Title: Head of Model Risk ManagementLocation: Riyadh, Saudi Arabia
About the ClientOur client, a leading financial institution in Saudi Arabia, is seeking a Head of Model Risk Management to strengthen its model risk management and governance framework across the bank.
Key Responsibilities• Lead the Model Risk Management function, providing oversight, guidance, and challenge across all businesses and functions.• Set model risk policies and standards, monitor regulatory developments, and ensure model risk is managed within approved tolerance levels.• Responsible for model development, use, and validation, including providing expert advice and challenge.• Oversee independent model validation and validation processes, including managing third-party engagements.• Provide oversight of Model Risk Management infrastructure, including systems, reporting, and technology enhancements.• Support approval of dispensations from Model Risk Policy and standards, including regulatory interpretations.• Monitor compliance with model risk policies and embed a strong risk management culture across all lines of business.• Contribute to Board-level reporting and management of key model risk metrics.
Key Requirements• Significant experience in model risk management, governance, and model development.• Proven ability to build strong relationships with senior stakeholders and regulators, executing tasks with minimal conflict.• Expertise in providing advice, robust challenge, and oversight across model risk activities.• Strong knowledge of risk management policies, control frameworks, and regulatory compliance.• Experience managing risks and controls, including embedding risk taxonomies and control libraries.
