Model Validation Analyst

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Job ID:
20170702-3408
Job Category:
Risk Management
Relevant Work Experience:
Risk Analysis
Current Licenses / Certifications:
None
Position Located In:
IL - Chicago, TX - Westlake
Education:
MA/MS/MBA
Job Type:
Full Time
Description:

Chicago - IL, IL150SW, 150 S Wacker Dr, 60606-4111
Julie Rulis
20170702-3408

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 Opportunity:

Charles Schwab has been a leader in financial services for over four decades, working to make investing more affordable, accessible and understandable to all. Driven by our purpose to champion every client’s goals with passion and integrity, we’re committed to providing an environment that respects and appreciates the diversity of our employees, our clients, and the communities we serve. Our goal, as seen through clients' eyes, is that Schwab continuously improves on being a premier financial service provider through best in class service, technology, products, people and advice.

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.

As a Model Validation Analyst you will play a key role in the growing responsibilities of the Model Risk Management team. You 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. You will need to demonstrate a strong quantitative aptitude and a good understanding of how financial models are used in business and regulatory contexts.

What you’ll do:

  • Perform 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;
  • Work effectively as a team member with other Quantitative Analysts at the company, as well as with external consultants;
  • Evaluate model performance monitoring reports, and conducting model annual reviews;
  • Maintain model inventory

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 the 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.


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.


Job Specifications
Relocation Offered?: No
Work Schedule: Days
Languages: English - spoken
Current Licenses / Certifications: None
Relevant Work Experience: Risk Analysis
Position Located In: IL - Chicago, TX - Westlake
Education: MA/MS/MBA
Job Type: Full Time

Category:Risk Management
Activation Date: Wednesday, July 19, 2017
Expiration Date: Friday, September 1, 2017
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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.