Manager, Risk Analytics/Modeling

Your Opportunity

Schwab remains committed to providing increased visibility to career growth opportunities and job requirements. This posting announcement is part of increased transparency and while all qualified applicants will be reviewed and considered, this organization has a preferred candidate identified for this role. 

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(s).

Model Risk Oversightis a strategic function within the broader Corporate Risk Management umbrellatoprovide oversight overa broad spectrum of modelsthatcreate innovative products for ourclients, andprudently manage our financial risk using sophisticated quantitative approaches. The Model Risk Oversightteam plays a key role inidentifying, reviewing, andmonitoringall the models at the company.

We arehiringaquantitative analystand developertoconduct model validations,build in-house“challenger”models,and makeadditionalcontributions tothe Model Risk Oversightteam.Theanalystwill needaquantitative aptitude, strong developer skills,and a goodunderstanding ofhow financial models are used in business contextto effectively challenge the choice of methods and assumptions.Additionally, the role requiresbuildinganintegrated Asset–Liability Management (ALM) platform tochallenge champion model approachesand addresslong‑standing fragmentation across ALMvalidationprocesses.Prior experiencewithAsset Liability Management(ALM),LiquidityRisk,Deposit Modeling,andMarketRisk(Termstructure,prepayment,risk metrics of fixed income, derivative hedging, etc.),isdesirable. 

The job responsibilities will include, but not be limited to:

• Performingmodel validationsfollowing guidelines based on SR 11-7, to include an assessment ofmodel usage,documentation, conceptual soundness,data integrity, the control environment,and the software environment

• Building in-house models to challenge the accuracy and methodologies of high-risk champion models used in ALM

• Presentingwork through formalmodelvalidation reports, as well as throughverbalpresentations to model owners,seniormanagementand oversight agencies

• Collaborating effectively with model owners toidentifyand drive practical resolutions for gaps in model risk management

• Evaluating model performancemonitoringreports and conducting model annual reviews

Thiswillbean individual contributor role.

What you have

RequiredQualifications:

• Advanced degree ina quantitative discipline(economics, finance, statistics, mathematics, physics, engineering)

• 2+years ofworkexperience in quantitative modelingorALM/Interest Rate Risk

• Advanced skillswithPythonand object-oriented programming techniques

• Strong oral and written communication skills

PreferredQualifications:

• Experience with 3rd party ALM applications, such asPolypaths(preferable),Bancwareor QRM

• Experience withdesigning system architectures and implementing technology platforms

• Experience in banking industry with an emphasis on deposit decay modeling, ALM (net interest income and balance sheet forecast), fixed income analytics,modelingor market risk

• Knowledge of model governance processes and regulatory requirements for large US banks

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