Manager - Model Validation and Governance

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About the business area

ADCB prioritizes a disciplined approach to risk, recognizing its fundamental importance to the Bank’s long-term organizational and financial resilience. Group Risk Management oversees the implementation of ADCB's risk objectives, identifying and addressing gaps in the bank's risk infrastructure/framework. Their responsibilities include nurturing the independence of the risk function, establishing provisioning policies, and introducing changes to energies risk awareness among front office personnel and decision-makers. Continuously tuning the risk organization in line with market best practices, they manage ADCB's portfolio and associated risks to international standards, while establishing a clear risk culture across all areas of operation.

In this role, your key responsibilities include:

• To conduct and complete all validation procedures and validate trading book and IRRBBB models under the purview of the Model Validation and Governance Unit (MVG) to ensure the model risk is correctly appropriately managed according to ADCB’s Model Risk Management Policy and Model Validation Guidelines and comply with regulatory requirements set forth by the Central Bank of the UAE (CBUAE).
• Assess the appropriateness and construction of models (Front Office Pricing, VaR, Counterparty Credit Risk, Liquidity Risk, IRRBB and ALM models) with respect to their current or planned use in order to determine the level of model risk associated, its assumptions, mathematical implementation, the underlying data and its system implementation.
• Obtain and provide information on models, communicate model risk issues and suggestions during the validation process, reporting on findings to ensure effective two-way communication with the Model Owners/Developers/Users set expectations.
• Review appropriate model risk assessments consistent with the model’s risk content and intended usage in order to produce a validation report according to the policy and format including identification of model limitations, assumptions, conditions for model use and level of model risk.
• Adhere to all relevant organizational and departmental policies, processes, standard operating procedures, and instructions so that work is carried out to the required standard and in a consistent manner while delivering the required standard of service to customers and stakeholders.

The ideal candidate should have the following experience

• At least 6 years of experience in quantitative risk management with an excellent understanding of Basel II/III standards
• Master’s Degree in a Quantitative Science (Finance, Economics, Mathematics, Statistics, Actuarial Science, Financial Engineering or similar
• Prior experience developing or validating risk models from end to end
• Strong understanding of Foreign Exchange Markets, Money markets, Derivatives, Fixed Income, Structures and Liquidity Risk Management
• Advanced programming skills using statistical/mathematical software (Python, R, MATLAB) and MS Office (Word, Excel, PowerPoint, Outlook, Access)
• Experience with Market Risk & Front office Quant/ Risk Quant
• Advanced knowledge of  MUREX (preferred), BLOOMBERG or REUTERS is an asset

What we offer:

• Competitive Salary & Additionally, all employees are eligible to participate in one of our rewarding variable pay plans.
• Comprehensive Benefits Package: This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).
• Flexible and Remote Working Options: We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.
• Learning and Development Opportunities: We value and facilitate continuous learning and personal development through a variety of exciting learning opportunities, such as structured instructor-led courses, a comprehensive e-learning catalog, on-the-job training, and professional development programs.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.