Senior 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. 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(s). This will be a hybrid Monday- Friday standard business hour position. The hybrid model currently is 4 days a week in-office, Fridays from home. Applicants must be currently authorized to work in the United States on a full-time basis without employer sponsorship.

Group Overview

Fraud Risk Oversight (FROST) is a team within the Fraud Risk Management group (FRM) in Financial Crimes Risk Management.  FRM is responsible for the design and oversight of Schwab’s fraud risk management program, which protects client and firm assets through prevention and mitigation of fraud losses. FROST is responsible for coordinating and performing Second Line of Defense (2LOD) oversight of Schwab’s fraud risk management program.  FROST regularly engages with First Line of Defense (1LOD) and 2LOD stakeholders throughout the fraud risk management lifecycle to share information on fraud trends and control updates.  FROST is also responsible for providing guidance and effective challenge to the 1LOD on fraud control design and performance.

Fraud Risk Oversight Analytics and Research (FROST A&R) analysts play a critical role in the firm’s fraud risk management program. They are responsible for maintaining a full view of the fraud life cycle across all Schwab products, including new accounts, asset transfers, trading, wires, ACH, Visa debit cards, bill pay, journals, and other products.  FROST A&R analysts leverage a broad range of data to identify fraud trends; monitor the design and performance of applicable fraud models, rules, decision strategies, and other controls; and conduct other research into fraud risks and mitigation strategies.  They leverage the results of these reviews to provide guidance and effective challenge to 1LOD business partners, support leadership reporting, and advise senior leadership on fraud risk management program design.  

Responsibilities

The selected candidate will help drive the success of the 2LOD Fraud Risk Oversight Program. The Senior Manager, an individual contributor role, will work closely with peers and business partners to identify risks and target illicit behaviors, use data to quantify fraud trends, losses, behaviors, gaps in policies and procedures, and support effective and efficient management of fraud scenarios. This position requires a self-starter with strong analytical, technical, and communication skills.

This position is ideal for an individual who can transform complex challenges into valuable insights; develop documented, repeatable methodologies; craft clear narratives; and deliver actionable recommendations. A successful candidate will use evidence-based guidance and effective challenge to influence outcomes, with strong analytical, technical, and communication skills and a commitment to scalable monitoring and repeatable analytics.

Key Responsibilities include but are not limited to:

• Work independently and collaboratively throughout the analytics lifecycle including data extraction/preparation, analysis, and documentation of results.
• Leverage tools and analytical applications such as SQL, Python, R, and SAS in daily work to build repeatable analytics and monitoring solutions.
• Maintain a full-lifecycle view across products/channels; identify emerging fraud patterns, loss drivers, and behavioral changes that impact risk and control performance.
• Monitor and assess the design and performance of fraud models, rules, and other controls; identify gaps, drift, and opportunities to improve effectiveness and efficiency.
• Partner with technical and non-technical resources across the business to leverage their support delivering solutions while ensuring analytical outputs are understood, usable, and decision relevant.
• Work with Operations and 1LOD partners to identify gaps in system/operations process flows ensuring alignment of strategy/intent, execution, and policies/procedures.
• Pro-actively analyze data to uncover insights that increase business value and recommend additional solutions not considered by the business partners.
• Suggest enhancements to fraud strategies (rules) to effectively target risky behaviors and reduce fraud exposure while considering operational impacts (e.g., false positives, case volumes).
• Create effective presentations and communicate analysis approach, methodologies, key findings and recommendations to business partners and leadership.
• Expand knowledge of red flags, emerging risks, and analytical methodologies used to target various payment channel frauds and related illicit activity.
• Approach analytical problems with a blend of statistical/mathematical rigor and practical business intuition.

What you have

Required Qualifications

• Bachelor’s degree in Statistics, Mathematics, Economics, Business Analytics, Operations Research, or similar quantitative field.
• 5+ years’ experience in analytical roles developing intermediate/advanced SQL queries and gathering data from transactional databases across multiple platforms.
• Strong programming skills leveraging analytical tools such as SAS, R or Python (hands on development and analysis).
• Highly analytical with ability to solve problems and successfully understand and articulate the linkage between business decisions, business objectives, and analytical approaches & findings.
• Advanced ability to evaluate large quantities of data, summarize key findings and recommend a course of action to management.
• Understanding of risk-based decision strategy development and decision engines.

Preferred Qualifications

• Advanced quantitative degree
• Financial Crimes experience
• Financial Services experience
• Cryptocurrency experience
• Fraud strategy development hands on experience (rules/controls, monitoring, tuning)
• Oversight experience in Fraud and Risk Management space (independent monitoring/oversight reviews; evidence-based challenge).
• Experience with Visualization tools (Power BI / Tableau)
• Demonstrated experience monitoring performance of models/rules/controls (e.g., drift, segmentation, false positives/false negatives) and translating results into partner actions