Model Validation Senior Specialist

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 presentations to model owners and senior management. The nature of the team is very collaborative, and this team member will partner with other quantitative analysts at the company, as well as with external consultants. To ensure success, it will be key to evaluate model performance monitoring reports, conduct model revalidation & model annual reviews, and maintain model inventory.

What you have

Required Qualifications

• MA / MS in a quantitative discipline (economics, statistics, finance, mathematics, physics).
• Some familiarity with financial predictive modeling disciplines, such as consumer behavioral modeling, econometric forecasting, Monte Carlo analysis, optimization theory, or decision science.
• Some familiarity of fixed income instruments, interest rate risk, credit risk, capital risk and credit risk.
• Advanced skills with analytical tools, such as R, Python or SAS.

Preferred Qualifications

Why work for us?

Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.

Benefits : A competitive and flexible package designed to empower you for today and tomorrow. We offer a competitive and flexible package designed to help you make the most of your life at work and at home—today and in the future.