Welcome page Returning Candidate? Log in Director, Model Validation Job Locations US-CO-Lone Tree | US-TX-Westlake | US-AZ-Phoenix | US-TX-Austin Requisition ID 2024-106483 Posted Date 18 hours ago(1/3/2025 6:33 PM) Category Risk & Regulatory Salary Range USD $116100.00 - $258100.00 / Year Application deadline 1/10/2025 Position Type Full time Your Opportunity

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.

 

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 director level individual contributor responsible for conducting model validations and making additional contributions to the Model Risk Oversight team. This Director will need strong quantitative aptitude and a good understanding of how Bank Secrecy Act, Money Laundering, and Sanctions related models are used in business context to effectively challenge the choice of methods and assumptions. The job responsibilities will include, but not be limited to: 

Performing and supervising 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 and senior management.Explaining and defending the outcomes of model governance activities to other internal review groups and regulatory agencies.Collaborating effectively with model owners to identify and drive practical resolutions for gaps in model risk management, providing input on appropriate performance monitoring metrics, and representing MRO at business-line working groups. What you have

Required skills and qualifications:

Advanced degree in a quantitative discipline (Statistics, Economics, Finance, Mathematics, Physics, or Engineering)7+ years of work experience with model development or model validation.Extensive experience with Bank Secrecy Act, Money Laundering, and Sanctions related models.Advanced skill with one or more analytics tools, such as Python, SQL, R, MATLAB, or VBA.Strong oral and written communication skills, and excellent interpersonal skills.

Preferred skills and qualifications:

CFA and/or FRM.Knowledge of model governance processes and regulatory requirements for large US banks, including BSA/AML regulations.ACAMS AML and/or ACFCS certification. Options Apply for this jobApplyShareRefer a friendRefer Sorry the Share function is not working properly at this moment. Please refresh the page and try again later. Share on your newsfeed 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.   Application FAQs

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