Specialist, Client Account Operations

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 Managed and Investing Operations (MIO) team performs a variety of functions and services for both Advisor Services and Investor Services clients enrolled in Schwab’s Managed Account products and the Schwab Wealth Advisory offer.  

Within MIO, the Managed Accounts Billing and Support Team plays an integral role in providing support to Schwab internal partners with Advised Billing questions or escalations.  Our internal partners include the Branch network, Schwab Wealth Advisory, Portfolio Solutions Group, Offer Management and more.

Some of the functions of this team include advised fee adjustments, fee calculations, SWA enrollments, and the monthly payout of management fees to our third party and affiliate money managers.  In addition to processing daily validation reports, the team also responds to escalations, service issues and operational questions received via email. The team is comprised of members located in Phoenix, Westlake, and Orlando. 

In this role, you will be asked to switch gears throughout the day to assist with meeting critical cut-off times or high volume spikes.  Ideal candidate will need to be comfortable with internal client interaction via IM and Email and network to research and resolve operational issues.  

Functions can vary but key responsibilities include:

• Provide Billing support for Schwab Wealth Advisory and Managed accounts
• Processing fee adjustments via Resonance and Legacy systems
• Using functions within Excel to perform fee recalculations, including ability to modify formulas within Excel
• Comparing output from multiple sources, identifying, and researching discrepancies in information and taking appropriate action to resolve.
• Enrolling and un-enrolling accounts in the Schwab Wealth Advisory offer
• Learning how tiered pricing is used in calculating fees and be able to effectively communicate the methodology to business partners
• Having a general understanding of the managed account process and how it relates to Billing and Support functions.
• Completing tasks independently and collaborating with team members, including cross-site partners, to resolve issues.  
• Understanding general trading functions and the different security types. 
• Meeting time critical deadlines in a fast-paced environment.
• Maintaining flexibility in schedule to support cyclical volume increases.

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.

The ideal candidate will possess demonstrated brokerage, banking back office, or operational experience, coupled with customer service skills and experience. Cross-functional operational knowledge or experience in managed accounts is strongly desired. A working knowledge of the Schwab Wealth Advisory and Managed Account business at Schwab and the Schwab systems are a plus. Must possess effective problem resolution, relationship management skills, and a strong sense of teamwork. Series 7, 63 and 9/10 preferred.

Required Qualifications:

• 3-5 years Managed Account processing Experience

Preferred Qualifications: 

• Excellent analytical skills; superior attention to detail; strong sense of risk awareness
• Strong organizational and follow-up skills along with the ability to prioritize and coordinate multiple complex processes/projects.
• Accounting and reconciliation experience (3-5 years preferred).
• Solid working knowledge of Microsoft Excel as well as Schwab specific applications.     
• Effective problem resolution and relationship management skills and a strong sense of teamwork.
• Excellent verbal and written communication skills.

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