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Type of Role: InvestmentsResearch

Experience Level: VP/Principal/Director

Location: Boston, CaliforniaMassachusetts

Salary: $155K - $309K

Charles Schwab Corporation is an American multinational financial services company. It offers banking, commercial banking, investing and related services including consulting, and wealth management advisory services to both retail and institutional clients. It has over 400 branches, primarily in financial centers in the United States and the United Kingdom. It ranks tenth on the list of largest banks in the United States by assets. As of December 31, 2022, it had $7.05 trillion in client assets, 33.8 million active brokerage accounts, 2.4 million corporate retirement plan participants, and 1.7 million banking accounts. It also offers a donor advised fund for clients seeking to donate securities. It was founded in San Francisco, California, and is headquartered in Westlake, Texas.

Develop, deliver, approve, and support advanced regulatory-compliant Asset and Liability Management models and stress test models, concentrated on non-maturity deposits products. Provide modeling guidance to junior team members. Perform computational, statistical, and econometric analyses. Document the rationale and supporting evidence for model development. Document model limitations and, on an on-going basis, test the model performance to ensure that the model limitations do not adversely impact model accuracy. Utilize project management and communication skills to ensure project deliverables are understood and achievable. Support risk committees, auditors, regulators, and senior management regarding model risk and its potential effects on the risk profile to the organization.

Position supervises 2 Model Developers, Risk Analytics.

Position allows for partial remote work (2-3 times in the office). Must live within reasonable commuting distance. Reports to company office in Boston, MA. Subject to Schwab’s internal approach to workplace flexibility.

What you have

Position requires Bachelor’s or Master’s degree in Economics, Statistics, Financial Engineering, Computational Mathematics, Finance, or related field and progressive post-bachelor’s related experience (7 years with Bachelor’s or 5 years with Master’s) which must include some experience in each of the following skills: Financial risk modeling, specifically client behavior models for deposits with a focus on portfolio optimization across equity, fixed income, and money market alternatives; Full stack quantitative model development experience (data cleaning, developing econometric models, writing technical documentation, deploying models in production environment, and addressing questions from Model Risk Management, Internal Audit, and Regulators); Capital Stress Testing and risk model regulatory requirements; Statistical and probabilistic concepts and modeling techniques in multivariate linear regression, panel data regression, time series, logistic regression, and machine learning models; Programming and data visualization in statistical software(Python, R, and RMarkdown) and coding in SQL related database software; Asset Liability Management Software (PolyPaths or QRM); and Deriving Interest Rate Risk metrics including economic value of equity, net interest income, effective duration, and portfolio’s weighted average life, to measure exposure to the interest rate risk.

Charles Schwab & Company, Inc. seeks Director, Risk Analytics/Modeling in Boston, MA.

 

What’s in it for you

At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.

We offer a competitive benefits package that takes care of the whole you – both today and in the future:

  • 401(k) with company match and Employee stock purchase plan
  • Paid time for vacation, volunteering, and 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