RAKBANK - Vice President | Dubai, United Arab Emirates
RAKBANK is Hiring Vice President in Dubai, United Arab Emirates!
Vice President – Model Validation
Location: United Arab Emirates
Role Purpose
Lead the bank’s independent model validation and model governance framework across risk, finance, compliance, and business models. Drive robust validation practices, effective model lifecycle governance, and proactive model risk management aligned with CBUAE Model Management Standards and industry best practices.
Key Responsibilities
Independent Model Validation
- Lead validation activities across risk, finance, compliance, and business models.
- Ensure risk-based validation coverage based on model complexity and materiality.
- Assess model methodology, data quality, assumptions, performance, implementation, and documentation.
- Oversee back-testing, benchmarking, and ongoing model performance monitoring.
Enterprise Model Governance
- Own and manage the end-to-end model governance framework and lifecycle.
- Maintain model inventory, classification, and ownership structures.
- Define and update model management policies and standards covering development, validation, implementation, usage, and monitoring.
- Oversee model changes, limitations, exceptions, and third-party models.
Model Risk Management
- Define and implement model risk appetite, thresholds, and controls.
- Monitor model risk exposure and ensure timely remediation of identified issues.
- Track validation findings and escalate material concerns.
- Integrate model risk management within the enterprise risk framework.
Governance & Committee Management
- Lead engagement with model management and board-level committees.
- Present validation results, key risks, and approval recommendations.
- Ensure governance decisions are documented, justified, and tracked.
Regulatory Compliance
- Ensure compliance with CBUAE Model Management Standards and related regulations.
- Align governance practices with global model risk management frameworks.
- Support internal audits and regulatory reviews.
AI/ML Model Validation
- Establish validation standards for AI and machine learning models.
- Assess model explainability, bias, stability, drift, and performance.
- Define governance, monitoring, and challenger model frameworks for advanced analytics.
Stakeholder Management
- Partner with Risk, Finance, Compliance, IT, and Business teams.
- Provide independent challenge and advisory support on model development and usage.
- Ensure timely closure of validation findings.
Team Leadership
- Lead and develop a high-performing model validation and governance team.
- Strengthen capabilities across quantitative validation, governance, and AI/ML oversight.
Qualifications & Experience
- Master’s degree or higher in Economics, Statistics, Mathematics, Data Science, Finance, Engineering, or a related quantitative discipline.
- 12–15 years of experience in model validation or model risk management.
- Experience across risk, finance, and compliance models.
- Strong exposure to CBUAE Model Management Standards and regulatory requirements.
- Hands-on experience with AI/ML model validation and governance frameworks.
Required Skills
Regulatory & Governance
- Deep understanding of CBUAE Model Management Standards and related guidance.
- Familiarity with UAE banking regulations and global model risk management frameworks.
Quantitative & Validation Expertise
- Strong knowledge of validation methodologies, performance testing, and model monitoring.
- Experience with credit risk, IFRS 9, stress testing, AML/fraud, and forecasting models.
- Understanding of AI/ML validation challenges and control frameworks.
Leadership Competencies
- Strong executive presence and ability to provide independent challenge.
- Ability to communicate complex technical concepts to senior stakeholders.
- Excellent governance, stakeholder management, and delivery capabilities.