Charles Schwab Model Validation Analyst in Chicago, Illinois
Chicago - IL, IL150SW, 150 S Wacker Dr, 60606-4111
We believe that , when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.
As a company, we were established by Chuck at http://www.aboutschwab.com/about/leadership/charles_schwab over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.
Model Risk Management is a strategic function within the broader Corporate Risk Management umbrella that utilizes a broad spectrum of models to create innovative products for our clients, and to prudently manage our financial risk using sophisticated quantitative approaches. The Model Risk Management team plays a key role in identifying, reviewing, and monitoring all the models at the company.
What you’ll do:
We are looking for a validation analyst to play a critical part in the growing responsibilities of the Model Risk Management team. The quantitative analyst will assist in several model governance activities in business areas including regulatory capital stress testing (CCAR/DFAST and Advanced Approaches). The independent model validations include reviewing model documentation for completeness, assessing the suitability of models for their intended purposes, performing stress testing and other sensitivity analysis, reviewing data inputs and outputs, and making recommendations for improvements. The model validator will need strong quantitative aptitude and a good understanding of how financial models are used in business and regulatory contexts.
The job responsibilities will include, but not be limited to:
Performing model validations following guidelines based on SR 11-7, to include an assessment of model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environment;
Presenting work through formal model validation reports, as well as through presentations to model owners and senior management;
Working effectively as a team member with other quantitative analysts at the company, as well as with external consultants;
Evaluating model performance monitoring reports, and conducting model annual reviews;
Maintaining model inventory
This will be an individual contributor role.
What you have:
MA/MS in a quantitative discipline and 1-3 years of closely related work experience,
Some familiarity with financial predictive modeling disciplines, such as consumer behavioral modeling, econometric forecasting, Monte Carlo analysis, or decision science.
Advanced skills with analytical tools, such as SAS, R, MATLAB, Python, or EViews.
Experience with financial data providers, such as FactSet, Bloomberg, Thomson Reuters or Capital IQ is a plus.
Experience associated with development, use, or validation of stress testing models (CCAR or DFAST) is desirable.
Strong oral and written communication skills are essential.
What you’ll get:
Comprehensive Compensation and Benefits package
Financial Health: 401k Match, Employee Stock Purchase Plan, Employee Discounts, Personalized advice, Brokerage discounts
Work/Life Balance: Sabbatical, Paid Parental Leave, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer, Employee Matching Gifts Program
Everyday Wellness: Health and Lifestyle Wellness Rewards, Onsite Fitness Classes, Healthy Food Choices, Wellness Champions
Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
Not just a job, but a career, with an opportunity to do the best work of your life
Learn more about Life@Schwab at http://www.aboutschwab.com/careers/lifeatschwab/" .
Charles Schwab & Co., Inc. is an equal opportunity and affirmative action employer committed to diversifying its workforce. It is Schwab's policy to provide equal employment opportunities to all employees and applicants without regard to race, color, religion, sex (including pregnancy, childbirth, breastfeeding, or related medical conditions), gender identity or expression, national origin, ancestry, age, disability, legally protected medical condition, genetic information, marital status, sexual orientation, protected veteran status, military status, citizenship status or any other status that is protected by law. Schwab also does not discriminate against applicants or employees because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. At Schwab, we believe that every employee, through their diverse abilities and experiences, can contribute to our growth, innovation and client loyalty. We embrace diversity and are committed to providing equal opportunity to all employees and applicants. If you have a disability, and require reasonable accommodations in the application process, call Human Resources at 800-725-3535. We will be happy to assist you. Schwab will only share your accommodation request with those individuals who have a specific need to know. The request for an accommodation will not affect Schwab's hiring decisions. All other submissions should be performed online.
Relocation Offered?: No
Work Schedule: Days
Languages: English - spoken
Current Licenses / Certifications: None
Relevant Work Experience: Analyst/Strategy-2-5 yrs, Analyst/Strategy-less than 2 yrs, Financial Services-less than 2 yrs, Financial Services-2-5 yrs
Position Located In: IL - Chicago
Job Type: Full Time
Activation Date: Tuesday, April 10, 2018
Expiration Date: Saturday, June 30, 2018