Your opportunity

Model Risk Oversight is a strategic function within the broader Corporate Risk Management umbrella to provide oversight over a broad spectrum of models that create innovative products for our clients, and 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 context to effectively challenge the choice of methods and assumptions. Prior experience with Asset Liability Management, Liquidity Risk, or Market Risk (Term structure, prepayment, risk metrics of fixed income, derivative hedging, etc.), is desirable.

The job responsibilities will include, but not be limited to:

• Performing 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.

• Presenting work through formal model validation reports, as well as through verbal presentations to model owners, senior management, and oversight agencies.

• Collaborating effectively with model owners to identify and drive practical resolutions for gaps in model risk management.

• Evaluating model performance monitoring reports and conducting model annual reviews.

*This will be an individual contributor role.

What you have

Required skills and qualifications:

• Advanced degree in a quantitative discipline (Finance, Economics, Statistics, Mathematics, Physics).

• 5+ years of work experience in quantitative modeling or validation of Asset Liability Management (ALM), market risk or liquidity risk models.

• An in-depth understanding of fixed income instruments, interest rate and prepayment modeling.

• Advanced skill with one or more analytical tools, such as R, Python, SAS, SQL, VBA, or Tableau.

Preferred skills and qualifications:

• Experience with 3rd party ALM applications, such as Polypaths, Bancware or QRM.

• CFA and/or FRM and/or CTP certification.

• Knowledge of model governance processes and regulatory requirements for large US banks.

• Strong verbal and written communication skills.

• Excellent people skills.

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

CO Salary Range: USD $101,000 - $224,400 / Year

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

Schwab is an affirmative action employer, focused on employing and advancing in employment, qualified women, racial and ethnic minorities, protected veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at applicantaccessibility@schwab.com or call 800-275-1281.