Vice President - Risk Analytics

At Rakbank, we are committed to building a resilient and data-driven risk management framework that supports sustainable growth and regulatory excellence. You will be responsible for amontg other things,leading the Bank's regulatory modelling, impairment analytics, and portfolio risk measurement capabilities, ensuring robust governance, compliance, and strategic risk insights across the Bank's Retail, SME, Wholesale, Financial Institutions, and Bond portfolios. Additionally, you will be responsible for the development, validation oversight, implementation, monitoring, and ongoing governance of IFRS 9, regulatory capital, and internal rating models. The incumbent will lead the Bank's Expected Credit Loss (ECL) framework, ensuring alignment with regulatory requirements, accounting standards, model risk management principles, and the Bank's risk appetite, while providing strategic guidance to senior management on portfolio risk trends and credit risk management decisions.
 

What You will do:

• Lead the development, enhancement, and governance of regulatory risk models including PD, LGD, EAD, Rating Models, and ECL methodologies.
• Define modelling strategy and roadmap for Retail, SME, Wholesale, FI and Investment portfolios.
• Oversee model lifecycle management including development, recalibration, redevelopment, monitoring, implementation, and retirement.
• Ensure compliance with IFRS 9 requirements, CBUAE regulations, Model Risk Management standards, and internal governance frameworks.
• Oversee quarterly and monthly ECL production processes and ensure timely delivery of management, finance, audit, and regulatory submissions.
• Review and challenge macroeconomic forecasting methodologies, scenario design, overlays, and staging assessments.
• Lead interactions with Model Validation, Internal Audit, External Audit, Finance, and regulatory authorities.
• Establish model development standards, documentation requirements, monitoring thresholds, and governance practices.
• Provide strategic risk insights and recommendations to management committees and senior leadership.
• Manage team capacity, resource planning, capability development, and succession planning.
• Collaborate closely with the Enterprise Risk Management (ERM) team to support stress testing exercises and ICAAP submissions.
• Stay current with evolving IFRS 9 standards and regulatory expectations, incorporating necessary updates into models and methodologies.

Problem Solving & Complexity: 

• The role addresses highly complex analytical and regulatory challenges involving large-scale portfolios, evolving regulations, changing macroeconomic conditions, and model risk considerations. 
• The incumbent must exercise significant professional judgment when evaluating modelling assumptions, calibration approaches, expert overlays, and emerging portfolio risks while balancing regulatory expectations, accounting requirements, business objectives, and model performance.

Interaction: 

• The role engages extensively with senior stakeholders across Risk Management, Finance, Credit Policy, Business Banking, Retail Banking, Treasury, Data Management, and Technology functions. 
• The incumbent serves as the primary point of contact for Model Validation, Internal Audit, External Auditors, regulators, and consultancy partners on all matters relating to regulatory models and ECL methodologies. 
• Strong collaboration is required to ensure alignment between accounting, risk, capital, portfolio management, and regulatory requirements.

Frameworks, Bounderies, Decision Making Authority:

• Operates within approved Risk Appetite, IFRS 9 Policies, Model Risk Management Frameworks, Credit Risk Standards, and regulatory requirements. 
• Approves technical modelling approaches, monitoring frameworks, calibration methodologies, and model recommendations prior to governance submissions. 
• Accountable for ensuring appropriate controls, documentation, governance, and regulatory compliance across all regulatory modelling and impairment activities.

What You Will bring:

• Master's degree in Statistics, Mathematics, Econometrics, Finance, Data Science, or related quantitative discipline.
• Minimum 12-15 years of experience in credit risk analytics, regulatory modelling, or quantitative risk functions.
• Extensive hands-on experience in IFRS 9, PD, LGD, EAD, rating models, stress testing, and ECL methodologies.
• Strong knowledge of regulatory expectations, model risk governance, accounting requirements, and audit processes.
• Proven leadership experience managing modelling and analytics teams.
• Advanced proficiency in Python, SAS, SQL, Databricks, or equivalent analytical platforms.
• Demonstrates deep expertise in regulatory credit risk modelling, impairment methodologies, portfolio analytics, and model risk management.
• Possesses strong leadership and stakeholder management capabilities with the ability to challenge complex technical methodologies while effectively communicating to executive and regulatory audiences. 
• Exhibits strong governance orientation, sound judgement, strategic thinking, and the ability to balance technical rigor with practical business application. 
• Capable of leading multidisciplinary teams and driving continuous improvement across modelling, governance, and reporting processes.

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