Manager - Model Governance & Model Validation

Client of Expert Skilled Human Resource Consulting

1. End-to-End Model Management & Ownership

• Act as the internal owner for all models developed by external consultants, vendors, or internal teams.
• Ensure complete knowledge transfer and handover from consultants, including:
• Model theory and methodology
• Data requirements and transformations
• Assumptions, limitations, and use cases
• Implementation logic and system integration
• Oversee the full model lifecycle, including:
• Model inception and design approval
• Development oversight
• Independent validation
• Implementation and testing
• Ongoing monitoring, review, and recalibration
• Model change management and retirement
• Ensure models are fit for purpose, correctly implemented, and aligned with business, risk, and regulatory objectives.

2. Model Governance

• Implement, monitor, and maintain the Model Risk Management Framework, including related policies, procedures, and standards, ensuring ongoing compliance with CBUAE Model Management Standards and internal requirements.
• Oversee end-to-end model risk management activities, including:
• Model identification, classification, and tiering/materiality assessment
• Model inventory management
• Definition, monitoring, and effectiveness of model risk controls
• Tracking, escalation, and closure of model findings and issues
• Oversee the entire model life cycle, from model initiation and development through validation, implementation, usage, ongoing monitoring, change management, and retirement.
• Lead the Model Governance Committees, including preparation of papers, analysis, and recommendations.

3. Data Management

• Active involvement in the development and maintenance of Data Management Framework (DMF).
• Ability to manage large structured and non-structured historical data for use in model development and validation.
• Systematic identification of sources, regular and frequent collection, rigorous data quality review and control, secure storage and controlled access with robust system infrastructure.

4. Model Development Oversight

• Ensure that the model development framework, standards, and processes are appropriate for the Bank and fully compliant with regulatory expectations.
• Oversee model development activities performed by external consultants or vendors, ensuring:
• Full transparency of methodologies and assumptions
• Adequate knowledge transfer to internal teams
• Alignment with approved model scope and intended use
• Ensure that model development documentation is comprehensive, accurate, and meets industry best practices and regulatory requirements.

5. Model Implementation & Testing

• Oversee and actively participate in model implementation, including:
• Translation of model specifications into systems and tools
• Implementation testing and parallel runs
• Reconciliation between development output and production results
• Ensure appropriate controls, documentation, and sign-offs are in place prior to model use.
• Validate that implemented models accurately reflect the approved methodology and validation conclusions.

6. Independent Model Validation & Quantitative Analysis

• Lead the independent model validation framework, validating risk and non-risk models including credit, market, liquidity, capital, IFRS 9, stress testing, pricing, macroeconomic, and business models.
• Independently challenge model methodologies, assumptions, data quality, performance, sensitivity, and implementation accuracy to ensure fitness for purpose.
• Ensure validation outcomes, limitations, and findings are documented, approved, and remediated in line with model life-cycle standards.
• Develop and apply quantitative validation tools using Python, SAS, R, VBA, and Excel to support back-testing, benchmarking, sensitivity, and performance monitoring.
• Review model documentation to ensure clarity on model purpose, methodology, assumptions, limitations, risks, and controls.

7. Stakeholder Engagement & Strategic Advisory

• Act as a key point of contact for CBUAE supervisory reviews, external and internal audits, and model-related assessments.
• Provide expert guidance and constructive challenge to internal stakeholders, consultants, and vendors, and ensure timely remediation of model weaknesses, audit findings, and external auditor observations.
• Ensure adherence to model development standards and quantitative best practices, contributing to bank-wide initiatives such as ICAAP, Stress Testing, and Recovery & Resolution Planning.
• Monitor regulatory developments and emerging trends in model risk management.