governance & Model Validation

Abu Dhabi islamic bank; United Arab Emirates; On-site; AED 180,000 - 250,000; Full time

Job summary

A leading bank in the UAE is seeking a Risk Management professional with strong quantitative skills and experience in model governance. This role involves validating models related to trading, market, and credit risks while ensuring compliance with regulatory standards. The ideal candidate will have a strong academic background, excellent communication skills, and the ability to work independently. This is an opportunity to contribute to a strategic function within Group Risk Management.

Qualifications

• Minimum 8 years in a technical role within financial or risk consultancy.
• Professional certifications like FRM, PRM, CQF, or CFA are desirable.

Responsibilities

• Support model risk management and ensure compliance with regulatory standards.
• Lead the implementation of the model validation framework.
• Produce validation reports for senior management and auditors.

Skills

Quantitative Skills

Communication

Model Governance

Education

Bachelor of Business Administration

Post Graduate

Tools

Excel

VBA

Python

SAS

R

Job description

Bachelor of Business Administration (Management)

Nationality: Any Nationality

Vacancy: 1 Vacancy

Job Description

Job Location: United Arab Emirates

Experience: 8 to 15 years

Education: Graduate; Post Graduate

Job Function: Risk Management, Quantitative Analysis

Preferred Jobseekers: Jobseekers from any GCC country

Summary

This role supports a strategic function within Group Risk Management. It is a key contributor to the independent validation of models and 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 Responsibilities

1. Model Governance:
   • Support model risk management within the group, including model identification, classification, inventory management, risk controls, and findings management.
   • Assist in implementing the model risk management framework and ensure compliance with regulatory standards and industry best practices.
   • Identify, assess, and mitigate model risks, escalating significant findings to the model governance committee.
   • Ensure adherence to CBUAE Model Management Standards and internal validation and governance policies.
2. Independent Model Validation:
   • Lead the implementation of the model validation framework.
   • Validate models related to trading risk, market risk, credit risk, pricing, liquidity, and macroeconomic models, ensuring compliance with policies and regulations.
   • Review non-risk models such as compliance, fraud, and business models.
   • Support model development to ensure fit for purpose and regulatory compliance.
   • Develop statistical tools using Excel/VBA/R/SAS/Python for sensitivity and behavior analysis.
   • Produce validation reports for senior management, auditors, and compliance teams.
   • Address weaknesses identified during assessments or audits.
   • Guide industry best practices for model development and quantitative projects.
   • Ensure external models are robust and well-understood through comprehensive handovers and testing.

Education and Experience

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

Technical Skills

• Expertise in models such as credit risk, liquidity risk, market risk, and related methodologies.
• Strong quantitative skills in financial modeling.
• Knowledge of credit scoring and trading systems.
• Experience with large datasets and statistical software (SAS, Python, VBA, R).
• Knowledge of financial markets, products, and regulatory standards including Basel II & III, IFRS9.

Interpersonal Skills

• Self-motivated, independent worker, capable of research.
• Excellent communication skills in English, both oral and written.
• Ability to present effectively.
• Flexible team player, able to work under tight deadlines.