Job Description

Job Purpose
Primary responsibility is for the development and implementation of Model Risk Management governance and the validation of AI/ML and business models at Dubai Islamic Bank in line with internal policies and regulatory requirements.
Key Responsibilities
Responsible to conduct independent robust and comprehensive qualitative and quantitative validation of AI/ML models in Risk, Customer facing applications, marketing and different lines of Business areas of the Bank, in accordance with the Bank Model Validation Guidelines and the Model Governance Framework and ensuring compliance with regulatory requirements, Responsible AI principles and governance standards.
Perform data due diligence, check data lineage and data preparation required for the validation of models.
Evaluate theoretical and statistical soundness of AI/ML methodologies (e.g., gradient boosting, neural networks, NLP, LLMs) and review feature selection, transformations, and use of alternative or non-traditional data for regulatory appropriateness.
Perform independent testing of relevant aspects such as predictive performance, stability, robustness, overfitting, data leakage, stress testing, sensitivity to economic conditions and back testing. Assess explainability techniques (e.g., SHAP, partial dependence, surrogate models) for regulatory and customer-facing use and be able to explain the model to relevant stakeholders.
Ensure models are validated within the pre-defined validation frequency. Discuss validation results and validation findings with the different stakeholders, reaching agreements on the remediation process and keeping track of the timeliness and progress of such actions.
Ensure accuracy and completeness of archived validation information (data, codes, working files and related documentation) to allow independent third-party review of the validation work performed
Provide technical review of the quantitative solutions proposed by the model developer to the model owners in a timely manner.
Coordinate with other quantitative analysts within the Bank to ensure that models and solutions are consistent and in-line with the Bank practices.
Support on the development and maintenance of the Model Risk Management framework covering the Model Governance Framework and related policies, including risk appetite, tiering and other risk policies and other processes regarding to models, in line with applicable regulations and industry best practices.
Support on the development and maintenance of the Model Validation Guidelines related to advanced analytics and Gen AI and support the team in validation of other types of risk models as well.
Ensure that strict governance is followed for adoption and ongoing use of models across the bank - including compliance with the approved policies, procedures, SLAs and regulatory requirements.
Ensure that exceptions, if any, to the process are escalated promptly.
Develop and maintain a Model Inventory and ensure the inventory is complete, accurate, and consistent with the Model Governance Framework.
Maintain the Validation Findings Tracker, covering model related findings coming from internal/external model validation, internal/external audit exercises and from the CBUAE.
Train, develop and upgrade technical skills by identifying self-learning needs to stay up-to-date with the best market practices.
Competencies/Skills
Education
Bachelor's/Master's degree in Applied Math/ Applied Statistics/ Data Science/ Econometrics /Computer Science/ Artificial Intelligence & Machine Learning / Financial Engineering (with strong statistical/ML focus)
Work Experince
Minimum of 5 years of work experience in AI/ML model development or model validation in the Banking/Financial industry. In case of Master's degree experience req. may be relaxed by 2 years.

Skills Required