Manager, Margin Services

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).

The Manager, Margin Services performs the most complex functions of the Margin Risk team. Senior Specialists must manage 1) the identification, analysis, and execution against risk posed to the firm by its highest leveraged product offerings and; 2) industry leading support of the firm’s most actively trading, high revenue clients.  Key tasks include managing margin and complex derivative risk during all trading hours through monitoring client account activity, risk management report creation and analysis, timely client contact, and exception resolution.  Also included is ensuring compliance with all regulatory, firm, and industry guidelines.

The position requires a high degree of individual responsibility to mitigate firm and customer risk by upholding firm and regulatory rules during regular market hours, overnight, and holiday sessions, where applicable.  The position requires intimate knowledge of multiple systems, the ability to execute complex orders in all market environments, and provide quality customer service under the pressure of any market scenario. Leadership, multitasking, and strong communication skills are also required to educate, effectively manage client risk situations, and drive the product offerings.

What you are good at:

• Utilize internal systems and analyze reports to identify and address any type of account risk presented to the firm
• Effectively communicate and educate clients in order to work through and resolve outstanding risk issues
• Determine proper course of action and execute when necessary to prevent firm losses. This includes, but is not limited to, exposure from position risk, intraday price movement, liquidity concerns, various product expirations, dividends, corporate actions
• Exercise sound judgment and precision when executing against client risk to avoid potential arbitration and magnification of monetary losses
• Issue, enforce, and resolve regulatory and house margin calls; day trading violations; trading flags; account restrictions; and exposure limitations
• Manage option expiration for all products and cycles
• Understand and explain industry (TIMS, SPAN) and proprietary  risk models (TDA Portfolio Margin, internal stress tests)
• Communicate with clients, and take action when necessary, to ensure compliance with firm exposure, position, and capital requirements
• Detailed knowledge of, and ability to explain, regulatory and firm rules in any applicable scenario
• Provide exceptional customer support and risk consultation
• Inbound and outbound client contact through all communication channels
• Educate clients on expectations and responsibilities relating to margin calls, trading risks, product expirations, risk based margin, as well as regulatory and house rules
• Develop, maintain, and manage relationships with the firm’s high risk clients
• Serve as a complete resource for internal associate inquiries and education
• Resolve escalations relating to complex risk and trading issues
• Assist in the development of any new reporting necessary to identify changing risks and new types of market exposure
• Work with associated departments to optimize processes and models for account risk surveillance and mitigation
• Provide input for systems development pertaining to risk or product specific features.
• Manage front-end product offering to futures clientele
• Product suitability

What you have

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

Required Qualifications:

• Series 7, 63 required with registration in all 50 states
• Over 5 years tenure on the Margin Risk team
• 4 year college degree, preferred in Finance, Economics, Business
• 5 years of trading experience preferred or related market experience equivalent.

Preferred Qualifications: 

• 5 years of securities industry knowledge preferred
• Possess a detailed understanding and knowledge of Equities, all offered derivative products, futures, futures options, and foreign exchange as well as specific expertise in RegT, Portfolio Margin, and SPAN Margin.
• Possess advanced level of knowledge of product specifications, trading and expiration cycles, deliveries, risk management, risk based and option pricing models, and regulations
• High degree of multitasking required in order to manage intricate product and risk situations simultaneously with client interactions
• Ability to discuss strategies to assist clients in making portfolio level decisions
• Extensive experience in dealing with various market conditions and scenarios
• Able to quickly compute mathematical transactions with a high degree of accuracy
• Proven skills in relationship building, client focus, decision making, and problem solving
• Outstanding communication and analytical skills
• Excel in a team environment
• Series 9/10
• Series 3
• Experience working MRT, Journals, SIIRA and other core workflows

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