Model Validation Quantitative Analyst

Your Opportunity

Charles Schwab has been a leader in financial services for over four decades, working to make investing more affordable, accessible and understandable to all. Driven by our purpose to champion every client’s goals with passion and integrity, we’re committed to providing an environment that respects and appreciates the diversity of our employees, our clients, and the communities we serve. Our goal, as seen through clients' eyes, is that Schwab continuously improves on being a premier financial service provider through best in class service, technology, products, people and advice.

Organizational Objective/Purpose:Model Risk Management 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 Management team plays a key role in identifying, reviewing, and monitoring all the models at the company.

Brief Description of the Role:We are hiring a quantitative analyst to conduct model validations and make additional contributions to the Model Risk Oversight team. The model validator will need strong quantitative aptitude and a good understanding of how financial models are used in business and regulatory 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;

Maintaining model inventory

This will be an individual contributor role.

What you have

MA/MS in a quantitative discipline (economics, statistics, finance, mathematics, physics)

Some familiarity with financial predictive modeling disciplines, such as consumer behavioral modeling, econometric forecasting, Monte Carlo analysis, optimization theory, or decision science.

Some familiarity of fixed income instruments, interest rate risk, credit risk, capital risk and credit risk

Advanced skills with analytical tools, such as R, Python or SAS

Strong oral and written communication skills.

Excellent people skills.

Preferred skills and qualifications:

Experience with financial data providers, such as FactSet, Bloomberg, Thomson Reuters or Capital IQ is a plus.

Experience associated with development, use, or validation of stress testing models (CCAR or DFAST) is desirable.

Experience working as a quant in the financial industry.

Knowledge of model governance processes and regulatory requirements for large US banks.

Experience with Polypaths

CFA, FRM, CTP certification.

Regular