Job description

The Manager - Model Risk Management & Validation at Dubai Islamic Bank (DIB) is responsible for the development and implementation of Model Risk Management governance and the validation of credit risk, market risk, liquidity, finance and business models in accordance with internal policies and regulatory requirements. The role conducts robust and comprehensive qualitative and quantitative validation of IFRS 9, PD Ratings/Scorecards, Stress Testing, statistical and deterministic models used in ICAAP/Pillar II and Market and Liquidity Risk models, as well as finance and other business models, ensuring alignment with the Bank Model Validation Guidelines and the Model Governance Framework and compliance with regulatory requirements including those from the CBUAE. Core activities include performing data due diligence and data preparation for validation; validating models within pre-defined validation frequency; discussing validation results and findings with stakeholders; agreeing remediation processes; and tracking timeliness and progress of remediation actions. The position ensures accuracy and completeness of archived validation information (data, codes, working files and related documentation) to enable independent third-party review; provides technical review of quantitative solutions proposed by model developers to model owners; coordinates with other quantitative analysts to ensure consistency of models and solutions with bank practices; supports development and maintenance of the Model Risk Management framework covering the Model Governance Framework and related policies (including risk appetite, tiering and other risk policies and processes regarding models) in line with applicable regulations and industry best practices; supports development and maintenance of the Model Validation Guidelines; ensures strict governance for adoption and ongoing use of models across the bank including compliance with approved policies, procedures, SLAs and regulatory requirements; escalates exceptions promptly; develops and maintains a comprehensive Model Inventory consistent with the Model Governance Framework; develops and maintains a Validation Findings Tracker covering model-related findings from internal/external model validation, internal/external audit exercises and from the CBUAE; and undertakes training and self-learning to upgrade technical skills to remain aligned with best market practices. The role requires expertise in model development and automation using SAS, R, and Python environments and a background in quantitative disciplines such as engineering, statistics, or econometrics.