Senior Manager, Risk Analytics/ Modeling (PL)

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.

Model Risk Oversight is a strategic function within the broader Corporate Risk Management umbrella to provide oversight over a broad spectrum of models that create innovative products for our clients and prudently manage our financial risk using sophisticated quantitative approaches. The Model Risk Oversight team plays a key role in identifying, reviewing, and monitoring all the models at the company.

We are hiring a Senior Manager level people leader to lead a team of quantitative analysts who are responsible for conducting model validations and making additional contributions to the Model Risk Oversight team. This Senior Manager will need strong quantitative aptitude and a good understanding of how financial models are used in business context to effectively challenge the choice of methods and assumptions. Prior experience with Asset Liability Management, Capital Stress Testing, or Financial Planning is desirable. The job responsibilities will include, but not be limited to:

• Performing and supervising model validations following guidelines based on SR 26-2, to include an assessment of model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environment;
• Presenting work through formal model validation reports, as well as through presentations to model owners and senior management;
• Explaining and defending the outcomes of model governance activities to other internal review groups and regulatory agencies.
• Collaborating effectively with model owners to identify and drive practical resolutions for gaps in model risk management, representing MRO at business-line working groups.

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 skills and qualifications:

• Advanced degree in quantitative discipline (Statistics, Economics, Finance, Mathematics, Physics, or Engineering)
• 5+ years of work experience with model development, model validation, or related practices
• Advanced skill with one or more analytics tools, such as R, Python, SQL, MATLAB, or VBA

Preferred skills and qualifications:

• PhD degree in quantitative discipline
• Extensive experience in banking, brokerage, or financial services with an emphasis on validating Asset Liability Management models, deposit runoff and balance behavior models, and revenue-generating product balance forecast models
• Profound knowledge of model governance processes and regulatory requirements for large US banks
• Experience leading, developing, or mentoring quantitative professionals and reviewing complex analytical work
• Proficiency with IBM Planning Analytics or a comparable Financial Planning and Analysis platform
• Strong oral and written communication skills, and excellent interpersonal skills
• Proven ability to manage competing priorities, exercise sound judgment, and collaborate effectively across business and risk functions
• CFA and/or FRM and/or CTP certification

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