Vacancy expired!
Your Opportunity
Model Risk Oversight is a strategic function within the broader Corporate Risk Management umbrella that uses 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.Workplace Flexibility Program : We're proud to support our employees in a working approach that allows you to bring your best self to work - whether that's in the office or remote.Most Schwabbies have the opportunity to voluntarily work in the office or at home based on their preference.When the firm is ready to fully return to the office, employees will have the flexibility of a hybrid work environment, spending some time working remote and some time in the office.Employees and managers can discuss and decide what works best for them, with additional flexibility available based on their role, business needs, and individual circumstances.Subject to change as Schwab is continually evaluating the current environment in order to best care for the safety and well-being of our employees."What you are good atWe 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 proficiency and a good understanding of how financial models are used in business contexts. 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;
- Advanced degree in a quantitative subject area (economics, statistics, finance, mathematics, physics).
- 3+ years of work experience in quantitative modeling.
- Advanced skill with one or more analytical tools, such as Python, R, SAS, or MATLAB.
- Strong oral and written communication skills.
- Excellent people skills.
- Ph.D. in a quantitative subject area (economics, statistics, finance, mathematics, physics).
- 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 with Non-Maturity Deposit Models, market risk analysis, and interest rate risk analysis.
- Experience working as a quant in the financial industry.
- Knowledge of model governance processes and regulatory requirements for large US banks.