Senior Manager, Model Risk Oversight
About The Position
At Schwab, you are 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. Charles Schwab's Model Risk Oversight (MRO) team oversees the use and risk of predictive modeling at the firm. MRO is responsible for performing validations of the conceptual soundness and technical implementation of models to ensure their reliability. The MRO team is seeking a Senior Manager to oversee the validation of complex financial models, particularly those used in asset management. The ideal candidate will have a deep understanding of regulatory requirements, such as SR11-7, and experience in validating models like value-at-risk, tracking error, money market stress testing, and other asset management models. Strong communication skills and a knowledge of artificial intelligence and machine learning (AI/ML) techniques would be helpful. This role is crucial for ensuring the accuracy, reliability, and compliance of our models, and it requires a high level of technical expertise and excellent communication skills. This job will require being in-office at a Schwab location four days a week.
Requirements
- 8+ years of financial industry or consulting experience.
- Bachelor's degree in Finance, Economics, Engineering, Science, Mathematics, Statistics, Computer Science, or a related field.
- 8+ years of experience in model development, model validation, or similar quantitative experience.
- Strong knowledge of SR11-7 and other regulatory guidelines for model risk management.
- Proficiency in statistical and quantitative analysis, as well as programming languages such as Python, R, or SQL.
Nice To Haves
- Relevant experience in trading, asset management, or portfolio management areas.
- Relevant experience with asset management models, artificial intelligence, or machine learning models.
- Excellent communication and presentation skills, with the ability to explain complex technical concepts to non-technical audiences.
- Ability to work independently and manage multiple projects simultaneously.
Responsibilities
- Validation of financial models, ensuring they meet regulatory standards and internal risk management policies.
- Review and challenge model assumptions, data quality, and model performance to identify potential risks and areas for improvement.
- Provide constructive feedback to a variety of to both quantitative and non-quantitative stakeholders including portfolio managers and risk managers.
- Prepare detailed validation reports and present findings to senior management and regulatory bodies.
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Senior
Industry
Securities, Commodity Contracts, and Other Financial Investments and Related Activities
Number of Employees
5,001-10,000 employees
