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Supervision and Controls is an independent group responsible for providing supervisory support through direct supervision, escalation, oversight, analysis and supervisory risk assessments, to Schwab's Investor Services (retail) group. Supervision and Controls vision is to be a trusted independent partner of all Schwab stakeholders that promotes business growth through effective risk management. We strive to improve business outcomes by providing and applying practical, consistent, effective and unbiased risk guidance that is grounded in a deep understanding of business goals as well as the regulatory and industry environment. What you are good atThe Supervision and Controls Strategy Team is responsible for our forward-looking "change the business" functions including business policy, supervisory training and quality assurance, supervisory program design, governance, and completing impact assessments in the event of business and regulatory changes on Schwab's Investor Services supervision programs. The S&C 360 Team Risk and Control Officer will be responsible for leading strategic initiatives including conducting deep dive reviews and risk assessments in support of S&C's broader strategic transformation program. This individual contributor role will be responsible for conducting deep dive reviews of existing supervisory processes, procedures, risks, and controls across S&C to identify risks, potential gaps, and opportunities to enhance supervisory controls and procedures. This role requires a risk-based mindset, strong analytical, audit, or testing background, excellent communication skills (both written and oral), strong business acumen, the ability to summarize and concisely present analysis results and recommendations to leadership, and a demonstrated ability to execute within tight timeframes. Regulatory, supervision, or technology background is a plus. Key qualifications include:- Strong regulatoryR or risk assessment background
- The ability to identify and assess the risk of complex supervisory processes (key rules/regulations/laws or policy requirements), clearly articulate any gaps, efficiencies, opportunities to strengthen our supervisory system, processes, or controls, and provide recommendations on risk mitigation alternatives and/or innovative solutions to address gaps.
- The ability to support the design and implementation of a framework that drives standardization, simplicity and scale across business lines, strengthens governance/oversight of S&C supervisory, control and risk management activities, and promotes transparent and holistic supervisory, control and risk practices.
- The ability to demonstrate ownership and accountability and drive actionable results in alignment with our strategy -carefully balance execution at speed with creating high quality, risk-based, sustainable, and scalable supervisory processes and controls
- The ability to analyze data to support risk identification, and validation of control and procedure effectiveness
- The ability to prioritize and maintain focus on highest risks / and leadership key priorities.
- The ability to document and present the results of your analysis to senior leadership including: articulation of "why" we supervise (risk/value of supervision by S&C), what standard we supervise to (rule/policy), current and future process workflows (in visio), summary of actionable findings (gaps, opportunities for efficiency, consistency), alternatives considered and recommended path forward/changes and plan/timeline to implement, all in alignment with overall strategy
- Ability to review existing controls and reporting and recommend and document suggested enhancements and/or business requirements for new supervisory tools
- Ability to develop project approach, milestones, and timelines, and participate or lead as appropriate governance meetings, provide updates on status, progress to date, risks/ roadblocks, and mitigation/action plans to address, what help/support is needed from leadership
- Strategic in thought, practical in approach (balance strategic vs. tactical)
- Ability to develop recommendations for short-, medium- and long-term changes that materially/incrementally move the dial on achieving our strategic vision (focus on the right risks, ensuring that our processes and controls are fit for purpose, building a simple and scalable operating model)
- Ability to develop strong and effective working relationships and establish trust with S&C peers and leaders, internal and external business partners
- Must be a self-starter and comfortable operating independently, and be able to navigate with autonomy; must proactively manage up, provide updates on progress, re-confirm priorities, and seek to clarity/help in the event of roadblocks
- Cross functional expertise and ability to work across functions to understand various views, recommend and influence the outcome, gain buy-in on path forward, and drive change through to implementation
- Bachelor's Degree required, JD a plus
- 5-8+ years' experience in financial services, broker/dealer and/or RIA
- Regulatory risk, legal, audit, compliance or regulatory examiner experience
- Strong analytical skills
- Basic knowledge of rules/regulations, 3 lines of defense, supervision principles, methodologies and tools, and governance principles within the wealth management / retail brokerage industry
- Innovative, positive attitude, proactive, professional, strong work ethic with high level of integrity and ethics and commitment to excellence
- Ability to operate in a fast-paced environment and demonstrate sound judgment
- Strong knowledge of Microsoft Office tools (PowerPoint, Excel, Word, Access)
- Series 7, 9/10 or 24 is preferred, but not required