Senior Specialist Risk Analytics

Job Summary:

You will contribute to the Corporate Internal Audit team at Charles Schwab by performing audit reviews on model development, governance, and validation controls. The role involves auditing various model types including Capital Stress Testing (CST), Fraud, Anti-Money Laundering (AML), Machine Learning, Credit Risk, Interest Rate Risk, Margin Risk, Investment Risk, and Business Intelligence/Marketing. The candidate will work with quantitative analysts to perform testing and assessments of model performance, governance, and risk controls in a highly regulated environment.

Responsibilities:

• Assist in performing audit reviews of model development and validations, following SR 11-7 Guidance on Model Risk Management.
• Evaluate model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environment.
• Communicate findings through formal model audit templates, reports, and presentations to model owners and validation teams.
• Review model performance monitoring reports and conduct model annual reviews.
• Participate in audit planning and execution, ensuring compliance with IAD methodology.
• Identify audit issues, draft observations for review, and engage in debriefing sessions with key partners.
• Conduct validation testing of audit issue action plans completed by the business.
• Participate in the annual Risk Assessment process, including risk rating documentation and meetings with partners.
• Provide mentoring, support, and feedback to audit team members, including assistance with onboarding new team members.
• Complete firm-wide and departmental administration and training requirements.
• Assist with special projects related to business operational improvement or internal team needs as needed.

Qualifications and Experience:

• Experience in performing internal audits within a complex operational and regulatory environment.
• Ability to work effectively as part of a team and collaborate with both internal business lines and external co-sourcing providers.
• Advanced degree (or progress towards one) in a quantitative field such as economics, statistics, finance, mathematics, or physics.
• Proficiency in analytical tools such as SAS, R, Python, or MATLAB.
• Strong oral and written communication skills.
• Excellent interpersonal skills with the ability to work collaboratively with stakeholders.
• Understanding of statistical concepts and predictive modeling techniques.
• Familiarity with model governance processes and regulatory requirements for large US banks.

Benefits:

• 401(k) with company match and Employee Stock Purchase Plan.
• Paid time for vacation, volunteering, and a 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.

About Company:

Charles Schwab’s Internal Audit Department provides independent and objective assessments to identify and manage significant risks across the firm. The Corporate Internal Audit team conducts audits of the company’s corporate and risk management functions, including model risk. This role offers an opportunity to contribute to Schwab’s risk management and internal controls processes, ensuring compliance and driving improvements across the organization.