Manager Model Validation
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Key skills for this role
About the Role
ADCB is seeking a Manager Model Validation to conduct validation procedures and manage model risk according to policy and regulatory requirements. The role requires at least 5 years of quantitative risk management experience and a Master's degree in a quantitative science.
Key Skills for This Role
Responsibilities
- Assess the appropriateness and construction of models with respect to their current or planned use to determine model risk
- Review model risk assessments consistent with the model's risk content and intended usage
- Produce validation reports according to policy and format including identification of model limitations, assumptions, conditions for use and level of model risk
- Communicate model risk issues and suggestions during the validation process to Model Owners/Developers/Users
- Manage self and team in line with ADCB's people management policies
- Organize and supervise activities and work of the team to ensure targets and objectives are achieved
- Implement approved departmental policies, processes and procedures
- Contribute to identification and implementation of change initiatives
- Demonstrate ADCB's service standards in all internal and external customer interactions
Requirements
- At least 5 years of experience in quantitative risk management with excellent understanding of Basel II/III standards
- Master's Degree in a Quantitative Science (Finance, Economics, Mathematics, Statistics, Actuarial Science, Financial Engineering or similar)
- Prior experience developing or validating risk models from end to end
- Advanced programming skills using statistical/mathematical software (SAS, MATLAB, R, Python, VB or similar)
- Proficiency in MS Office and database management languages such as SQL
- Knowledge of regulatory and compliance requirements (CBUAE and Basel)
Full Job Posting
Role Purpose
- To conduct and complete all validation procedures and validate models under the purview of the Model Validation Unit (MVU), to ensure the model risk is correctly appropriately managed according to ADCB's Model Risk Management Policy and Model Validation Guidelines and comply with regulatory requirem
Key Responsibilities
- Assess the appropriateness and construction of models with respect to their current or planned use in order to determine the level of model risk associated, its assumptions, mathematical implementation, the underlying data and its system implementation.
- Review appropriate model risk assessments consistent with the models risk content and intended usage in order to produce a validation report according to the policy and format including identification of model limitations, assumptions, conditions for model use and level of model risk.
- Obtain and provide information on models, communicate model risk issues and suggestions during the validation process, reporting on findings to ensure effective two way communication with the Model Owners/Developers/Users set expectations.
- Manage self and team in line with ADCB's people management policies, procedures, processes and practices to ensure adherence and to maximize own and employee contribution to business performance.
- Organize and supervise the activities and work of the team to ensure that targets and objectives are achieved and the business plan is delivered in line with the required policies, processes, procedures and systems.
- Implement approved departmental policies, processes and procedures, and ensure employee adherence so that work is carried out to the required standard while delivering the required standards of service to customers and stakeholders.
- Manage and motivate the team to ensure they contribute to, and participate in, the identification and implementation of change initiatives, programmes and projects in line with the bank's standards.
- Demonstrate Our Promise and apply the ADCB Service Standards to deliver the bank's required levels of service in all internal and external customer interactions.
Required Skills And Experience
- Minimum Experience: At least 5 years of experience in quantitative risk management with an excellent understanding of Basel II/III standards.
- Minimum Qualifications: Masters Degree in a Quantitative Science (Finance, Economics, Mathematics, Statistics, Actuarial Science, Financial Engineering or similar).
- Knowledge and Skills: Prior experience developing or validating risk models from end to end.
- Advanced programming skills using statistical/mathematical software. MS Office (Word, Excel, PowerPoint, Outlook, Access) SAS, MATLAB, R, Python, VB or other statistical modeling software and database management languages such as SQL.
- Database Management and Administration Financial Statement Analysis (MRA, scorecard, portfolio ratings) Financial Statement Review (MRA, scorecard, portfolio ratings) Regulatory and Compliance Knowledge (CBUAE and Basel) Planning, Forecasting and Monitoring (Stress Tests, ICAAP) Risk Evaluation and
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