Friday , September 22 2023

Dubai Islamic Bank UAE Careers – Manager – Model Validation & IFRS9

Website Dubai Islamic Bank

Job Description:

DIB is looking for a Manager – Model Validation & IFRS9 to join the Group Risk Management Team. The responsibilities of the role include:


Job Responsibilities:

  • To support the development, enhancement and implementation of a suite of credit risk rating methodologies, models and scorecards compliant with regulatory requirements (e.g., IFRS 9, Stress Testing etc.) and also accountable for maintaining the Bank’s model inventory.
  • Responsible for maintaining Retail Credit Risk models/ scorecards with the aim to deliver robust tools that are compliant with both internal and external regulations and provide business insights and recommendations.
  • Collaboration with the other stakeholders to ensure models and methodologies are appropriate given overall governance framework and regulatory requirements.
  • Lead and perform the development and implementation of retail risk scoring models across life cycle of various retail portfolios (IFRS 9 Models, and Stress Testing).
  • Assist Business, Risk, Finance, Audit departments in scorecard related queries and provide with necessary information.
  • Work closely with all stakeholders to develop and implement PD, EAD, LGD models, assist in ECL calculation and validation for IFRS9 reporting in addition to creating stress testing models and policies.
  • Support Model validation team for models amendments, validation, and verification.
  • Review Bank’s risk scoring models and identifies opportunities to improve the models and processes, make recommendations to senior management for model change/ enhancements and implements cutting edge techniques in order to maximize value and develop best in class decision tools.
  • Oversees accurate implementation of models and supports their use, interpretation and monitoring and constantly realigns models to monitor performance with the aim to provide ongoing guidance on all lending activities for retail portfolios.
  • Develop new, maintain and enhance retail scorecards (application, behavior, collections/recovery, etc.).
  • Liaison with business functions, credit approval, collections and other related functions to drive use, monitor overrides, analyze new requirements and feedback on existing models.
  • Develop and maintain a model inventory and ensure the inventory is complete, accurate, and consistent with the model governance policy.
  • Propose amendments in the scorecards depending on policy changes and accordingly validate and implement the changes.

Job Requirements:

  • Minimum Bachelor’s degree. Other industry certifications or credentials will be pluses (e.g. CFA, FRM/ PRM)
  • Minimum 6 – 8 Years of extensive experience in a quantitative role in risk management at a financial institution with first hand practical experience with retail credit risk model development.
  • Sound understanding of various modelling techniques related to retails scoring models, Basel, IFRS 9, stress testing
  • Strong PD / LGD/ EAD and ECL modelling experience with the knowledge of implementation of the models
  • Experience in developing, maintaining and implementing sound macro-economic stress testing models and framework based on benchmark practices.
  • Advanced skill in SQL programming is a must and advanced skill in SAS, R, etc
  • Excellent knowledge of banking risk management (Basel IFRS 9, stress testing)
  • Knowledge of the UAE/ Gulf consumer/ retail lending market, its dynamics, pros and cons, etc

Job Details:

Company: Dubai Islamic Bank

Vacancy Type:  Full Time

Job Location: Dubai, United Arab Emirates

Application Deadline: N/A


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