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Sr. Manager, Investment Risk

1 month ago


Indian Hills, United States Charles Schwab Full time
Position Type: RegularYour 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. 

 

Schwab Asset Management (SAM) is the asset management arm of the Charles Schwab Corporation and has over $1.2 Trillion assets under management in mutual funds, ETFs and separately managed account strategies. Products managed include a wide variety of active and indexed equity, fixed income, asset allocation strategies, and money markets funds. SAM uses a consistent and disciplined approach to investing across all our products and seeks to develop innovative new products to meet the core investing needs of our clients.  The SAM Investment Risk Team quantifies and reports on the investment risk of more than 420 different investment portfolios and strategies.

 

The Senior Manager will be a key member of a dedicated SAM Investment Risk Management team and will work closely with the Head of Investment Risk, fellow team members, portfolio managers, analysts and other business specialists on the subject of model risk management. The term “model” refers to a quantitative method, system, or approach that applies statistical, economic, financial, or mathematical theories, techniques, and assumptions to process input data into quantitative estimates.  While model development typically requires a strong quantitative background – and while that background or training would be a distinct advantage in this role as well - this role emphasizes administrative competence, personal diligence, and the capability to learn - to become familiar with the practical aspects of model risk and model risk management - with the final goal of efficient administration of a large number of models as a delegate of that responsibility by model owners.

 

Key responsibilities include

  • Organize and facilitate SAM compliance with Federal Reserve (SR 11-7) guidance on Model Risk Management, largely as interpreted by Schwab’s Model Risk Oversight (MRO) division.
  • Become an expert on the Model Risk standards, policies and procedures developed for model owners by MRO to help model owners comply with SR 11-7. Partner and collaborate closely with MRO experts towards mutual SAM and MRO goals. Act as a knowledge resource and advisor on model risk standards, policies and procedures.
  • Act as an advocate for SAM model owners, and help SAM model owners comply with internal and external guidelines, standards, policies and procedures concerning Model Risk.
  • Become acquainted and familiar with SAM’s investment products, and with the conceptual characteristics of SAM’s suite of models.
  • As a delegate of, and advocate for model owners, wherever possible take up to full responsibility for model validation, re-validation, annual review, and model performance reporting.
  • Maintain extensive documentation libraries in a professional, organized, efficient fashion.
  • Partner with model owners in the model risk management aspects of audit of their processes.
What you have

Required Qualifications:

  • The ideal candidate will have 5+ years of experience with Investment Management on the buy side.  
  • Strong experience with Microsoft Office tools (MS Excel, Word, PowerPoint, Outlook) is a requirement. 

 

Preferred Qualifications: 

  • Ideally you are an experienced administrator of technical matters.
  • You have a desire to help others fulfill their absolute requirement to comply with complicated and extensive rules, regulations, and standards. You derive satisfaction and fulfillment from that ends.
  • A quantitative background is a plus, as is a background in administration of quantitative processes.
  • Programming skills and experience with investment management expert vendor facilities (for example Aladdin, Factset, Morningstar, Bloomberg, and Barra) is a plus.  Experience with Migraph is a distinct plus.
  • Experience in all areas of investment management is valued, as well as experience in risk management in general and model risk management in particular.
  • Experience in negotiation towards the achievement of pragmatic and material results, or the desire and ability to grow negotiation skills.
  • Sufficient depth of experience to interact and communicate effectively with technical experts and portfolio managers via meetings, presentations, and written reports.
  • You are qualified to learn. For example, today you might not be familiar with a particular, very technical body of knowledge but you are unafraid and willing to apply yourself to learning more about it.
  • Superior communication skills: Ability to explain quantitative concepts to a nontechnical audience, and communicate different messages clearly, authentically, and persuasively in a persuasive manner.
  • Ability to work effectively in a collaborative environment.
  • Ability to Identify and remove obstacles that hinder or prevent teams from doing their best work.

 

In addition to the salary range, this role is also eligible for bonus or incentive opportunities. 


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