Salary: USD $101,000 - $224,400 / Year
Your opportunity
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 models at the company.
We seek a senior quantitative analyst to conduct model validations and make additional contributions to the Model Risk Oversight team. The senior analyst will participate in several model governance activities in business areas that leverage a variety of Artificial Intelligence techniques. The use of Artificial Intelligence at Schwab is growing rapidly and the senior analyst will work primarily on validating models of this type.
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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 presentations to model owners and senior management;
- Working effectively as a team member with other quantitative analysts at the company, as well as with external consultants;
- Evaluating model performance monitoring reports and conducting model annual reviews.
*This will be an individual contributor role.
What you have
Required Qualifications:
- Advanced degree in a quantitative discipline.
- 5+ years of work experience with model development or model validation related to Artificial Intelligence techniques such as machine learning or Natural Language Processing.
- Advanced skill with analytical tools, such as SAS, R, MATLAB, or Python.
- Knowledge of SR 11-7 regulatory guidance and corresponding model governance requirements for banks.
Preferred Qualifications:
- Strong verbal and written communication skills.
- PhD degree in a quantitative discipline.
- AI/ML/NLP Model development or model validation experience in a regulated financial institution.
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