JOB DESCRIPTION / ROLE
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.
Job Purpose
This job entails management of all risk analytics work streams related to Wholesale/Retail and Treasury Risk models. This is a very specialized role requiring a higher level of technical and analytics/ statistical skills.
Principle Accountabilities
- Development/monitoring of Wholesale/Retail credit risk models to support the assessment of ongoing credit risk profile inputs for the calculation of regulatory capital, IFRS9 / ECL Expected Credit Loss and Loss Allowance.
- As required, support and provide input into Wholesale/Retail Credit Risk with the development of acceptance scorecards, behavioral scorecards, and initiatives to develop the internal credit rating systems.
- Make key recommendations on model enhancements, including the development of statistical and analytical approaches that can improve quality and accuracy i.e. credit risk ratings, loss estimates, risk-weighted assets, stress testing, regulatory capital, ICAAP requirements, and to calibrate Through-The-Cycle and Point-In-Time default models.
- Interpretation of internal governance, policies, and Central Bank regulations pertaining to Model Risk.
- Development/monitoring of Treasury Models like IRRBB, VaR, XVA, PFE, etc.
- Upkeep of model documentation, including standard operating procedures, manuals and policies.
- Continuously review the Bank's strategy for Risk/Treasury Models and provide the right inputs to the Senior Management to highlight both the key risks as well as opportunities within the Retail Portfolio.
- Provide support to the Wholesale/Retail Credit Risk team and Treasury with information to enable decision making i.e. Wholesale risk strategies and portfolio actions.
- Regular communication with Internal stakeholders: Product, Audit, Technology, Finance, Operations. And External stakeholders: Auditors, CBUAE, Consultants, and Vendors.
- Interactions with the Senior Management often during meetings or for Risk Model related models matters.
- Providing management information to enable Board reports, risk reports, and regulatory reports.
REQUIREMENTS
Requirements
Experience and Qualifications
- 10+ years' experience of working in credit / risk/Treasury modelling for a leading Bank.
- Experience in Credit/Treasury risk/rating model development/ validation procedures and concepts and ability to manage own assignments independently.
- A degree in a numerate subject (e.g. mathematics, statistics, operational research, economics or MBA) from a reputed institute with knowledge of advanced statistical and analytical techniques.
Skills
- Strong Data Analytical skills.
- Extensive experience manipulating and analyzing large amounts of complex data, building and implementing predictive models
- Strong verbal and written skills that ensure you can explain technical concepts to less technically focused colleagues and produce suitable documentation.
- Database management including Risk models and Reporting tools
- Strong knowledge on R packages, MS Access, Excel and Power BI.
- Strong knowledge of credit modelling using statistic tool such as SAS, SQL analytical tools, SPSS.
ABOUT THE COMPANY
In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.
By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.
Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.
