At RAKBANK, we are committed to nurturing a culture of innovation, growth, and excellence. We go beyond being a bank – we are a thriving community fueled by teamwork, advanced solutions, and unwavering standards of governance.
As a VP-Risk Analytics, you will support the development, enhancement, and implementation of a suite of model’s methodologies (e.g., stress testing, IFRS9, capital) and scorecards for the wholesale portfolio.
What you will do:
Model development, monitoring, and implementation:
• Lead the performance, the maintenance and enhancement of wholesale risk models across life cycle of various portfolios (IFRS9 models, PD, LGD, EAD, stress testing).
• Ensure the model remain accurate, reliable, and compliant with regulatory requirements.
• Constantly realigns models to monitor performance with the aim to provide on-going guidance on all lending activities for the wholesale portfolios.
• Review Bank’s wholesale risk and identify opportunities to improve models and processes, make recommendation to senior management for model change / enhancements and implement cutting edge techniques to maximize value and develop best in class decision tools.
• Oversees accurate implementation of model and support their use, interpretation, and monitoring.
• Develop and maintain a model inventory and ensure the inventory is complete, accurate, and consistent with the model governance policy.
• Support and work closely with ERM team for stress testing and ICAAP submissions.
• Stay up to date with changes in IFRS 9 standards and requirements and implementing changes to the models and methodologies as necessary.
Team management:
• Manage a team of model developers to ensure that the team's work meets the highest standards of accuracy, timeliness, and quality.
Stakeholder management:
• Assist the business, risk, finance, audit departments in model related queries and provide with necessary information and analysis.
• Work closely with all stakeholders to assist in ECL calculation and validation of IFRS9 reporting.
• Support model validation team for model amendments, validation, and verification.
• Liaise with business functions, credit approval, collections, and other related functions to drive use, monitor overrides, analyze new requirements and feedback on existing models.
Core Responsibilities
• Critically examine the databases for risk modeling, develop them further and ensure their quality assurance.
• Develop wholesale models according to external guidance and standards requirements, monitor and recalibrate until everything fits.
• Support the implementation of the models.
• Identify process changes that have an impact on the credit risk models and provide expert support for their implementation.
• Respond in a timely manner to internal audit and external regulator queries.
What you will bring:
Degree in a relevant field.
Analytical & technical skills:
• Strong experience in statistical models’ development, monitoring, validation of IFRS9/AIRB models and relevant regulations (IFRS9, CRR, local regulator, etc.)
• Strong analytical and conceptual skills with a good understanding of time series analysis.
• At least 10 years of extensive experience in first-hand practical experience model development at a financial institution.
• Academic degree in quantitative field (econometrics, mathematics, statistics, computer science).
• Knowledge of risk modelling regulations such as Basel, IFRS9 & MMSG regulations
• Proficiency in programming languages like SAS, Python, or equivalent analysis software.
• Preferrable but not essential:
o Knowledge in advanced machine learning techniques and
o Industry certifications (FRM/PRM/CFA/CQF).
• Previous experience in leading and managing risk units/teams.
• Strong stakeholder management skills allowing to pull together the efforts of several functions, as well as making sure the business objectives of the bank are met.
We’re RAKBANK.
Banking should feel simple. Human. Helpful. So that’s the kind we build.
Since 1976, we’ve been helping people and businesses across the UAE grow with confidence, giving them the tools, the support, and the trust to make things happen.
We started as a community bank and grew into one of the country’s most dynamic financial institutions. What’s never changed is our belief that banking should work for people, not the other way around.
Today, we’re leading a new chapter, one that combines smart digital innovation with genuine human connection. We call it digital with a human touch.
We serve customers across every segment through our Personal Banking Group (PBG), Business Banking Group (BBG), and Wholesale Banking Group (WBG). As the UAE’s go-to SME bank, we’re helping thousands of businesses grow and thrive with seamless, digital-first banking.
Our group also includes Skiply, the region’s leading school payments app; Protego, our next-generation insurance aggregator; and RAK Insurance, one of the UAE’s most trusted insurers, together creating an ecosystem that makes life simpler and safer for our customers.
From empowering entrepreneurs and SMEs to launching the UAE’s first crypto brokerage for retail customers and our own AI-powered digital assistant, we’re shaping the future of banking while keeping the heart of it the same: people.
RAKBANK — Digital With a Human Touch.
