Manager, Complex Account Team - Client Retention & Negotiated Offers (IC)

Your Opportunity

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location.

Manager, Complex Account Team - Client Retention & Negotiated Offers (CRNO)  

Client Retention & Negotiated Offers (CRNO) is a specialized business unit within Schwab Investor Services/Client Experience that administers the firm’s Negotiated Pricing Policy.  The team serves as a centralized resource and point of escalation in providing objective, consistent and equitable pricing solutions for Schwab high-value, price-sensitive clients through the collection, analysis, and interpretation of client financial and behavioral data.

The CRNO Manager partners with many groups such as, Branch, CS&S, and Managed Investing Representatives, Trader Acquisition, Investor Development, Managers and above to discuss discounts, offer negotiated pricing solutions or other alternatives for clients, conduct profitability analysis, and escalate requests for exception approval while balancing client, firm, and shareholder needs.  The CRNO Manager is expected to provide timely, value-oriented responses, requiring a passion for client service, positive energy, problem solving skills and a “willing to help” attitude.  This position requires a unique blend of strong interpersonal and communication skills, industry and competitor knowledge, and the ability to research complex issues with internal partners.  Interaction is by e-mail, phone, and in person in supporting the field with information about pricing, the competition and procedures related to Schwab’s Negotiated Pricing Policy.  The position also provides a unique opportunity to interact with all levels of the organization (from Representatives to senior leadership).  Accordingly, the role requires a high degree of business acumen and judgement, self-motivation, organizational skills, and capacity to meet response time targets with internal partners and clients. 

Responsibilities include:

• Responsible for all Schwab IS negotiated pricing reviews and approvals including but not limited to commissions, margin, managed investing asset-based fees, cash awards/promotions, Alternative Investment custody and money fund exceptions – in addition to providing pricing support for specialized groups such as Designated Brokerage Services and Stock Plan Services
• Gathering and interpreting client financial and behavioral data and conducting profitability analysis using the Relationship Pricing Model and Profit/Loss queries to make appropriate pricing decisions
• Frequent interaction with VP’s and above around pricing decisions (including CRNO escalation to VP+ for further review, as well as leadership reaching out to CRNO for guidance on various situations)
• Partnering with numerous departments within Schwab including but not limited to CS&S, Managed Investing, Branch network, Finance, Client Acquisition, Marketing, Schwab Bank, Escalation teams and Operations, to provide insight or expertise on pricing initiatives
• Construction of complex one-off pricing packages for high-value clients and prospects
• Educating and providing guidance to field partners around client profitability, the competition and how to position offers to clients
• Acting as the point of escalation for any request that exceeds field empowerment guidelines

What you have

To ensure that we have fulfilled our promise of "challenging the status quo," this role has specific qualifications that successful candidates should have.

Required Qualifications: 

• Series 7 & 63 required
• 3+ years’ experience in brokerage or financial services industry required
• Bachelor’s degree highly preferred
• Strong working knowledge of Schwab internal systems, tools, and resources; including the Relationship Pricing Model, Client Profit/Loss model, Flex Commission System, Centralized Billing Platform, Client Central, Knowledge Center and Legacy systems
• Strong organizational skills with the ability to prioritize and handle multiple competing priorities within established timelines
• Highly developed problem-solving skills, such as the ability to identify the root cause of an issue (not explicitly stated) quickly and accurately, efficiently research a problem, and quickly learn and apply new information
• Effective time management skills and a demonstrated ability to work in a high volume, fast paced environment
• Ability to effectively communicate with all levels of the organization (including legal, compliance and senior leadership) to resolve issues, gain needed information, and influence outcomes
• Highly developed negotiation, critical thinking, and decision-making skills to apply sound judgment solutions to more complex problems
• Proven effectiveness in building, leveraging, and strengthening relationship with partners in different areas and with varying responsibilities, providing outstanding service
• Positive attitude of service and initiative in improving overall skills and abilities to meet departmental, organizational, and company goals
• Strong business acumen and understanding of relevant policies/procedures with ability to analyze associated facts to make balanced decisions in the best interest of clients, shareholders, and the firm

Preferred Qualifications:

• Familiarity with financial modeling, profitability analysis, negotiation, pricing systems and the competition is a plus

In addition to the salary range, this role is also eligible for bonus or incentive opportunities.