Head of Model Risk Management
About This Role
Key Responsibilities
- Lead the end-to-end Model Risk Management framework, ensuring robust oversight across all business areas.
- Develop and implement model risk policies, standards, and risk appetite in line with regulatory requirements and internal governance.
- Chair the Model Oversight Committee, driving effective governance, escalation, and decision-making on model-related risks.
- Oversee model validation activities, including review and challenge of validation outputs and management of external vendors.
- Maintain oversight of the model inventory, ensuring accurate classification, coverage, and ongoing monitoring of model risk exposure.
- Provide regular reporting on model risk metrics, emerging issues, and key insights to senior management and board-level committees.
- Act as the primary point of contact for regulators and auditors, supporting reviews and ensuring compliance with applicable standards.
Key Requirements
- Proven experience in model risk management, model governance, or validation within a financial services environment.
- Strong knowledge of regulatory frameworks such as UAE Central Bank standards, Basel guidelines, and IFRS 9.
- Experience overseeing a wide range of models, including credit risk, market risk, liquidity, and capital models.
- Track record of managing third-party providers and external validation engagements.
- Ability to engage and influence senior stakeholders, regulators, and audit functions.
- Degree in a quantitative discipline (e.g., Mathematics, Statistics, Finance, Economics, or Engineering).
- Professional certifications such as FRM, CFA, PRM, or CQF are considered advantageous.
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