Vice President - Risk Analytics

RAKBANK; Dubai; On-site; AED 300,000 - 400,000; Full time

Job summary

A leading financial institution in Dubai is seeking a VP-Risk Analytics to support model development and enhance risk methodologies. The ideal candidate will have over 10 years of experience, strong analytical skills, and a background in statistical model development within a banking context. Tasked with managing a team, you will ensure compliance with regulatory standards while driving innovative risk assessment strategies to support the bank's objectives.

Qualifications

• 10+ years of experience in model development at a financial institution.
• Strong experience with IFRS9 and AIRB models.
• Knowledge of Basel, IFRS9 & MMSG regulations is essential.
• Certifications such as FRM/PRM/CFA/CQF are preferred.

Responsibilities

• Lead the performance and enhancement of risk models.
• Support model validation and ensure compliance with regulations.
• Manage a team of model developers and ensure high standards of quality.

Skills

Statistical models' development

Analytical skills

Stakeholder management

Programming in SAS/Python

Education

Degree in a relevant field

Academic degree in quantitative field

Tools

Risk modelling regulations

Job description

Overview

At RAKBANK, we are committed to nurturing a culture of innovation, growth, and excellence. We go beyond being a bank – we are a thriving community fueled by teamwork, advanced solutions, and unwavering standards of governance.

Job Description

As a VP-Risk Analytics, you will support the development, enhancement, and implementation of a suite of model’s methodologies (e.g., stress testing, IFRS9, capital) and scorecards for the wholesale portfolio.

Responsibilities

• Lead the performance, the maintenance and enhancement of wholesale risk models across life cycle of various portfolios (IFRS9 models, PD, LGD, EAD, stress testing).
• Ensure the model remain accurate, reliable, and compliant with regulatory requirements.
• Constantly realigns models to monitor performance with the aim to provide on-going guidance on all lending activities for the wholesale portfolios.
• Review Bank’s wholesale risk and identify opportunities to improve models and processes, make recommendation to senior management for model change / enhancements and implement cutting edge techniques to maximize value and develop best in class decision tools.
• Oversees accurate implementation of model and support their use, interpretation, and monitoring.
• Develop and maintain a model inventory and ensure the inventory is complete, accurate, and consistent with the model governance policy.
• Support and work closely with ERM team for stress testing and ICAAP submissions.
• Stay up to date with changes in IFRS 9 standards and requirements and implementing changes to the models and methodologies as necessary.

Team management

• Manage a team of model developers to ensure that the team's work meets the highest standards of accuracy, timeliness, and quality.

Stakeholder management

• Assist the business, risk, finance, audit departments in model related queries and provide with necessary information and analysis.
• Work closely with all stakeholders to assist in ECL calculation and validation of IFRS9 reporting.
• Support model validation team for model amendments, validation, and verification.
• Liaise with business functions, credit approval, collections, and other related functions to drive use, monitor overrides, analyze new requirements and feedback on existing models.

Core Responsibilities

• Critically examine the databases for risk modeling, develop them further and ensure their quality assurance.
• Develop wholesale models according to external guidance and standards requirements, monitor and recalibrate until everything fits.
• Support the implementation of the models.
• Identify process changes that have an impact on the credit risk models and provide expert support for their implementation.
• Respond in a timely manner to internal audit and external regulator queries.

Qualifications

• What you will bring : Degree in a relevant field.
• Strong experience in statistical models’ development, monitoring, validation of IFRS9 / AIRB models and relevant regulations (IFRS9, CRR, local regulator, etc.)
• Strong analytical and conceptual skills with a good understanding of time series analysis.
• At least 10 years of extensive experience in first-hand practical experience model development at a financial institution.
• Academic degree in quantitative field (econometrics, mathematics, statistics, computer science).
• Knowledge of risk modelling regulations such as Basel, IFRS9 & MMSG regulations
• Proficiency in programming languages like SAS, Python, or equivalent analysis software.
• Preferrable but not essential : Knowledge in advanced machine learning techniques and
• Industry certifications (FRM / PRM / CFA / CQF).
• Previous experience in leading and managing risk units / teams.
• Strong stakeholder management skills allowing to pull together the efforts of several functions, as well as making sure the business objectives of the bank are met.

Seniority level

• Mid-Senior level

Employment type

• Full-time

Job function

• Other

Industries

• Banking