Model Validation Analyst

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 that utilizes a broad spectrum of models to create innovative products for our clients, and to 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 quantitative analyst to conduct model validations and make additional contributions to the Model Risk Oversight team. The analyst will need strong quantitative aptitude and a good understanding of how financial models are used in business contexts. This is a senior manager level individual contributor role in which the person will perform 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. This manager will have the opportunity to present work through formal model validation reports, as well as through presentations to model owners and senior management. The nature of the team is very collaborative, and this team member will partner with other quantitative analysts at the company, as well as with external consultants. To ensure success, it will be key to evaluate model performance monitoring reports, conduct model revalidation & model annual reviews, and maintain model inventory.  

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 

• Advanced degree in a quantitative discipline (economics, statistics, finance, mathematics, physics). 
• 5-8 yearsexperience with financial predictive modeling disciplines, such as consumer behavioral modeling, econometric forecasting, Monte Carlo analysis, optimization theory, or decision science.  
• 5-8 years experience of fixed income instruments, interest rate risk, credit risk, and liquidity risk. 
• Advanced skills with analytical tools, such as R, Python or SAS. 

Preferred Qualifications 

• Experience with 3rd party ALM applications, such as Polypaths, Bancware or QRM
• D. in a quantitative discipline (statistics, mathematics, physics, economics).
• CFA, FRM, CTP certification.
• 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