Model Validation Senior Specialist

1 week ago

Lone Tree, United States Charles Schwab Full time
Your 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.

 

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 the models at the company.

 

We are hiring a quantitative analyst to conduct model validations and make additional contributions to the Model Risk Oversight team. The analyst will need strong quantitative aptitude and a good understanding of how financial models are used in business contexts. This is a senior specialist level individual contributor role in which the person will perform 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. This senior specialist will have the opportunity to present work through formal model validation reports, as well as through presentations to model owners and senior management. The nature of the team is very collaborative, and this team member will work effectively with other quantitative analysts at the company, as well as with external consultants. To ensure success, it will be key to evaluate model performance monitoring reports and conduct model annual reviews.

What you have

Required Qualifications

  • Advanced degree in a quantitative discipline (economics, statistics, finance, mathematics, physics, engineering)
  • Advanced skill with one or more analytical tools, such as Python, R, SAS, or MATLAB

 Preferred Qualifications

  • Solid understanding of financial predictive modeling disciplines, such as time series forecasting, consumer behavioral modeling, dynamic equilibrium models, optimization theory, panel data analysis, and decision science
  • Experience working as a quant in the financial industry
  • Knowledge of model governance processes and regulatory requirements for large US banks
  • Excellent people skills
  • Strong oral and written communication skills

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

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