Pay range: USD $90,000.00 - $164,500.00 / Year
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.
We are seeking to hire a risk management professional who can help advance the oversight and management of fraud risk across the firm from a second-line-of-defense posture - including monitoring and effectively challenging the execution of roles and responsibilities across the firm to manage fraud risk in alignment with the firm's risk appetite and relevant regulations, policies, standards, controls, and procedures.
Located within Financial Crimes Risk Management (FCRM), the purpose of Fraud Risk Management is to oversee fraud risk in support of Schwab's ability to protect the assets of our customers and company. We work with partners across the firm to proactively identify, assess, manage, and mitigate fraud risk. Our group partners with risk and business units across the firm to assess potential fraud vulnerabilities in products, services, and processes. We conduct independent second-line investigations and resolution of claims of unauthorized or suspicious activity in our customers' accounts. We report fraudulent activities to law enforcement and other regulatory authorities, review and analyze suspicious activity to determine emerging fraud trends, and support the prevention and recovery of funds lost from clients' custody.
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What you will do:
We are seeking risk management expertise and experience in managing and overseeing fraud risk in a regulated financial services environment. The individual will need to be familiar and experienced with second-line-of-defense risk oversight and able to effectively execute second-line activities designed to support the firm's risk management framework and fraud risk management objectives. This individual's role will focus on efforts to develop and advance second-line risk management and oversight in relation to fraud risk monitoring, detection, management, and reporting. This person will demonstrate personal initiative, innovative thinking, and cross-functional collaboration to help develop oversight around the impact of fraud on Schwab and our clients, and identify, develop, and oversee enhanced mechanisms for fraud detection, prevention, and mitigation. Collaboration will be critical to the success of this role, and this individual will proactively seek opportunities to partner with stakeholders in Corporate Risk Management, FCRM, and Business Units across the firm to meet these objectives. This will also involve navigating a matrix of organizations, people, and processes, ranging from model owners, to service teams, to fraud investigators, to data/metric owners, and others.
This is an individual contributor role, and will join a team led by the Director of Fraud Risk Oversight. They will serve as a subject matter expert with respect to risk management and oversight topics, and will be asked to lead related processes and projects. They will identify procedural and strategic opportunities to mitigate fraud risk, collaborating with firm partners and industry peers on related initiatives. They will provide regular updates to management on cases, threats, trends, and projects. As needed, they may occasionally support other Fraud and Financial Crimes teams in detecting and investigating other suspicious activity, including account takeovers, imposters, new account fraud, trading-related activity, international activity, third-party money movement, rapid fund movement, Visa fraud, etc.
What you have
Required Qualifications:
- At least 8-12 years of professional experience working in a fraud, compliance, or risk management environment of the financial services industry, and/or financial investigations experience in Federal, State, or local law regulation or enforcement.
- Ability to proactively identify cross-functional partners, and engage with them proactively to solve problems. Proven collaboration skills with cross-functional teams to resolve customer fraud escalations effectively, balancing firm risk with client experience
- Demonstrable knowledge of the risk management framework, and experience with second-line-of-defense oversight, monitoring, reporting, and assurance activities
- Proven problem-solving skills, experience in handling complex customer issues, the ability to manage high-pressure situations, resolution, and follow-through
- Experience with risk assessments, risk assurance activities, and risk metrics management
- Experience with executive-level reporting, and an ability to distil complex data and underlying information into clear, comprehensive, and compelling narratives for consumption and action by senior audiences - both in writing and presentations
- Knowledge of escalation procedures, setting escalation timelines, and effective communication practices.
- Familiarity/experience with Suspicious Activity Reports (SARs) and other regulatory reports, including applicable standards and timelines.
- Understanding of complex scam and fraud tactics, typologies, and methodologies. Familiarity with leveraging complex algorithms and models (including Machine Learning and Artificial Intelligence) to identify, prevent, and investigate incidents of fraud and scams.
- Relevant experience in training, including designing training materials, organizing trainings, and presenting training material
- Exceptional client focus
- Ability to form relationships effectively and quickly, establish trust, respect, competence, and confidence
- Ability to work independently, capable of meeting strict deadlines, and demonstrate excellent organizational and time management skills
- Excellent verbal, written, and analytic skills to respond and process incoming referrals from internal/external business partners
- Strong PC skills in MS Office suite, especially PowerPoint and Excel, including ability to leverage complex formulas and reporting
- Knowledge of Fraud Risk Management tools is a plus. Examples include: riskCanvas, FRA, CLEAR, or Lexis Nexis
Preferred Qualifications:
- Experience with brokerage/bank services, products, processes, payments, or transactions is preferred
- Preference for bachelor's degree, advanced education, legal degree, and regulatory or law enforcement experience, Certified Financial Crime Specialist, Certified Fraud Examiner, and/or other industry certifications or training/education
- Proven expertise with financial investigations demonstrating risk-based judgement, problem solving skills, and strong analytical ability. Experience conducting interviews/investigations. Forensic investigative and/or customer service experience a plus
#FCRM
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