Director, Model Validation

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Job description

Your opportunity

Director, Model Validation

Our Opportunity

Model Risk Oversight is a strategic function within the broader Corporate Risk Management umbrella to provide oversight over a broad spectrum of models that create innovative products for our clients, and prudently manage our financial risk using sophisticated quantitative approaches. The Model Risk Oversight team plays a key role in identifying, reviewing, and monitoring all the models at the company.

We are hiring a director level people leader to lead a team of quantitative analysts who are responsible for conducting model validations and make additional contributions to the Model Risk Oversight team. This Director will need strong quantitative aptitude and a good understanding of how financial models are used in business context to effectively challenge the choice of methods and assumptions. Prior experience with Asset Liability Management, Market Risk or Liquidity Risk is desirable. The job responsibilities will include, but not be limited to:

• Performing and supervising 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 ;
• Explaining and defending the outcomes of model governance activities to other internal review groups and regulatory agencies.
• Collaborating effectively with model owners to identify and drive practical resolutions for gaps in model risk management, representing MRO at business-line working groups.

What you have

Required skills and qualifications:

• Advanced degree in a quantitative discipline (Statistics, Economics, Finance, Mathematics, Physics, or Engineering)
• 7+ years of work experience with model development or model validation
• Extensive experience with 3rd party ALM applications, such as Polypaths, Bancware or QRM
• In-depth understanding of fixed income instruments, interest rate risk modeling and prepayment modeling
• Advanced skill with one or more analytics tools, such as R, Python, SQL, MATLAB, or VBA

Preferred skills and qualifications:

• Experience with leading a team of quantitative analysts
• Experience in banking or insurance with an emphasis on ALM (net interest income and balance sheet forecast), fixed income analytics, and market risk management
• CFA and/or FRM and/or CTP certification.
• Knowledge of model governance processes and regulatory requirements for large US banks.
• Strong oral and written communication skills, and excellent interpersonal skills

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

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