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Vice President of Risk Analytics

On-site Full-time

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Experience Level

Mid to Senior

Qualifications

What You Will Bring:A degree in a relevant field. Analytical & Technical Skills:• Extensive experience in developing, monitoring, and validating statistical models for IFRS9/AIRB and relevant regulations (IFRS9, CRR, local regulatory frameworks).• Strong analytical and conceptual capabilities with a solid understanding of time series analysis.• A minimum of 10 years of hands-on experience in model development within a financial institution.• An academic background in quantitative fields (econometrics, mathematics, statistics, computer science).• Familiarity with risk modeling regulations such as Basel, IFRS9, and MMSG regulations.• Proficiency in programming languages like SAS, Python, or equivalent analytical software.• Preferred but not required: Experience with machine learning techniques.

About the job

As the Vice President of Risk Analytics, you will play a pivotal role in the development, enhancement, and execution of advanced modeling methodologies, including stress testing, IFRS9, and capital management for our wholesale portfolio.

Key Responsibilities:
Model Development, Monitoring, and Implementation:
• Lead the performance, upkeep, and refinement of wholesale risk models throughout various portfolio life cycles, including IFRS9 models, Probability of Default (PD), Loss Given Default (LGD), Exposure at Default (EAD), and stress testing.
• Ensure models are accurate, reliable, and compliant with all regulatory mandates.
• Continuously realign models to track performance, providing ongoing guidance for all lending activities concerning wholesale portfolios.
• Review and assess the bank’s wholesale risk to identify opportunities for model improvements and process enhancements, recommending changes to senior management and implementing cutting-edge techniques for optimal decision-making tools.
• Oversee the correct implementation of models while supporting their use, interpretation, and ongoing monitoring.
• Create and maintain a comprehensive model inventory ensuring compliance with model governance policies.
• Collaborate closely with the Enterprise Risk Management (ERM) team for stress testing and Internal Capital Adequacy Assessment Process (ICAAP) submissions.
• Stay informed on updates to IFRS9 standards and requirements, implementing necessary changes to models and methodologies.

Team Management:
• Lead a dedicated team of model developers, ensuring their output meets the highest standards of accuracy, timeliness, and quality.

Stakeholder Management:
• Assist business, risk, finance, and audit departments with model-related inquiries, providing essential information and analyses.
• Work alongside stakeholders to support Expected Credit Loss (ECL) calculations and validation of IFRS9 reporting.
• Aid the model validation team with amendments, validation, and verification tasks.
• Liaise with business functions, credit approval, collections, and other related areas to drive model usage, monitor overrides, analyze new requirements, and gather feedback on existing models.

Core Responsibilities:
• Rigorously analyze databases for risk modeling, further developing them while ensuring quality assurance.
• Create wholesale models in alignment with external guidance and standards, overseeing recalibration until all components align.
• Facilitate the implementation of models.
• Identify process changes impacting credit risk models, offering expert support to adapt accordingly.

About RAK Bank

RAK Bank is dedicated to fostering a culture of innovation, growth, and excellence. We transcend the traditional banking model, embodying a thriving community driven by teamwork, advanced solutions, and unwavering governance standards.

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