We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.
As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.
Our Opportunity:
The Internal Audit Department (IAD) of The Charles Schwab Corporation provides independent and objective assessments to figure out whether all significant risks are identified and appropriately reported by management and risk functions to the Board and Executive Management, to evaluate whether risks are adequately controlled, and to challenge Executive Management to improve the efficiency of governance processes, risk management, and internal controls.
The Corporate Internal Audit team is seeking a Manager, Internal Audit, Risk Analytics/Modeling. The Corporate team is responsible for execution of audits over the firm’s corporate and risk management functions including model risk.
We are hiring a quantitative senior specialist to perform testing as part of audit reviews of model development, governance and validation controls. This individual will contribute to the Corporate Internal Audit team.
The candidate will need strong quantitative acuity and developing understanding of how financial models are used in business contexts. The role includes performing testing as part of audit reviews of various model types including: Capital Stress Testing (CST), Fraud, Anti-Money Laundering (AML), Machine Learning, Credit risk, Interest Rate risk, Margin risk, Investment risk, and Business Intelligence/Marketing.
What you’ll do:
Audit Execution:Direct and supervise the design and execution of internal audits on models, ensuring work is performed in accordance with IAD methodology.Participation on an audit team may include internal or co-sourced internal audit professionals.Lead meetings with partners.Ensure coordination with integrated and data analytic audit teams.Prepare and/or review work papers to ensure clear identification of risks and issues, validating appropriateness of fieldwork testing, and sign-off on audit deliverables.Handle and advance changes in audit timelines, budget, resourcing, and achievements.Assess the quality of management’s Risk & Control Self-Assessments.Work with capital, interest rate, liquidity and model related audit areas.Issues Identification: Review draft issue observations, vet issues with key partners, identify compensating controls, and evaluate the appropriateness of the management action plan prior to finalizing the audit report.Issue Management and Validation: Monitor and review issue validation testing to ensure comprehensive testing and adherence to SLAs.Business and Project Monitoring: Participate in the department’s business and project monitoring program execution to identify emerging risks.Risk Assessment: Participate in the annual Risk Assessment process, including the scoring and documentation of risk ratings. Review audit universe updates after the completion of each audit.Coaching: Provide support, mentoring, and feedback to the audit team throughout the audit. Provide assistance with onboarding and ongoing support to new team members.Regulatory: Conduct validation testing on the action plans completed by management to address MRAs. As needed, provide responses to IAD management related to regulatory questions during exams.Administration/Training: Completion of firm-wide and departmental administration and training requirements.Other Initiatives/Special Projects: As needed, assist with special projects related to business operational improvement or department strategic initiatives. What you have 5-7+ years of financial services-related audit experience with growing responsibility. Corporate, Broker Dealer, Bank Operations, or Regulatory Compliance experience specific to internal audit and/or similar Big 4 Accounting or regulatory experience a plus.Advanced degree in a quantitative field (economics, statistics, finance, mathematics, physics)2-3 years of work experience in quantitative modellingAdvanced skill with one or more analytical tools, such as SAS, R, Python, or MATLABStrong oral and written communication skillsExcellent people skillsClear understanding of methodology and regulatory expectations in the execution of audit work, issue validation, MRA validation, and the response to regulatory inquiries.Solid understanding of financial predictive modeling fields, such as consumer behavioral modeling, time series forecasting, dynamic equilibrium models, optimization theory, panel data analysis, and decision scienceExperience with Non-Maturity Deposit Models, market risk analysis, and interest rate risk analysisExperience working as a quant in the financial industryDetailed knowledge of model governance processes and regulatory requirements for large US banksCFA and or FRM certification preferred 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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