Director, Operations - Charles Schwab Trust Bank

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.

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location. 

Charles Schwab Bank Trust (CSTB) provides Trust and Custody services for qualified retirement plans, primarily 401(k) plans. As a leader of an Operations department at CSTB you will be responsible for meeting the operational needs of two main constituents, Retirement Business Services, who provide Trust and Custody services to external TPAs and Recordkeepers, and Schwab’s in-house record keeper, Schwab Retirement Plan Services.

The Director will be responsible for leading high-impact efforts to streamline operational capabilities provided to internal and external clients. In addition to supporting our existing product platforms and vendor relationships, this individual will be tasked with delivering the strategic roadmap to improve the client and employee experience. This is a high-impact role that requires the ability to effectively and efficiently solve complex problems and maintain close partnerships across the firm.

This role will oversee all facets of the Cash Operations department. The department includes four teams across two primary locations (Phoenix and Austin) with a variety of operational functions and responsibilities associated with each team. The department ensures that back-office work is completed for our TPA clients in an accurate and time sensitive manner. The department includes a Distributions team that performs all participant distribution of assets, a Tax team that produces all participant tax forms and amendments, as well as various Fed and State tax filings, a Cash Management team that is responsible for the oversight and movement of all cash both into and out of CSTB, and a Revenue Management team that handles complex calculations of fees, Shareholder Servicing Payments, and produces invoices for the TPA’s, as well as collecting revenue and maintaining accounts receivable.

The group includes approximately 35 employees at a variety of levels. The Director will work cohesively with the leadership team of CSTB on advancing new products and services through collaboration with business stakeholders, IT, project managers and subject matter experts, ensuring project deliverables are prioritized and completed timely. They will partner with the Risk organization to perform strategic risk assessments, identifying and resolving production errors. Hiring, training, and mentoring operations staff to deliver optimal performance is a critical success factor for this position. The Director will be energetic and enthusiastic about serving clients and our business partners, activating strategies, completing initiatives, and financial services broadly – with a particular focus on back-office operations within ERISA governed retirement plans.

What you have

Required Qualifications

• Bachelor’s degree or higher required.  (MBA preferred)
• Strong analytical skills and the ability to problem solve is a must
• 10+ years of Financial Services experience required (401k record keeping, Brokerage, Transfer agent or Trust operations experience strongly preferred).
• 5+ years of experience managing and leading teams with increasing scope and complexity of responsibility. (Experience managing other managers preferred)
• Ability to work in an operations environment where work volumes vary and may require flexible hours to address business needs.
• Superior communication skills, both written and verbal, with demonstrated ability developing materials and effectively presenting information.
• Ability to convey complex information clearly and persuasively; adept at engaging with senior leadership and key stakeholders, instilling confidence through thoughtful insights, active listening, and sound judgment.
• Ability to inspire, motivate, and drive groups towards achieving ambitious goals.
• Collaborative and relational work style with proven success in a team environment.
• Positive attitude, enthusiasm, professionalism, and strong work ethic with high level of integrity and ethics.

Preferred Qualifications

• Demonstrated trajectory of advancement through leadership ranks, reflecting continuous professional development and adaptability to complex challenges.
• Demonstrated business maturity as a leader with strong execution experience leading teams supporting complex and varied projects and enterprises.
• ERISA knowledge and experience.
• ASPPA designation.
• Base Compensation: $103,500-$230,000.  Your compensation may be different.  Talk with your Talent Advisor to learn more.  In addition to the salary range, this role is also eligible for bonus or other incentive opportunities.