Trading Fraud Error Control (TFAC) - Trading Ops

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.

Schwab Trade Fraud and Error Control team (TFAC) operates under the Schwab Trading Operations organization and is an essential protection element in reducing the firm’s risk exposure as well as safeguarding overall brand name reputation.  The primary responsibility for the TFAC team is to ensure daily and monthly monitoring and reconciliation of error accounts, trade error resolution, internal account risks reporting, resolution of fraud cases with trading activity all in the effort to protect the clients and mitigate risk for the firm.  The team also resolves and tracks fraud trade errors logged for the firm and ensures that fraud events are researched (to facilitate possible implementation of detection tools) and ensure all trading fraud is documented, tracked and reviewed for irregular trends.    Team members work closely with numerous teams including Compliance, Legal, Financial Crimes, Advisor Services and various Trade Support groups to accomplish these goals.

What you’ll do:

As a Trading Operations Specialist, you will be part of Schwab’s Trading Operations Department/Trading Operations Fraud & Control (TFAC) team.  Primary tasks for a TFAC specialist include:

• Trade Error Resolution – filing, resolution & documentation of all trading fraud events
• Reconciliation of fraudulent trade events including tracking trade details, account elements and market conditions of the fraud event, covering any exposed positions, compiling statistics to be used in fraud detection research, and reconciling error account activity.
• Monitoring and reconciling of internal Accounts to ensure proper reporting
• Supervisory Reporting Reviews
• Supporting research for inquiries received by Compliance. TFAC rep reviews Trading Compliance inquiries, assessing flagged trading behavior to determine if further action is warranted.
• Support the identification and implementation of process and system improvements and promote effective controls
• Work closely with business partners to communicate out changes instituted by TFAC as well as assess impact of potential activities and system changes conducted outside Trading Operations

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

• 5+ years of experience in the financial services industry. 
• 2+ years of experience in equity and options trading in a support type role.
• Comprehensive knowledge of industry regulations, regulatory bodies, utilities and exchanges.
• Strong ability to multi-task, process quickly and a desire to work in a team environment.
• Must have a good understanding of the various products that Schwab and its customers conduct business in. 
• Excellent written and verbal communication skills.
• Series 7, 63 require.
• Series 9/10, 57 preferred.
• Excellent computer skills and knowledge of Microsoft Office.
• Proven superior analytical skills and attention to detail.
• Self-motivated team player with ability to work independently with minimal guidance/training.

You demonstrate these behaviors:

• Familiarity with regulatory reporting bodies (FINRA, NASDAQ, SEC).
• Strong analytical skills with ability to research complex regulatory submissions/inquiries.
• Excellent risk awareness and attention to details to accurately identify potential impact to the firm (either regulatory risk or unresolved risk due to fraud activity).
• Strong verbal and written communication skills. Team player with ability to work closely and strengthen relationships with business partners.
• Flexible and fast learner with a drive to continuously improve processes.

What you’ll get:

• Comprehensive Compensation and Benefits package.
• Financial Health: 401k Match, Employee Stock Purchase Plan, Employee Discounts, Personalized advice, Brokerage discounts.
• Work/Life Balance: Sabbatical, Paid Parental Leave, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer, Employee Matching Gifts Program.
• Everyday Wellness: Health and Lifestyle Wellness Rewards, Onsite Fitness Classes, Healthy Food Choices, Wellness Champions.
• Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships.
• Not just a job, but a career, with an opportunity to do the best work of your life.