About the Job
Role Purpose: Lead the bank-wide independent model validation and model governance framework across all models used for risk, finance, compliance, and business decisioning. Ensure robust validation, effective model lifecycle governance, and proactive management of model risk in line with CBUAE Model Management Standards and global best practices.
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Responsibilities
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Independent Model Validation
- Lead validation across risk, finance, business, and compliance models.
- Ensure risk-based validation coverage based on materiality and complexity.
- Assess methodology, data, assumptions, performance, implementation, and documentation.
- Oversee back-testing, benchmarking, and ongoing monitoring.
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Enterprise Model Governance
- Own end-to-end model governance framework and lifecycle.
- Maintain model inventory, tiering, and ownership structure.
- Define and maintain Model Management policy and standards for each phase of model development, validation, implementation, usage, and monitoring.
- Oversee model changes, limitations, exceptions, and third-party models.
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Model Risk Appetite and Model Risk Management
- Define and implement model risk appetite and thresholds.
- Monitor model risk exposures and ensure timely remediation.
- Track validation findings and escalate material issues.
- Embed model risk within enterprise risk management.
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Management and Board Committee Governance
- Lead engagement with Model Management and Board Model committees.
- Present validation outcomes, key risks, and approval recommendations.
- Ensure decisions are documented, justified, and tracked.
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Regulatory Compliance and External Benchmarking
- Ensure compliance with CBUAE MMSG and related regulations.
- Align framework with global best practices (e.g., risk-based model risk management).
- Support audit and regulatory reviews.
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AI / ML Model Validation and Emerging Analytics
- Establish validation standards for AI/ML models.
- Assess explainability, bias, stability, and model drift.
- Ensure appropriate governance for complex models.
- Define monitoring and challenger model framework.
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Stakeholder Management and Advisory
- Partner with Risk, Finance, Compliance, IT, and Business teams.
- Provide independent challenge and advisory on model design and usage.
- Ensure timely closure of validation findings.
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Team Leadership
- Lead and develop a high-performing validation and governance team.
- Build capabilities across quantitative validation, governance, and AI/ML.
Requirements
- Master’s (or higher) in quantitative discipline (Economics, Statistics, Maths, Data Science, Finance, Engineering).
- 12–15 years in model validation / model risk management.
- Experience across risk, finance, and compliance models.
- Strong exposure to CBUAE regulations (MMSG).
- Experience with model governance frameworks and committees.
- Hands-on experience with AI/ML model validation.
Regulatory / Governance
- Deep knowledge of CBUAE Model Management Standards & Guidance.
- Familiarity with UAE banking regulations and global model risk frameworks.
Quantitative / Validation
- Strong expertise in validation techniques, model performance testing, and monitoring.
- Coverage across credit risk, IFRS9, stress testing, AML/fraud, and forecasting models.
- Understanding of AI/ML validation challenges and controls.
Leadership Competencies
- Strong executive presence and independent challenge.
- Ability to translate technical outputs for senior stakeholders.
- Strong governance mindset and attention to detail.
- Stakeholder management and delivery focus.
