The purpose of Manager, MRM position is to lead the end-to-end management of model risk within Mashreq group including model validation and related activities.
Key Result Areas:
Be the central point of contact for management of all aspects of Model risk management including:
Defining the policy, scope and governance for model risk with Mashreq bank. Ensure the effective embedding of all these aspects.
Working with model developers in the Bank to inventorize current models. Define minimum information standards in this regard.
Developing and maintaining the methodology for determining risk tiering / classification of the model. Put all in-scope models through this approach to assign a risk classification.
Establishing metrics to enable definition and monitoring of the Bank’s Model risk profile
Oversee all aspects of model validation and related activities including:
Defining the holistic approach for validation of internal models in-line with model risk management policy
Forming and managing relationships with vendor partners to assist with validation of Mashreq Bank models, as required
Own the outcomes from validation exercises including ensuring reasonableness and validity of observations / findings. Be responsible for communicating these findings to the relevant individuals.
Follow-up and ensure timely resolution of all validation observations
Define and onboard tools for efficient management of data, information and analysis pertaining to model risk. Enable timely reporting of model risk profile.
Act as the secretary for Credit Model Governance Committee, the main body for review of credit models within Mashreq Bank
Knowledge, Skills and Experience
10+ years of experience in a Banking or consulting environment with a strong lean on one or more of model development, reviews, validation and governance.
Post graduate qualification in a quantitative discipline, preferably Mathematics, Statistics or sciences.
Excellent communication ability including being able to eloquently explain complex concepts to non-quantitative individuals
Self-starter, solution-oriented and outcome driven individual
Maturity and presence to enable smooth interaction with set of senior stakeholders
Experience in model risk management of model validation function
Up-to-date knowledge of Model risk management practices
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