Senior Economic Capital Modeling Specialist

Job Title: Senior Economic Capital Modeling Specialist

Location: UAE (Remote)

Employment Type: Full-Time

Work Arrangement: Fully Remote

Level: Senior

About Us

We are seeking a highly analytical and technically proficient Senior Economic Capital Modeling Specialist to develop, maintain, and enhance economic capital models used to assess enterprise-wide risk exposure, capital adequacy, and financial resilience. This role is suited to an experienced risk modeling professional with strong quantitative expertise and a solid understanding of financial risk, capital allocation, and stress testing methodologies.

The successful candidate will collaborate with enterprise risk management, actuarial, finance, treasury, and regulatory reporting teams to quantify material risks, evaluate capital requirements, and support strategic decision-making through robust, transparent, and well-governed economic capital models.

Key Responsibilities

• Economic Capital Modeling: Design, develop, validate, and maintain economic capital models that quantify the capital required to withstand unexpected losses across relevant risk categories.
• Risk Quantification: Assess credit risk, market risk, operational risk, insurance risk, liquidity-related exposures, and other material risks according to the organization's business profile.
• Model Methodology: Apply appropriate statistical techniques, probability distributions, loss models, correlation structures, and risk aggregation methodologies to estimate capital requirements.
• Capital Aggregation: Develop methodologies for aggregating risk exposures across business units, portfolios, legal entities, and risk categories while accounting for diversification benefits and concentration effects.
• Scenario Analysis: Conduct stress testing, sensitivity analysis, reverse stress testing, and adverse scenario assessments to evaluate capital resilience under severe but plausible conditions.
• Model Calibration: Calibrate key assumptions, parameters, risk factors, confidence levels, and time horizons using historical data, expert judgment, and forward-looking risk assessments.
• Data Analysis: Assess data quality, completeness, consistency, and suitability for modeling purposes, working with data and technology teams to resolve material data limitations.
• Capital Allocation: Support the allocation of economic capital to business units, products, portfolios, and risk-taking activities to improve risk-adjusted performance measurement.
• Risk-Adjusted Performance: Provide analytical support for measures such as risk-adjusted return on capital (RAROC), economic profit, and capital efficiency assessments.
• Model Validation: Coordinate independent model validation activities, back-testing, benchmarking, sensitivity testing, and documentation of model limitations.
• Model Governance: Maintain comprehensive model documentation, assumptions registers, validation evidence, change logs, and controls in accordance with internal governance standards.
• Regulatory and Industry Alignment: Support assessments of relevant UAE regulatory expectations, Basel capital frameworks where applicable, and other recognized risk management standards.
• Management Reporting: Prepare clear and concise reports explaining capital estimates, key risk drivers, diversification effects, sensitivities, and emerging risk concentrations.
• Cross-Functional Collaboration: Work with finance, actuarial, treasury, credit risk, market risk, and enterprise risk teams to reconcile model outputs and support consistent risk measurement.
• Continuous Improvement: Identify opportunities to improve model accuracy, computational efficiency, scenario coverage, data integration, and reporting automation.
• Technical Leadership: Provide technical guidance to junior analysts and contribute to the development of modeling standards, analytical methodologies, and best practices.

Qualifications and Experience

• Bachelor's or master's degree in Mathematics, Statistics, Economics, Finance, Actuarial Science, Quantitative Finance, Financial Engineering, or a related discipline.
• At least 5–8 years of relevant experience in economic capital modeling, quantitative risk management, enterprise risk modeling, capital adequacy, or financial risk analytics.
• Strong understanding of economic capital frameworks, risk aggregation, diversification effects, capital allocation, and risk-adjusted performance measurement.
• Practical experience modeling one or more major risk categories, such as credit risk, market risk, operational risk, or insurance risk.
• Knowledge of probability theory, statistical modeling, Monte Carlo simulation, loss distribution approaches, copulas, and other relevant quantitative techniques.
• Familiarity with stress testing, scenario analysis, model calibration, sensitivity analysis, and model validation processes.
• Understanding of Basel capital requirements and broader regulatory capital concepts is desirable; experience in insurance economic capital or Solvency II frameworks is an advantage where relevant.
• Proficiency in Python, R, SQL, MATLAB, SAS, or comparable analytical tools.
• Experience working with large datasets, financial risk systems, model development environments, and automated reporting solutions.
• Strong understanding of model risk management, data governance, documentation standards, and internal control requirements.
• Ability to communicate complex quantitative findings clearly to technical teams, senior management, and non-technical stakeholders.
• Strong analytical judgment, attention to detail, problem-solving skills, and the ability to manage multiple modeling initiatives.
• Relevant professional qualifications, such as CFA, FRM, PRM, or actuarial credentials, are an advantage.

Key Performance Indicators (KPIs)

Performance will be assessed against agreed technical, operational, and risk management objectives, including:

• Model Accuracy and Reliability: Consistency and robustness of economic capital estimates against validation results, benchmarks, and relevant observed outcomes.
• Model Delivery Timeliness: Completion of model development, recalibration, reporting, and enhancement activities within agreed deadlines.
• Validation Findings: Number, severity, and timely remediation of material model validation findings.
• Data Quality: Accuracy, completeness, and traceability of data used in capital calculations.
• Stress Testing Effectiveness: Quality, coverage, and interpretability of stress scenarios and sensitivity analyses.
• Capital Reporting Accuracy: Reliability and consistency of capital estimates, risk contributions, and management reports.
• Model Governance Compliance: Completeness of model documentation, approval records, assumption reviews, and change controls.
• Computational Efficiency: Improvements in model runtime, processing stability, automation, and analytical workflow efficiency.
• Risk Insight Quality: Usefulness of model outputs in identifying risk concentrations, diversification effects, and emerging capital pressures.
• Stakeholder Support: Effectiveness of collaboration with risk, finance, actuarial, treasury, and senior management teams.

What We Offer

• Competitive salary commensurate with experience and qualifications.
• Fully remote working arrangement based in the UAE.
• Opportunity to work on sophisticated quantitative risk and capital modeling initiatives.
• Exposure to enterprise-wide risk management, capital planning, stress testing, and strategic decision support.
• Professional development opportunities in quantitative finance, risk analytics, and model governance.
• A collaborative environment that values analytical rigor, innovation, accountability, and continuous improvement.

How to Apply

Interested candidates are invited to submit an updated CV highlighting their experience in economic capital modeling, quantitative risk analysis, capital allocation, stress testing, and model validation.

Applicants are encouraged to include examples of modeling projects, methodological improvements, automation initiatives, or measurable contributions to capital risk management.

Email Subject Line: Application – Senior Economic Capital Modeling Specialist (UAE Remote)

• We welcome applications from qualified professionals who combine strong quantitative expertise with sound risk judgment and a commitment to reliable, transparent, and well-governed capital modeling.