Sr Specialist, Managed Account Solutions

Your opportunity

Schwab’s Wealth & Advice Solutions (WAS) organization drives our strategy to create an integrated Wealth and Advice Solutions business and prioritize the investments we make in them. Within WAS, Investment Offers & Solutions (IOS) is responsible for managing our third-party product marketplaces (Alternative Investments, Managed Accounts, Mutual Funds, ETFs, Structured Products, Fixed Income, Annuities & Insurance, and 529) as well as our proprietary Separately Managed Accounts. Our mission is to provide a positive experience for the Schwab clients that invest in these products, while growing a revenue stream which is vital to Schwab’s overall financial health.

Within IOS, Managed Accounts Solutions (MAS) is responsible for the end-to-end offer management for our third-party and proprietary managed investing, primarily Separately Managed Accounts (SMA). To do this, we maintain a robust product offering (e.g. by developing new offers, enhancing existing offers, or adding resources to the platforms), develop new tools and research for clients, build relationships with third-party and proprietary asset management partners, and work effectively with internal partners and outside firms to create a strong positive client experience. Serving individual investors, registered investment advisors (RIAs), retirement plans, and other institutional clients, our Managed Accounts offers are a centralized and shared resource for the firm.

As a member of the team, you will have the opportunity to be responsible in relationships with third-party asset managers (money managers) that participate on our third-party Managed Accounts platforms (including Managed Account Select, Access, Marketplace, and Model Market Center) and our proprietary asset manager. The Senior Manager will work closely with internal partners and money managers on business planning, service and operations, and issue identification and resolution through the Money Manager Relations team box. Some specific functions include strategic communication, firm onboarding and offboarding, strategy adds and removals, firm changes through mergers and acquisitions.

Monitor the Schwab Manager Disclosure Document mailbox to ensure all disclosure documents received are processed in a timely manner.  Identify outdated disclosure documents older than 12 months; reach out to money managers and follow up with them until the updated document is submitted and processed in SMAC.Each manager must either certify that Schwab has their most current disclosure documents or submit an updated version to Schwab

What you’re good at:

The successful candidate must be energetic and enthusiastic about relationship management, product management, strategic problem solving and managed accounts. He/she/they will be a self-motivated, resulted oriented independent contributor. Key responsibilities include:

• Highly effective day-to-day management of money managers’ platform participation, including systems, processes, quality checks and communications. This includes ability to multi-task across procedures, testing and approvals for various workflows and interfaces.
• Execute a strong blend of relationship management, data analysis and critical thinking to further elevate the asset manager experience; problem solve operational and service matters to resolution
• Ensure processes and procedures supporting functions of money manager setup and ongoing management are maintained to minimize risk to the firm and drive efficiency, and seek opportunities for greater scale in platform maintenance
• Gather insights to understand client and internal partner needs to design and/or position asset manager engagement in more effective ways to evolve our practices and drive value for our clients
• Partner closely with internal team colleagues in the planning and execution of key strategic initiatives related to money manager and platform evolution, including planning and implementation
• Engage with internal stakeholders around the firm (e.g., operations and billing, client enterprise sales, service and client experience teams, legal and compliance), acting both as subject matter expert and change agent for better money manager and clients experiences and reduced risk to our overall firm

What you have

• Bachelor’s Degree required; MBA and/or equivalent post-MBA level experience preferred
• 5+ years of product management, product servicing and/or client experience and operations
• Very strong relationship building and partnerships skills
• High degree of comfort in a dynamic and fast-moving work environment
• Excellent project and process management skills, including attention to detail and the ability to multi-task and work efficiently (independently and with teams), to meet tight deadlines with minimal supervision
• Strong business judgment and analytical skills, who can problem solve as issues arise
• Strong understanding of key partner functions such as operations, sales and service, supervision, and compliance
• Robust communication skills, both written and verbal, with demonstrated ability of presenting to and persuading audiences
• Deep expertise in the landscape of the financial services industry, especially as it relates to asset management and managed accounts
• Successfully execute on multiple initiatives at the same time, autonomously, quickly, despite challenges, and with great attention to detail
• Solid user of PowerPoint and Excel