Vice President - Risk Analytics
Dubai, Dubai, United Arab Emirates
RAKBANK
Discover why RAKBANK is the best choice for banking in the UAE. From personal accounts, business solutions, wholesale banking and Islamic banking. We offer a range of services designed to meet your needs. Enjoy top-notch customer service,...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.
* Salary range is an estimate based on our AI, ML, Data Science Salary Index 💰
Tags: Computer Science Credit risk Econometrics Finance Machine Learning Mathematics ML models Python SAS Statistics Testing
Perks/benefits: Career development
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