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Manager - Risk Modelling & Stress Testing - Job Opportunity at Dubai Islamic Bank

Dubai, United Arab Emirates
Full-time
Senior
Posted: January 25, 2025
On-site
AED 35,000-45,000 per month (USD 114,000-147,000 annually)

Benefits

Islamic banking work environment with exposure to Shariah-compliant finance
Career development in specialized risk modeling
Advanced technical environment with focus on machine learning and automation
Professional growth in regulatory compliance and banking sector

Key Responsibilities

Lead development and automation of risk modeling processes with focus on IFRS9 compliance
Design and implement advanced machine learning models including XGBoost and gradient boosting methods
Oversee capital management and stress testing frameworks
Manage model governance and validation processes
Direct regulatory compliance and audit preparation
Develop and maintain comprehensive risk dashboards and reporting systems

Requirements

Education

Bachelor's/Master's Degree in Applied Math, Applied Statistics, Actuarial Sciences, Economics, Computer Science

Experience

6-8 years of work experience in model development or model validation in the Banking industry

Required Skills

IFRS9 model development Machine learning (XGBoost, gradient boosting) Data automation and processing Risk modeling Regulatory compliance Policy development Quantitative analysis Project coordination
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Industry Trends

Islamic banking sector is experiencing rapid digital transformation requiring sophisticated risk modeling capabilities Increasing regulatory scrutiny on IFRS9 implementation is driving demand for specialized modeling expertise Integration of machine learning in risk management is becoming a critical differentiator in banking sector

Role Significance

Typically leads a team of 4-6 quantitative analysts and coordinates with multiple stakeholders across risk, finance, and compliance departments
Senior management position with direct impact on bank's risk management strategy and regulatory compliance

Key Projects

IFRS9 implementation and optimization Regulatory stress testing framework development Risk model automation and enhancement Capital adequacy assessment process (ICAAP)

Success Factors

Deep understanding of Islamic banking principles and risk management Strong technical expertise in advanced machine learning and statistical modeling Ability to bridge technical modeling with business and regulatory requirements Excellence in stakeholder management across multiple departments

Market Demand

High demand role due to increasing regulatory requirements and limited pool of candidates with both Islamic banking and advanced modeling expertise

Important Skills

Critical Skills

IFRS9 modeling expertise due to regulatory compliance requirements Machine learning and automation capabilities for process optimization Stakeholder management skills for cross-functional coordination

Beneficial Skills

Knowledge of multiple programming languages Experience with regulatory reporting Understanding of Shariah-compliant financial products

Unique Aspects

Rare combination of advanced quantitative modeling with Islamic banking principles
Focus on automation and machine learning in risk management
Comprehensive model governance responsibility

Career Growth

2-4 years in role before progression to higher leadership positions

Potential Next Roles

Head of Risk Analytics Chief Risk Officer Director of Quantitative Analysis Head of Model Governance

Company Overview

Dubai Islamic Bank

Dubai Islamic Bank is the largest Islamic bank in UAE and a pioneer in Islamic banking globally

Leading position in Islamic banking sector with strong regional presence and international recognition
Significant presence in UAE with expanding international operations
Professional environment combining Islamic banking principles with modern banking practices and technology
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