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The incumbent will manage the Retail organization forecast planning function and provisioning, that includes building and maintain the appropriate forecasting models for CCAR, stress test and any other correlated initiative. The incumbent is expected to liaise and manage interactions with product managers, country finance and regional/global functions. He / she ensure forecast are accurate and escalate any issue in advance. The Forecast and Stress Testing Analyst will work as key part of Retail Credit Risk Team ensuring timely and accurate forecast of Cost of Credit. He/she should ensure that stress testing is implemented across the UAE for all products in line with best practice for the purpose of risk management, compliance with the regulatory framework and meeting enterprise wide stress testing needs. The incumbent should support the ownership and accountability on some of the key elements of the stress testing framework, including, consolidating results, delivering analysis to Senior Management and ensuring that stress testing is meeting the demands of the regulators.
Job Responsibility:
CCAR (Comprehensive Capital Analysis and Review)/Dodd-Frank Stress Test – (A US regulatory mandated Stress test for ascertaining capital adequacy). Perform CCAR forecasting
develop, enhance and maintain all CCAR related documentation
attest quarterly CCAR submission. Ensure all Model Risk Management requests are completed within designated timelines
Forecasting of Loan Loss reserves (Expected Credit Losses) on a quarterly basis inline with regional guidance and applicable model usages
Regulator communications and requests on an adhoc basis to be completed within crunched deadlines
Detailed understanding of the requirements and stages of model development and approval
Knowledge of annual validation for all models
Extend existing models for use in processes like Capital Planning, Business Operating Plan, Quarterly Multi Scenario Forecast
Develop, manage, and maintain accurate portfolio forecasting including weekly, Flash, and Plan reporting
Manage monthly outlook and explain variances vs Plan
Maintain strong governance and control oversight of IFRS9 (Local regulator mandated Expected Credit Loss Reserve) process
Oversight and calculation of IFRS 9 provisioning requirement, enforcement of governance standards and methodology as prescribed by the regulators
Promptly highlight variances in portfolio and product trends towards target and prior months which underline risks or opportunities
Prepare early warning tracking and also highlight changes in portfolio through the portfolio quality review decks. Ensure accurate and timely submission of PSEW (Portfolio Stress Early Warning) and tracking of key stress indicators
Ensure Risk generated data reconcile with Financial Control figure. Ensure monthly reconciliation process is in place
Reconciliation and attestation for Loan Loss Reserve balances
Create and maintain Stress test application and documentation
Work cross-functionally with key business partners to ensure the most accurate forecasting and prediction of portfolio trends in light of change in underlining market dynamics
Requirements:
Basic knowledge of key financial indicators and capital ratios
Excellent oral and written communication skills
Programming: SAS, VB, SQL, MS Access, General Query Tools is a must
Good understanding of banking products, macroeconomics and financial markets
Strong interpersonal, analytical, organizational, project management, problem-solving, presentation and verbal and written communication skills
Ability to priorities effectively and meet tight deadlines when required
Ability to articulate complex ideas in a clear manner
Ability to efficiently communicate with business partners
Ability to work unsupervised
High problem solving orientation
High written and verbal communication (English)
Bachelors/ Masters in Statistics, Economics or mathematical discipline with 5 years of experience