Senior Manager, Model Risk Oversight

Your Opportunity

At Schwab, you are 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.

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 at a Senior Manager level 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 cutting edge financial, fraud and marketing models are used in business contexts. Prior experience with model-driven trading and evaluation of financial instruments, fraud monitoring and marketing models, especially those from data science area like machine learning, natural language processing, AI models is desirable.

The job responsibilities will include, but not be limited to:

• Performing model validations following guidelines based on SR 11-7, to include an assessment of model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environment.
• Work on enhancing the capabilities and refining of a machine learning platform used for effective challenge during validations.
• Presenting work through formal model validation reports, as well as through verbal presentations to model owners and senior management.
• Working effectively as a team member with other quantitative analysts at the company, as well as with external consultants.
• Evaluating model performance monitoring reports and conducting model annual reviews.

This will be an individual contributor role.

What you have

Required qualifications:

• Advanced degree in a quantitative discipline (data science, statistics, mathematics, physics, engineering).
• 3-7+ years of work experience in quantitative modeling.
• Advanced skill with one or more analytical tools, such as R, MATLAB, or Python and machine learning packages such as Scikit-learn or similar.

Preferred qualifications:

• Strong oral and written communication skills.
• Excellent people skills.
• Experience working with investment management, including model-driven trading and evaluation of financial instruments.
• Experience working with machine learning systems that target financial crimes (fraud, AML) and/or marketing and business analytics areas.
• Comfortable working with large and unstructured data sets.
• Experience with the development and use of machine learning models. 
• Ph.D. in a quantitative discipline (data science, statistics, mathematics, physics, engineering).
• Experience working as a data scientist or quant in the financial industry.
• Professional certifications: CFA, FRM, CFCS or similar.
• Knowledge of model governance processes and regulatory requirements for large US banks.