Sr Manager – Business Strategy and Data Science [Cash Strategy, Deposits, and Payments]

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Job ID:
1207-31448
Job Category:
Product Development
Relevant Work Experience:
Analyst/Strategy-2-5 yrs, Product Development-2-5 yrs
Current Licenses / Certifications:
None
Position Located In:
CA - San Francisco
Education:
BA/BS
Job Type:
Full Time

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 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.

Our Culture:  https://www.youtube.com/watch?v=Qkic76FWat8

Our Opportunity:

 

The Cash Strategy, Deposits and Payments team is a strategy and integration group responsible for delivering high impact business strategy, competitive analysis and new product innovation for Charles Schwab Bank and for the brokerage Charles Schwab and Co. Inc., to serve our client’s cash and banking needs. 

 

An individual in this role will have the opportunity to gain substantial exposure and develop a strong reputation by working on strategic decisions of the firm’s CEO and most senior executives involving the analysis of data on cash. This role is unique in that it offers the opportunity to work on strategic projects that have a firm-wide impact while at the same time building subject matter expertise and industry knowledge in both the banking and brokerage industries. 

 

A senior manager’s responsibility could range from driving a specific work-stream supporting strategy development to owning project delivery from inception to completion.  Project work could include deposit pricing analysis, cash balance forecasting, regulatory analysis, responding to regulators’ requests, customer analysis and competitive research, economic and market analysis, business case development for new product/business opportunity, etc. The project work largely will involve analyzing and interpreting, for senior management of Schwab Bank and brokerage, data related to cash deposit products, cash strategy, and customer behavior. 

 

Individuals must have superior partnering skills as work typically requires a coordinated effort with team members and cross-functional business partners.  Members of the team who are highly successful demonstrate the ability to think creatively, develop recommendations that are data driven/fact-based, deliver results in a matrixed organization and have the flexibility and maturity to handle ambiguous situations.  Individuals with a bias for action and the ability to overcome obstacles to successfully execute on multiple projects simultaneously tend to perform well in the role.  

What you will learn: 

  • Use econometric/time series analysis to create both short-term (1-6 months) and multi-year forecasts, based on internal historical data and based on our corporate macroeconomic forecast scenarios, of key cash balances, such as Bank Sweep or Schwab One Interest, and the sensitivity of those balances to interest rate movements and stock market activity
  • Use discrete choice analysis to analyze cash product behavior such as checking account closure propensity and its causes
  • Write SQL queries of Schwab’s data warehouse to get data needed to analyze deposit behavior, size a new product opportunity, or size the amount of client cash being held in specific segments.  Then, conduct the strategic analysis of the decision in question, develop a recommendation, and prepare Excel and Powerpoint documents to explain the decision
  • Build a financial model to show the financial impact of key management decisions (e.g. deposit pricing, changes to Schwab Bank growth strategy) on Net Interest Revenue
  • Identify creative use of statistical or machine learning tools to apply to various Schwab Bank strategic issuesTake on a strategic analysis end to end [identify the problem, develop alternatives, get the data needed to analyze the problem, work with the stakeholders to understand their needs and perspectives, do the analytics to analyze the problem, present the results for feedback from the stakeholders] 
    • This is a team where the faster you can think and produce results, and the more creative you are, the more you can do.  You will have a baseline set of responsibilities, and then you will have the opportunity to think beyond those basic responsibilities to add more value to the firm using your advanced analytics skills, and be recognized for that contribution by management 

What you have:

This position combines data science analytics with general business strategy.  The best candidates will have hybrid backgrounds, with strengths in both areas, but we would rather hire a data scientist with more limited experience on the business side, than a business strategist with more limited experience on the data side.

 

Education:

•            Bachelor's degree and preferred, a post-grad degree or MBA; Ph.d, a plus (our workgroup is full of Ph.D.’s), but is not required.

•            Training or background in applied mathematics, statistics, finance, economics, computer science, or other quantitative research discipline

 

Experience on the data science side:

This position interacts with Schwab’s advanced analytics teams as well as Schwab’s finance and strategy teams.  This position is expected to help lead the quantitative modeling of strategy surrounding bank and brokerage cash.  Skill requirements include:

•            Statistics, statistical and/or machine learning programming experience, and the ability to apply econometrics and/or data science tools where appropriate.  Experience and facility with univariate and multivariate time series analysis would be useful for contributing to deposit pricing and cash balance forecasting work.

•            SQL programming expertise, as the senior manager will be expected to source their own data relating to deposit products directly from Schwab’s data warehouse, with help from our team

•            Familiarity with data visualization or business intelligence tools a plus

Note:   Big data experience will also be considered a plus, though these skills will not be as immediately useful in this position at the start, compared to the core skills of statistics and SQL programming.   

What you’ll get: 

  • Everyday Wellness: Healthy Rewards, Onsite Fitness Classes, Healthy Choices, Wellness Champions
  • Financial Fitness: 401k Match, Employee Discounts, Personalized advice, Brokerage discounts
  • Work/Life Balance: Sabbatical, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer
  • 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

Charles Schwab & Co., Inc. will consider for employment qualified applicants with criminal histories consistent with San Francisco ordinance 17-14 and federal law and regulations applicable to Charles Schwab. 

 

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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.


Position Located In:CA - San Francisco
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Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

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.

The Charles Schwab Corporation provides a full range of securities, brokerage, banking, money management, and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (“Schwab”), Member SIPC , offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides deposit and lending services and products.