Vice President-Model Validation

RAKBANK; Dubai; On-site; AED 850,000 - 1,100,000; Full time

Job summary

RAKBANK in the United Arab Emirates seeks a senior leader to head bank-wide independent model validation and governance, covering risk, finance, compliance, and business decisioning. You will ensure robust validation processes and proactive model risk management in line with CBUAE standards and global best practices.

You will build and lead a high-performing team, manage model inventories and lifecycle, engage with risk and audit stakeholders, and implement AI/ML validation standards to address

Qualifications

• Master’s (or higher) in quantitative discipline (Economics, Statistics, Maths, Data Science, Finance, Engineering).
• 12–15 years in model validation and model risk management.
• Experience across risk, finance, and compliance models.
• Strong knowledge of UAE regulations (CBUAE MMSG) and global model risk frameworks.
• Experience with AI/ML model validation and governance.

Responsibilities

• Lead validation across risk, finance, business and compliance models.
• Oversee back-testing, benchmarking, and ongoing monitoring.
• Own end-to-end model governance framework and lifecycle.
• Define and maintain Model Management policy and standards.
• Engage with Model Management and Board committees to present findings.
• Ensure compliance with CBUAE MMSG and related regulations.
• Establish validation standards for AI/ML models and monitor drift.

Skills

Model validation

Model risk management

AI/ML validation

Stakeholder management

Executive communication

Education

Master’s degree or higher in quantitative discipline

Job description

Job Description:

Role Purpose

Lead the bank-wide independent model validation and model governance framework across all models used for risk, finance, compliance, and business decisioning. Ensure robust validation, effective model lifecycle governance, and proactive management of model risk in line with CBUAE Model Management Standards and global best practices.

What You Will Do:

Independent Model Validation

• Lead validation across risk, finance, business and compliance models
• Ensure risk-based validation coverage based on materiality and complexity
• Assess: methodology, data, assumptions, performance, implementation, and documentation
• Oversee back-testing, benchmarking, and ongoing monitoring

Enterprise Model Governance

• Own end-to-end model governance framework and lifecycle
• Maintain model inventory, tiering, and ownership structure
• Define and maintain Model Management policy and standards for each phase of model development, validation, implementation, usage and monitoring
• Oversee model changes, limitations, exceptions, and third-party models

Model Risk Appetite and Model Risk Management

• Define and implement model risk appetite and thresholds
• Monitor model risk exposures and ensure timely remediation
• Track validation findings and elevate material issues
• Embed model risk within enterprise risk management

Management and Board Committee Governance

• Lead engagement with Model Management and Board Model committees
• Present validation outcomes, key risks, and approval recommendations
• Ensure decisions are documented, justified, and tracked

Regulatory Compliance and External Benchmarking

• Ensure compliance with CBUAE MMSG and related regulations
• Align framework with global best practices (e.g., risk-based model risk management)
• Support audit and regulatory reviews

AI / ML Model Validation and Emerging Analytics

• Establish validation standards for AI/ML models
• Assess explainability, bias, stability, and model drift
• Ensure appropriate governance for complex models
• Define monitoring and challenger model framework

Stakeholder Management and Advisory

• Partner with Risk, Finance, Compliance, IT, and Business teams
• Provide independent challenge and advisory on model design and usage
• Ensure timely closure of validation findings

Team Leadership

• Lead and develop a high-performing validation and governance team
• Build capabilities across quantitative validation, governance, and AI/ML

What We You Will Bring:

• Master’s (or higher) in quantitative discipline (Economics, Statistics, Maths, Data Science, Finance, Engineering)
• 12–15 years in model validation / model risk management
• Experience across risk, finance, and compliance models
• Strong exposure to CBUAE regulations (MMSG)
• Experience with model governance frameworks and committees
• Hands-on experience with AI/ML model validation

Regulatory / Governance

• Deep knowledge of CBUAE Model Management Standards & Guidance
• Familiarity with UAE banking regulations and global model risk frameworks

Quantitative / Validation

• Strong expertise in validation techniques, model performance testing, and monitoring
• Coverage across credit risk, IFRS9, stress testing, AML/fraud, and forecasting models
• Understanding of AI/ML validation challenges and controls

Leadership Competencies

• Strong executive presence and independent challenge
• Ability to translate technical outputs for senior stakeholders
• Strong governance mindset and attention to detail
• Stakeholder management and delivery focus

Requirements: