• Mashreq Bank Careers | Model Risk Management, Dubai, UAE

    Mashreq Bank Careers | Model Risk Management, Dubai, UAE

    Location: Dubai - United Arab Emirates

    Job Description

    The purpose of Manager, MRM position is to lead the end-to-end management of model risk within Mashreq group including model validation and related activities.

    Duties and Responsibilities

    Your main responsibilities in this role include the following:

    • Be the central point of contact for management of all aspects of Model risk management including:

    • Defining the policy, scope and governance for model risk with Mashreq bank. Ensure the effective embedding of all these aspects.

    • Working with model developers in the Bank to inventorize current models. Define minimum information standards in this regard.

    • Developing and maintaining the methodology for determining risk tiering / classification of the model. Put all in-scope models through this approach to assign a risk classification.

    • Establishing metrics to enable definition and monitoring of the Bank’s Model risk profile

    • Oversee all aspects of model validation and related activities including:

    • Defining the holistic approach for validation of internal models in-line with model risk management policy

    • Forming and managing relationships with vendor partners to assist with validation of Mashreq Bank models, as required

    • Own the outcomes from validation exercises including ensuring reasonableness and validity of observations / findings. Be responsible for communicating these findings to the relevant individuals.

    • Follow-up and ensure timely resolution of all validation observations

    • Define and onboard tools for efficient management of data, information and analysis pertaining to model risk. Enable timely reporting of model risk profile.

    • Act as the secretary for Credit Model Governance Committee, the main body for review of credit models within Mashreq Bank

    Job Requirements

    • 10+ years of experience in a Banking or consulting environment with a strong lean on one or more of model development, reviews, validation and governance.

    • Post graduate qualification in a quantitative discipline, preferably Mathematics, Statistics or sciences.

    • Excellent communication ability including being able to eloquently explain complex concepts to non-quantitative individuals

    • Self-starter, solution-oriented and outcome driven individual

    • Maturity and presence to enable smooth interaction with set of senior stakeholders

    • Experience in model risk management of model validation function

    • Up-to-date knowledge of Model risk management practices

    Job Details

    Company: Mashreq Bank

    Employment Type: Full-time

    Job Location: Dubai, United Arab Emirates

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