Sr Manager, Banking and Trust Services Third Party Management

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 locations. Applicants must be currently authorized to work in the United States on a full-time basis without employer sponsorship.

The Banking and Trust Services (BTS) Third Party Management - Sr. Manager is responsible for executing and maturing BTS’ Third-Party Vendor Management Digital Asset Program oversight.  Elements of the program will include monitoring and ensuring contractual commitments are fulfilled, monitor service delivery and appropriately assess risk, service issues, and/or regulatory compliance.  In order to meet regulatory guidance, the Sr. Manager must ensure that the framework is in place to meet the needs of the business, satisfy regulatory guidance and effectively identify, address, and reduce new or existing third-party vendor risks to the business.  Key areas of focus include BTS Vendor Digital Asset Oversight program development and documentation, process improvement, and regulatory exam preparedness and response.  The Oversight Sr. Manager will accomplish these objectives through building key partnerships, great communication, and effective project management.  The Sr. Manager BTS Third Party Oversight Manager is a first line of defense position for BTS and assures compliance with all corporate and Bank policies and procedures, as well as all applicable state and federal banking regulations in the context of their responsibilities.

Manage Digital Asset Vendor Oversight Program and Documentation

• Assist in the execution of a Digital Asset Vendor Oversight plan.
• Capture changes to the BTS Program processes, methodologies and guiding principles in the program document and ensure all information is aligned with all evolving regulatory guidance.
• Drive completion of third-party planning, due diligence, risk assessments, negotiations, and termination activities as outlined in the BTS Outsourcing and Oversight Management Program
• Work with business owners and subject matter experts on issues and escalations
• Drive completion of all related Digital Asset third party ongoing monitoring activities as outlined in the Bank Outsourcing and Oversight Management Program
• Assist with the risk assessment and the due diligence process for new third parties
• Ability to work on new contract proposals, contract renewals, amendments and work orders if needed.

Process Improvement

• Work with the BTS third party management team to ensure timely updates to procedures.
• Execute a risk-based engagement and monitoring consistent with the third-party outsourcing program, and Enterprise Risk Management Policies.
• Develop risk-based processes and methodologies in accordance with Banking and Trust Services policy, programs, standards and expectations
• Produce robust governance and oversight reporting consistent with risk taxonomy, executive and program requirements
• Define and implement new methods for ensuring standard definition and adherence to service level objectives for inclusion in third party agreements
• Assess third party ongoing financial and commercial viability and identify associated risks
• Develop mitigation strategies and plans as needed
• Resolve relationship issues as they arise
• Further enhance the methodologies for identifying, tracking, and ongoing maintenance of Digital Asset third parties that perform functions for BTS.
• Develop reporting process to capture news and other publicly available alerts from third party management tool on BTS’ Digital Asset third parties.
• Contribute to ongoing departmental third-party outsourcing program development efforts to ensure continuous process improvement and efficiencies

Build strong relationships with external and internal business partners to achieve goals

• Partner with various departments such as legal, product management, compliance and CS&Co’s third-party outsourcing team to ensure successful negotiation of contracts and to facilitate ongoing monitoring
• Build strong working relationships with the inter-affiliate service providers as well as the external third-party account management teams
• Participate in meetings with the BTS Management team for escalated third party issues

Provide representation as needed for Schwab BTS projects and audits

• Participate, track and oversee projects that impact third parties
• Coordinate meetings between the project team and the third party when needed
• Work with Internal Audit for scheduled audits that involve the services provided by external third parties
• Ensure robust standard and special purpose reports are designed to provide the Board, BTS Management and appropriate committees with information to evaluate risk, compliance and performance of Digital Asset Third Parties.
• Support periodic updates to the Board, Banking and Trust Services Management and appropriate committees on the status of the testing and monitoring program.
• Assist with federal banking regulatory exams, including advance preparation and coordination of requested information.

What you have

• Bachelor’s Degree required; Advanced degree preferred.
• 7+ years experience negotiating business to business agreements in the financial services industry
• Knowledge of cryptocurrency and the functions of Digital Assets
• Expertise in building relationships to work across multiple departments, including key business stakeholders and attorneys to negotiate agreements
• Ability to work in a fast-paced team environment. Requires excellent time management skills, managing multiple competing priorities, and identifying and implementing solutions to address critical needs
• Strong analytical skills, ability to research problems, determine root causes and solutions
• Excellent written and verbal communication, including creation of written executive summaries and PowerPoint presentations
• Ability to translate business needs into business requirements, and then implement

In addition to the salary range, this role is also eligible for bonus or incentive opportunities.

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