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Risk Model Development Lead

2 weeks ago

Dubai, Dubai, United Arab Emirates Dubai Islamic Bank Full time
Job Overview

Risk Model Development Lead is required to manage the credit risk modeling & stress testing activities, ensuring they align with the department / Bank's standards. The role involves developing robust statistical models to analyze, predict, and quantify the impact of credit risk affecting the bank.

Key Responsibilities
  1. Develop rating, IFRS9, and stress testing credit risk models for the wholesale portfolio, ensuring that all underlying models are fit for purpose, duly evidenced through relevant statistical tests and business sense.
  2. Establish a sound model development framework and guidelines in line with the department / Bank's standards.
  3. Develop new modeling methodologies, documentation templates, model user manuals, and model remediation techniques in line with the Bank / department's standards.
  4. Ensure compliance with regulatory Model Risk Management Standards, assess model risk, and make recommendations on model use.
  5. Review validation and audit findings to plan and execute remediations within agreed timelines.
  6. Lead implementation of the model development process and internal communication to guide model redevelopment, optimization, recalibration, and monitoring activities.
  7. Provide support in designing and UAT of risk DataMart for future modeling activities.
  8. Support team members by providing feedback, mentoring, and work oversight, keeping abreast of industry and regulatory developments and evolving expectations.

Required Skills and Qualifications

Minimum bachelor's degree or master's degree in a quantitative field e.g. engineering, statistics, econometrics is required. FRM/CFA will be a plus.

At least 7-8 years of relevant work experience in risk model development/model validation in the Banking industry, with expertise in model development and automation using SAS/R/Python environments.


Benefits

Dubai Islamic Bank offers a dynamic and challenging work environment.