Director, Regulatory Liaison Office

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. 

The Regulatory Liaison Office’s (RLO) mission is to drive an informed, efficient, and effective regulatory engagement program by serving as a central point of contact for all regulatory risk matters. The RLO’s vision is to be a trusted liaison with Schwab business partners and with our regulators by encouraging clarity, communication and credibility to support Schwab’s businesses as they help our clients Own Their Tomorrow.

The Functional Regulatory Team is responsible for the coordination of regulatory activities with our securities regulators including FINRA, SEC, NFA, CFTC, MAS, FCA, States and SFC.  The Director will lead a team responding to regulatory inquiries, supervising regulatory developments, and collaborating across the firm to mitigate regulatory risk. This role will report to the Director of the Functional regulatory team in RLO.

Responsibilities include:

• Lead a team of Regulatory Liaison professionals who respond to complex inquiries and examinations from regulators in these areas:  Investor Services, Branch Network, Financial Crime Risk Management, Advisor Services, Operations and Trading, and International.
• Investor Services.  The team serves as the primary point of contact within the Regulatory Liaison Office for all examinations and inquiries regarding the firm’s Investor Services accounts, clients, processes, employees, and activity. 
• Branch Network.  The team supports the regulatory activities of the Branch Network including responding to inquiries and examinations by FINRA, States and the SEC regarding sales practice activities and Regulation Best Interest.
• Financial Crimes Risk Management.  The team supports the regulatory activities of the Financial Crimes Risk Management department.  These activities include regular inquiries and examinations by FINRA, States and the SEC regarding anti-money laundering, senior exploitation, and fraud. 
• Advisor Services. The team supports the regulatory activities of Advisor Services by responding to multiple regulatory requests regarding independent advisors on our platform and/or internal Advisor Services processes.
• Operations and Trading. The team supports regulatory activities that involve trade reporting, operational processes, and the digital platform.
• International. The team supports exams and inquiries originating from the Securities and Futures Commission of Hong Kong, Monetary Authority of Singapore, and the Financial Conduct Authority.
• Utilize experience and judgment to escalate regulatory inquires and complaints internally for awareness.
• Conduct post-resolution analyses to identify lessons learned and areas for improvement in the company’s regulatory response processes.

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

• Experience working at a securities regulatory agency (i.e., SEC, State or FINRA), or similar experience;
• 10+ years experience in the broker-dealer industry with regulatory risk experience
• Experience investigating customer complaints
• Extensive experience in managing branch, anti-money laundering, financial operations, and sales practice examinations.
• Law, Finance, Business or Economics Degree
• Excellent written and verbal advocacy skills;
• An ability to digest and summarize complex issues for senior business leaders;
• A demonstrated ability to lead a group of dynamic and diverse professionals focused on responding to inquiries and examinations by functional securities regulators;
• A demonstrated ability to identify and appropriately escalate risk to multiple internal partners;
• Extensive organizational knowledge of Schwab.

Preferred Qualifications

• Strong interpersonal and communication skills to develop and maintain relationships with key business partners and at all levels of the firm;
• Excellent judgment and critical thinking in order to provide sound strategic advice to business partners;
• Excellent quantitative skills and expertise
• Law degree or the following securities licenses: 
  • Series 7 (General Securities Representative)
  • Series 24 (General Securities Principal)
  • Series 4 (Options Principal)
  • Series 3 (National Commodities Futures)
  • Series 63 (Uniform Securities Agent State Law)
  • Series 34 (Retail Off-Exchange Forex Examination)