Your opportunity
The Charles Schwab Corporation (CSC) Corporate Compliance Department coordinates the Company's compliance efforts and performs an advisory, monitoring, testing and education role to support management's supervisory responsibility and its efforts to achieve compliance with the financial services industry rules and regulations and policies of the Company. Corporate Compliance administers the firm’s compliance program which has evolved to include multiple regulated entities, including multiple broker-dealers, investment advisors and bank and trust companies among others. With this evolution, the Company’s compliance program has become increasingly sophisticated and the obligations of the team leading the program have also significantly evolved.
The Compliance Risk Assessment and Regulatory Inventory Director is a key leadership position within the Corporate Compliance organization, charged with the responsibility of embedding and refining the risk assessment processes across the lines of defense and establishing an enterprise-wide approach to effective risk mitigation through the ongoing maintenance and expansion of the company’s regulatory inventory and change management processes. The core responsibilities encompass leading initiatives to ensure comprehensive detection of material and emerging risks, maintaining, and advancing risk inventory technology capabilities and conducting impact assessments to apply materiality thresholds.
The successful candidate will have a robust background in compliance risk management at a large-scale financial services organization with a demonstrated ability to oversee such functions and effectively collaborate with senior stakeholders.
This individual will report to the Managing Director, Head of Corporate Compliance.
What you do:
- Lead teams executing compliance risk assessment processes and support the design and implementation of a strategic and sustainable regulatory inventory framework and traceability process.
- Provide specific and actionable advice and guidance on best practices to perform effective compliance risk assessment processes. Continually evaluating the need for enhancements to assessment and coordinate efforts.
- Establish and maintain risk ratings and materiality scales methodology used in identifying top and material risks.
- Support the Program Lead for Regulatory Inventory Management, collaborating with compliance and business subject matter experts across all Lines of Defense to strengthen understanding and rationale around regulatory interpretation and enable the build out of the Rule Inventory.
- Align and continuously evolve strategy for managing a Regulatory Inventory and mapping to relevant parts of the Risk Management Framework, including risks, policies, and controls.
- Regular reporting/presentation to the CCO, management committees, senior leaders and business partners on significant regulatory developments and enterprise-wide risk impacts
- Maintain and develop strong working relationships with critical control partners (line of business compliance, legal, business etc.) and other internal and external groups.
- Employ broad knowledge, understanding and awareness of compliance and regulations to inform, develop and evolve programs to meet FINRA, SEC, FRB and other regulatory requirements and expectations.
- Keep abreast of industry trends, regulatory changes, and emerging risks to proactively identify potential threats and opportunities and evolve the Risk Assessment process to align with changing business and regulatory practices.
What you have
- 15+ years in a compliance leadership role with specific experience in defining and leading compliance risk assessments in a regulated entity. Additionally, leading a regulatory change management program or other similar compliance process.
- BS/BA degree or equivalent work experience in compliance risk assessment
- Demonstrated exceptional judgment grounded in supervisory expectations of compliance risk assessment as well as a broad understanding of the potential implications of related actions and decisions.
- Deep understanding of the regulatory environment and industry expectations surrounding inventory design and maintenance as well as regulatory change management; the ability to effectively communicate the totality of the impact of a proposed solution; and success at implementing what’s best for the company overall.
- Proven success at managing high-performing teams of compliance professionals by setting strategic and tactical goals and developing criteria for measuring success achieving them.
- Experience working collaboratively with various groups with potentially disparate objectives.
- Results-oriented, able to quickly sort through information and develop concise and clear strategies and solutions.
- Outstanding written and verbal communication skills with demonstrated ability to communicate effectively with all levels of an organization.
- Experienced in effectively assessing, selecting, and developing talent for the firm. Adept at providing balanced, direct, and actionable feedback to employees. Experience managing multiple priorities and overseeing distinct teams with varied strengths.
- Thrives on initiating, building, and cultivating strong authentic relationships inside and outside the group; highly collaborative; navigates and activates alignment across organizational silos.
- Proficiency in Microsoft Office Programs (Word, PowerPoint, Excel) as well as SharePoint.
- Experience overseeing financial and/or non-financial risks, including interpreting, and adhering to associated prudential expectations.
- Strong attention to detail and analytical skills to collect data and find fact patterns that may drive policy development and risk management.
Preferred Experience:
- Experience working with inventory libraries as well as systems where inventories are maintained and connect to other risk functions is preferred.
- Several years of direct risk management framework experience at a large-scale financial services organization preferred, including enterprise risk management experience.
- Knowledge of the financial services industry, especially asset servicing, wealth management and banking and the regulatory environment in which they operate including regulatory themes emerging within industry.
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
