Manager, Risk Analytics/Modeling

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.

Duties: Utilize a broad spectrum of statistical and analytical tools to evaluate model risk at the company. Prudently manage financial risk using sophisticated quantitative approaches. 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. Assess the rational and supporting evidence for model choices. Identify and assess model assumptions and limitations and assessing model accuracy and performance. Independently replicate models from theory to ensure accurate implementation and developing “toy” benchmark models to assess model performance and uncertainty. Perform sensitivity testing, back testing, and other forms of statistical and econometric analysis. Present work through formal model validation reports, as well as through verbal presentations to model owners and senior management. 

What you have

Job Responsibilities: Master's degree in Statistics, Mathematics, Financial Engineering, Management Information Systems, Information Management, or related field. Completion of a graduate-level course, research project, or internship involving the following skills: SAS, R, MATLAB, or Python; Utilizing machine learning (ML) models such as Gradient Descent Regressors and Classifiers, unsupervised models such as clustering algorithms, and reinforcement learning models such as multi-armed bandits;Artificial intelligence (AI) and Generative AI models; Applying machine learning and artificial intelligence to financial investment and advisory models; and Validations of Monte Carlo and modern portfolio construction methods used in advanced advisory models and active equity approaches. 

We offer competitive pay and benefits. Starting compensation depends on related experience. Annual bonus and other eligible earnings are not included in the ranges above. Benefits include: 401(k) w/ company match; employee stock purchase plan; paid vacation, volunteering, 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; hybrid/remote work schedule available for eligible positions (subject to Schwab’s internal approach to workplace flexibility).