Wilmington - DE, DE4250L, 4250 Lancaster Pike, 19805
Debra Andrea Mandell
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.
The Compliance Testing & Monitoring Manager is responsible for assisting Bank Compliance by executing the testing and monitoring program to evaluate the effectiveness of internal controls that Schwab Banking and Trust has established to comply with applicable regulatory requirements for its trust products and operations.
The main business lines for the Schwab Banking and Trust operations are: personal trust services, collective investment funds, and business trust operations for employee benefit plans.
What you’ll do:
- Conduct compliance testing and monitoring (reviews) to periodically evaluate the effectiveness of the internal controls the Bank has established to comply with applicable regulatory requirements for its trust products and operations.
- Assist in executing the annual testing and monitoring plan for trust products and operations. Develop scope and objectives that include the regulatory requirements within the Compliance Risk Assessment.
- Complete reviews such that they comply with Corporate Testing Standards and Bank Compliance Testing and Monitoring procedures.
- Complete reviews according to planned timelines, and adequately document the evaluation of the effectiveness of the internal controls.
- Maintain a strong working knowledge of federal and/or state fiduciary compliance regulatory requirements applicable to the assigned areas of the review.
- Maintain a working knowledge of OCC Exam Trust Procedures which include, but not limited to: Retirement Plan Services, Collective Investment Funds, Custody Services and Conflicts of Interest (collectively “Regulatory Exam Procedures”). Complete testing and monitoring that incorporates, as applicable, the Regulatory Exam Procedures.
- Maintain a working knowledge of Department of Labor’s ERISA requirement.
- Maintain a working knowledge of Delaware and Nevada State requirements that pertains to fiduciary compliance regulatory requirements.
- During testing and monitoring, perform transactional testing and/or test of controls to determine the effectiveness of the controls in place to comply with Bank policy and applicable regulatory requirements.
- For potential issues identified during reviews, confirm the accuracy of findings and document work papers to adequately support issues. Work with Senior Manager to recommend potential corrective action plans. Discuss potential corrective action plans with business partners and assist in obtaining management action plans.
- For issues identified where controls can be enhanced to ensure compliance with Bank Policy or regulatory requirements, prepare written observations which can be incorporated into the final report. Assist Senior Manager in drafting standard and special purpose reports.
- Assist in ensuring compliance issues identified during testing and monitoring reviews are followed-up on, and corrective action plans are properly executed to comply with Bank policy or applicable regulatory requirements
What you have:
- 3-5 years of professional work experience in Trust Services
- 3-5 years of experience in Trust Compliance, Internal Audit or as a Regulatory Examiner
- Strong knowledge of federal and/or state fiduciary compliance regulatory requirements
- Excellent attention to detail and the ability to work independently
- Strong written and oral communication skills
- Sound organization and prioritization skills
- Experience with MS Office products, with intermediate level experience using Excel
- Ability to travel 10%-25%
- Bachelor’s degree or equivalent experience
The following qualifications are preferred:
- Testing and Monitoring experience
- Risk Management experience
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. 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.
||English - spoken
|Current Licenses / Certifications:
|Relevant Work Experience:
||Internal Audit, Financial Services-2-5 yrs, Regulatory, Banking-2-5 yrs, Compliance
|Position Located In:
||NV - Henderson, DE - Wilmington
Activation Date: Friday, March 23, 2018
Expiration Date: Saturday, April 21, 2018