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.
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 manager level individual contributor role in which the person will perform 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. This manager will have the opportunity to present work through formal model validation reports, as well as through verbal presentations to model owners, senior management, and oversight agencies. We are seeking a manager who is strong in challenging implementation design, model use within different environments, data management, and change management. The nature of the team is very collaborative, and this person will partner effectively with model owners to identify and drive practical resolutions for gaps in model risk management. This manager will also coordinate with other teams that are assisting in the validation report. To ensure success, it will be key to evaluate model performance monitoring reports and conduct model revalidation & model annual reviews.
What you have
Required Qualifications
- A master’s degree or PhD in a quantitative discipline (economics, statistics, mathematics, physics, data science, computer science).
- One to three years of experience in quantitative modeling.
Preferred Qualifications:
- Be an initiative-taker, able to work independently and within a team environment, with a proven ability to review and challenge complex application infrastructures and software implementation.
- High attention to detail, sharp critical thinking, and problem-solving skills.
- Excellent writing skills with proven ability to prepare and create executive-level reports and documentation.
- Excellent communications skills with the ability to present and describe issues and solutions to their team, model owners, developers, and executive staff.
- Excellent people skills.
- Experience developing, implementing, or executing quantitative or predictive models using statistical programming languages (e.g., Python, R, Matlab) is a plus.
- Experience with object-oriented programming languages (e.g., C#, Java) is a plus.
- Experience with SDLC concepts and related systems (e.g., JIRA, Bamboo, Zephyr, Bitbucket, Remedy) is a plus.
- Experience in model risk management.
- Familiarity with regulatory guidance such as SR11-7, 15-19, etc.
- Knowledge of model governance processes and regulatory requirements for large US banks.
What’s in it for you
At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.
We offer a competitive benefits package that takes care of the whole you – both today and in the future:
- 401(k) with company match and Employee stock purchase plan
- Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions
- Paid parental leave and family building benefits
- Tuition reimbursement
- Health, dental, and vision insurance
