Salary: USD $87,800 - $195,200 / 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.

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. The nature of the team is very collaborative, and this team member will partner with model owners to identify and drive practical resolutions for gaps in model risk management. To ensure success, it will be key to evaluate model performance monitoring reports and conduct model revalidation & model annual reviews.

• Advanced degree in a quantitative discipline (economics, finance, statistics, mathematics, physics, engineering)
• 2+ years of work experience in quantitative modeling or ALM/Interest Rate Risk
• Understanding of fixed income instruments, interest rate and prepayment modeling
• Advanced skill with one or more analytical tools, such as SAS, R, Python, SQL, VBA or Tableau

• Experience with 3rd party ALM applications, such as Polypaths, Bancware or QRM
• Experience working as a quant in the financial industry
• Experience in banking or insurance with an emphasis on ALM (net interest income and balance sheet forecast), fixed income analytics, modeling or market risk
• CFA and/or FRM and/or CTP certification
• Knowledge of model governance processes and regulatory requirements for large US banks
• Excellent people skills
• Strong oral and written communication skills

• 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