Vice President - Model Validation

Overview

This leadership role demands overseeing the independent validation and governance of all models across risk, finance, compliance, and business decision-making functions within the bank. The role ensures robust validation, effective model lifecycle management, and proactive risk oversight aligned with the Central Bank of UAE's Model Management Standards and global benchmarks.

Key Duties

• Lead risk-based independent validation efforts for models spanning risk, finance, business, and compliance sectors.
• Evaluate methodologies, data quality, assumptions, model performance, implementation, and documentation thoroughly.
• Supervise back-testing, benchmarking, and ongoing model monitoring.
• Own the complete model governance framework including model inventory, tiering, ownership, and policy definition for all phases from development to usage and ongoing monitoring.
• Manage changes, exceptions, limitations, and oversight of third-party models within the governance framework.
• Define and implement model risk appetite, risk thresholds, and monitor model risk exposures ensuring prompt corrective measures.
• Track validation findings rigorously and escalate significant issues as necessary.
• Integrate model risk considerations within the broader enterprise risk management approach.
• Engage and lead Model Management and Board committees, presenting validation outcomes, associated risks, and recommendations for approvals with full documentation and rationale.
• Ensure compliance with CBUAE Model Management Standards & Guidance and related regulatory frameworks while aligning with global model risk best practices.
• Prepare and support audit and regulatory reviews related to model management.
• Develop validation standards tailored to AI/ML models, assessing aspects such as explainability, bias, stability, and model drift, while ensuring a comprehensive governance and challenger model framework for complex analytic models.
• Collaborate closely with cross-functional teams in Risk, Finance, Compliance, IT, and Business to provide independent challenge and advisory on model design and usage, and ensure timely resolution of validation issues.
• Lead, mentor, and develop a high-performing team specialized in quantitative validation, governance, and AI/ML model validation capabilities.

Qualifications and Experience

• Master's or higher degree in a quantitative discipline such as Economics, Statistics, Mathematics, Data Science, Finance, or Engineering.
• 12 to 15 years of experience in model validation and model risk management, covering risk, finance, and compliance models.
• Strong familiarity with CBUAE regulations, particularly the Model Management Standards and Guidance.
• Proven experience managing model governance frameworks and committee engagements.
• Practical expertise in validating AI and machine learning models.

Regulatory and Technical Expertise

• In-depth knowledge of CBUAE Model Management Standards and UAE banking regulations.
• Understanding of global frameworks related to model risk management.
• Proficient in validation methodologies, performance testing, and model monitoring.
• Experience validating diverse model types including credit risk, IFRS9 accounting, stress testing, AML/fraud detection, and forecasting models.
• Knowledgeable regarding AI/ML model validation challenges and controls.

Leadership and Communication

• Exhibits strong executive presence with the ability to provide independent challenge.
• Capable of translating complex technical results into insights understandable by senior leadership.
• Demonstrates a strong governance-driven approach with exceptional attention to detail.
• Skilled in stakeholder management and focused on timely delivery of outcomes.