Senior Vice President and Head of Model Risk

Rakbank; Dubai; On-site; USD 150,000 - 200,000; Full time

Job summary

RAKBANK is seeking a Senior Vice President and Head of Model Risk to oversee model risk management functions in Dubai. The role involves developing risk frameworks, ensuring compliance, and managing a dedicated team, while offering competitive salary and advancement opportunities within a collaborative culture.

Benefits

Competitive salary and benefits package

Opportunities for professional development

Access to cutting-edge tools and technologies

Qualifications

• 15 years of senior risk management experience, with at least 10 years in banking.
• Industry certifications preferable (FRM, CFA).
• Experience in leading and managing risk units/teams.

Responsibilities

• Leading the development of risk appetite statements.
• Overseeing model risk management activities like validation and compliance.
• Conducting rigorous testing and validation of models.

Skills

Analytical Skills

Communication

Problem-Solving

Technical Proficiency

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 and Head of Model Risk

Senior Vice President and Head of Model Risk

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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.
• 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.

Seniority level

Seniority level

Mid-Senior level

Employment type

Employment type

Full-time

Job function

Job function

Other, Strategy / Planning, and Accounting / Auditing

Banking and Financial Services

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Senior President And • Dubai, Dubai, United Arab Emirates