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Established in 1975, Dubai Islamic Bank is the largest Islamic bank in the UAE by assets and a public joint-stock company listed on the Dubai Financial Market. Spearheading the evolution of the global Islamic finance industry, DIB is also the world’s first full-service Islamic bank and the second-largest Islamic bank in the world. With Group assets over USD 80bln and a market capitalization of more than USD 10bln, the group operates with a workforce of more than 10,000 employees and around 500 branches in its vast global network across the Middle East, Asia and Africa. Serving over 5 million customers across the Group, DIB offers an increasing range of innovative Shariah-compliant products and services to retail, corporate and institutional clients.
In addition to being the first and largest Islamic bank in the UAE, DIB has a significant international presence as a torchbearer in promoting Shariah-compliant financial services across several markets worldwide. The bank has established DIB Pakistan Limited, a wholly-owned subsidiary that is the first Islamic bank in Pakistan to offer Priority & Platinum Banking, as well as the most extensive and innovative portfolio of Alternate Distribution Channels. The launch of Panin Dubai Syariah Bank in Indonesia early in 2017 marks DIB’s first foray in the Far East, the bank owns over 25% stake in the Indonesian bank. Additionally, in May 2017, Dubai Islamic Bank PJSC was given the license by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. DIB has been designated as D-SIB (Domestic Systemically Important Bank) in 2018 in UAE. In early 2020, DIB completed the acquisition of Noor Bank, which solidifies its position as a leading bank in the global Islamic finance industry. In 2021, DIB increased its foreign ownership limit to 40% reflecting the increasing confidence of global investors towards the bank.
The Bank’s ultimate goal is to make Islamic finance the norm, rather than an alternative to conventional banking worldwide. DIB has won a range of accolades that are testament to these efforts across diversified areas, including retail, corporate and investment banking, as well as CSR and consultancy services. DIB has been named the Best Islamic Bank in various prestigious ceremonies and recognized for its outstanding performance amongst the world’s Islamic Banks, marking it a clear indication of the bank’s leadership position in the Islamic finance sector.
For more information, please visit us at www.dib.ae
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Job Purpose Primary responsibility is for the development and implementation of Model Risk Management governance and the validation of AI/ML and business models at Dubai Islamic Bank in line with internal policies and regulatory requirements . Key Responsibilities Responsible to conduct independent robust and comprehensive qualitative and quantitative validation of AI/ML models in Risk, Customer facing applications, marketing and different lines of Business areas of the Bank, in accordance with the Bank Model Validation Guidelines and the Model Governance Framework and ensuring compliance with regulatory requirements, Responsible AI principles and governance standards. Perform data due diligence, check data lineage and data preparation required for the validation of models. Evaluate theoretical and statistical soundness of AI/ML methodologies (e.g., gradient boosting, neural networks, NLP, LLMs) and review feature selection, transformations, and use of alternative or non-traditional data for regulatory appropriateness. Perform independent testing of relevant aspects such as predictive performance, stability, robustness, overfitting, data leakage, stress testing, sensitivity to economic conditions and back testing. Assess explainability techniques (e.g., SHAP, partial dependence, surrogate models) for regulatory and customer-facing use and be able to explain the model to relevant stakeholders. Ensure models are validated within the pre-defined validation frequency. Discuss validation results and validation findings with the different stakeholders, reaching agreements on the remediation process and keeping track of the timeliness and progress of such actions. Ensure accuracy and completeness of archived validation information (data, codes, working files and related documentation) to allow independent third-party review of the validation work performed Provide technical review of the quantitative solutions proposed by the model developer to the model owners in a timely manner. Coordinate with other quantitative analysts within the Bank to ensure that models and solutions are consistent and in-line with the Bank practices. Support on the development and maintenance of the Model Risk Management framework covering the Model Governance Framework and related policies, including risk appetite, tiering and other risk policies and other processes regarding to models, in line with applicable regulations and industry best practices. Support on the development and maintenance of the Model Validation Guidelines related to advanced analytics and Gen AI and support the team in validation of other types of risk models as well. Ensure that strict governance is followed for adoption and ongoing use of models across the bank – including compliance with the approved policies, procedures, SLAs and regulatory requirements. Ensure that exceptions, if any, to the process are escalated promptly. Develop and maintain a Model Inventory and ensure the inventory is complete, accurate, and consistent with the Model Governance Framework. Maintain the Validation Findings Tracker, covering model related findings coming from internal/external model validation, internal/external audit exercises and from the CBUAE. Train, develop and upgrade technical skills by identifying self-learning needs to stay up-to-date with the best market practices.
Job Purpose The position is responsible for assisting in activities related to Fraud Risk Management/Prevention and handling of related matters. Key Responsibilities General Fraud Management Ensure Effective Fraud Risk Management. Fraud Awareness including class room trainings, E-learnings and onsite. Support Fraud Risk Monitoring in responding to fraud cases in a timely manner including initial review, fraud loss preventions, etc. Liaise with legal, audit and other departments in handling fraud cases Analyze and suggest controls against the latest industry fraud trends/threats Engage with other departments to compact fraud and provide solutions to enhance fraud preventions. Build a good industry relationships with in banking, fraud management suppliers and regulators. Manage the fraud management team daily activities and KPIs Fraud Prevention Management Analyze and investigate process change and improvements to support protecting the bank from fraud. Identify requirements of tools and equipment to cop-up with latest industry fraud trends. Manage and lead in the implementation and enhancement of Enterprise Fraud Risk Management System/tool (EFRM) in the bank. Investigate and analyze the enhancement of the EFRM System functions to optimize the use of the system. Manage the daily EFRM system activities. Review and analyze the trends in the alerts generated by the EFRM system. Analyze and create new fraud prevention scenarios. Produce required reporting and analysis for the system and bank’s fraud prevention performance. Maintain and report on the key metrics of measuring fraud prevention.
Leading the Product Control oversight ensuring accuracy in financial reporting, robust control frameworks, and compliance with complex regulatory standards (e.g., Basel III, IFRS). · Lead the implementation, maintenance, and optimization of the Treasury Management System (TMS) (e.g., Murex, Open Link, FIS Quantum). · Define business requirements for system enhancements and manage system integration with general ledger and trading platforms. · Oversee the independent valuation and verification of complex derivatives (FX Forwards, Cross-Currency Swaps, Interest Rate Swaps/IRS). · Drive the computation, monitoring, and reporting of Credit Valuation Adjustment (CVA) and Debt Valuation Adjustment (DVA) methodologies and results. · Manage the daily P&L attribution and commentary process. · Investigate significant variances between Front Office reported P&L and Middle Office calculated P&L, ensuring clear communication of drivers to senior management. · Ensure strict adherence to IFRS 9,13, and 15 standards regarding derivative accounting and fair value measurement. · Lead the monitoring and reporting of regulatory metrics required under Basel III (LCR, NSFR, large exposures). · Direct the reconciliation of all trading positions, cash flows, and custody positions daily. · Resolve escalated breaks and ensure proper confirmation and control over all custodial relationships and holdings. · Mentor and establish team priorities, develop robust Standard Operating Procedures (SOPs), and serve as the primary point of contact for internal/external auditors and regulatory bodies. · All the above accountabilities includes but not limited to any additional/new tasks or responsibilities assigned by the line Manager.
Responsible for the integrity of the bank's general ledger, comprehensive product control across all business lines, and oversight of key control functions including the Treasury Middle Office. This position ensures accurate financial reporting, robust balance sheet substantiation, and effective management of the core banking system's foundational accounting parameters. · Assume ultimate ownership of the bank's General Ledger integrity. Drive the monitoring of GL ownership across all departments, enforce strict reconciliation standards, and ensure all accounts are substantiated in a timely manner. · Own the bank’s Chart of Accounts (COA) structure within all core and support systems. Control the maintenance and evolution of key parameters in the core banking system, including currency configurations, product definitions, and accounting flow logic. · Lead the end-to-end product control function (Credit, Investments, properties, derivatives), · Ensure independent verification and reporting of P&L, balance sheets, and valuations for all banking products (retail, commercial, and treasury). · Provide strategic direction and ensure strong control over all treasury activities and derivative valuations (CVA, DVA, etc.). · Manage the accounting and financial reporting processes for all products, · Ensure compliance with relevant accounting standards (IFRS) and regulatory requirements. Oversee month-end and year-end closing processes. · Establish and maintain a strong internal control environment over financial reporting. Serve as a key point of contact for internal/external auditors and regulatory inspectors regarding accounting practices, system configurations, and product valuations. · Collaborate with the Head of MIS, BPA, Head of Financial Reporting, Regulatory Reporting, business unit heads, IT, Operations, and Risk departments to ensure alignment on accounting treatments, system changes, and control enhancements. · Manage the daily P&L attribution and commentary process. Investigate significant variances between Front Office reported P&L and Middle Office calculated P&L, ensuring clear communication of drivers to senior management. · Mentor the Assistant Manager, establish team priorities, develop robust Standard Operating Procedures (SOPs), and serve as the primary point of contact for internal/external auditors and regulatory bodies. All the above accountabilities include but not limited to any additional/new tasks or responsibilities assigned by the line Manager.
Support in the daily execution of middle office controls, with a strong focus on data accuracy, reconciliation, and routine reporting. Assist in the daily operation and maintenance of the Treasury Management System (TMS). Support system testing (UAT) for upgrades and enhancements and ensure data integrity within the system architecture. Perform initial independent valuations of vanilla derivatives (FX Forwards, Swaps, IRS) using market data inputs. Gather necessary inputs and run models for CVA/DVA computation under the Manager’s guidance. Execute daily P&L calculation and comparison routines. Analyze variance drivers at the trade level and escalate significant issues to the Manager promptly. Prepare data workpapers for IFRS compliance disclosures. Compile daily/weekly reports necessary for Basel III monitoring (LCR/NSFR inputs). Execute daily reconciliations of Front Office positions against Back Office and Custody records. Monitor custody positions daily, investigate reconciliation breaks, and ensure timely resolution. Maintain and update all Standard Operating Procedures (SOPs) for daily tasks. Ensure all activities are properly documented for audit trails. the line Manager. All the above accountabilities include but are not limited to any additional/new tasks or responsibilities the line Manager assigns.
Key Responsibilities: • To ensure that all Deals / Transactions are within the approved limits. • To ensure accuracy and completeness of support documents as per SOP. • To Check, Verify and Sign all vouchers requisitions etc to execute the transactions. • To ensure accurate processing of Transactions as per agreed SLA and place controls for tracking processing errors as well as rectifications done within the specified parameters. • To ensure correct MIS is being prepared and provided to Management on an agreed frequency and statuary reporting adhered to as required. • To monitor proper and complete filing and updating of all records at all times enabling easy retrievals from the Archives. • To maintain accuracy and completeness of Month End Reconciliation and Balancing of all the related Suspense / GL / Nostro / Vostro Accounts etc., with records duly signed and properly maintained. • To ensure AML / KYC / FRM / ORP checks are performed wherever necessary. • To explore areas that could be automated to improve efficiency and improve response time. • To provide feedback on performance of direct reports to Unit Head and discuss performance improvement. • To ensure business confidentiality of products and processes. To ensure investigation and resolution of complain and improve/place controls to avoid any recurrence.
Job Purpose Support line manager in planning and executing Fraud Investigation assignments in accordance with the Department’s Group Risk Management (GRM) – Operation Risk Management (ORM) Framework and relevant Fraud Investigation Process. Key Responsibilities Assist line manager in preparing a comprehensive Fraud Investigation Assignment Plan, prioritizing and designing the methodology/strategy of fraud investigation assignments based on a risk assessment, and sensitivity of cases and exposure, in an effective and efficient manner. Ensure compliance with the approved policies, procedures, SLAs and regulatory requirements to maintain quality standards and ensure risk mitigation. Conducting investigations into DIB staff misconduct and internal fraud concerning activities and operations activities include but are not limited to; planning investigations, determining investigation objectives, scope, criteria, necessary resources requirement, methodology to be used to accomplish the assignment, manage individual activity assigned and conduct interviews of people under investigation. Makes oral or written communication with management during and at the conclusion of the assignment, discussing observations and recommending corrective action to improve operations. Prepare/Reviews and edits well structured, logical and objective Draft Fraud Investigation Report. Ensuring the findings have the appropriate supporting evidences and recommending proper course of action to be taken. Maintain the inventory of fraud investigation for proper reporting. Ensure all assigned tasks and projects are executed within the approved policies, procedures and SLAs of the department.
Job Purpose To process transactions within the assigned tasks and ensure error free smooth handling of end to endprocessing and to assist the Team Manager for performing with the required controls in daily work andmonitoring risks through MIS. Key Responsibility To ensure thorough checking of all customer transaction received for processing. To check if documents are missing or require clarifications for any modality within the transaction documents. To ensure system entry, swift transmission (if any) & customer advice without any errors and in line with the transaction approval and bank's policy. Correct any variances spotted in daily / weekly recording system, lose control of the system to maintain accurate reconciliation of the accounts. To provide High level of services and prepare the required MIS reports. To liaise with other Units for trouble shooting and managing smooth BAU Ensure delivery and accuracy of transactions processed, receipt of reports and reporting made as per agreed Service Level Agreements. To ensure complete filing and updation of records at all times for easy retrieval from the archives. To ensure business confidentiality of products and processes
Job Purpose To process transactions within the assigned tasks and ensure error free smooth handling of end-to-endprocessing. Key Responsibility To ensure thorough checking of all customer transactions received for processing. To check if documents are missing or require clarifications for any modality within the transaction documents. To ensure system entry & customer advice without any errors and in line with the transaction approval and bank's policy. To provide High level of services and prepare the required MIS reports. Ensure delivery and accuracy of transactions processed, receipt of reports and reporting made as per agreed Service Level Agreements. To ensure complete filing and updating of records at all times for easy retrieval from the archives. Prepare an MIS reports as required to monitor To ensure business confidentiality of products and processes To check the documents and prepare the necessary vouchers.
Job Purpose Manage Regulatory Compliance risk for the organization with a specialization in Financial Crime and Market Conduct Risk. Primary responsibilities include supporting regulatory change management, breaches monitoring, advisory and reporting Key Responsibilities 1. Managing regulatory compliance risk for the organization with a specialization in Financial Crime (Anti-money laundering, Terrorist Financing, Proliferation Financing and Sanctions) and Market Conduct Risk. 2. Managing the regulatory change management procedures including analysis, development of Gap Analysis and Action Plan, coordination and close follow-up with cross-functional teams. 3. Monitoring breaches of existing Regulations and managing corrective Action Plans and closure. 4. Sharing relevant and accurate management reporting for Senior Management and the Board, periodically. 5. Providing advisory to bank-wide stakeholders on regulations in consultation with Head of Regulatory Compliance. 6. Monitoring successful completion of relevant Audit or Regulatory Action items. 7. Complying with the internal policies and procedures. All the above accountabilities include but not limited to any additional/new tasks or responsibilities assigned by the line Manager.