Vice President - Risk Analytics

Dubai, Dubai, United Arab Emirates

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Company Description

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. 

What you will do:
Model development, monitoring, and implementation: 
•    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.

Analytical & technical skills: 
•    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:
o    Knowledge in advanced machine learning techniques and 
o    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.
 

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Tags: Computer Science Credit risk Econometrics Finance Machine Learning Mathematics ML models Python SAS Statistics Testing

Perks/benefits: Career development

Region: Middle East

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