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Your opportunity

We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location(s).

At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

Trading Risk Analytics and Reporting is a strategic function within the broader Trading Operations umbrella, overseeing a spectrum of Trading models to create innovative products for our clients, and to prudently manage our financial risk using sophisticated quantitative approaches. The team plays a key role in assessing, quantifying and managing risk for the 1st Line of Defense.

In this role, you will have the opportunity to contribute towards the evolution of the Trading Risk Analytics and Reporting team. Some of the responsibilities include quantitative analysis of margin and option portfolio exposures, including: i) evaluating margin risk according to margin lending policy and ii) applying statistical techniques to quantify margin risk for reporting to management and regulators. You will also be developing models and establishing governance around models reviewed by regulatory agencies including the OCC, FINRA, and the Federal Reserve. **The role will be based in Chicago, IL** .

The job responsibilities will include, but are not limited to:

+ Reading, analyzing, and interpreting government and industry standards for Margin Loan portfolios and converting them to functional models.

+ Studying, analyzing and utilizing large data sets.

+ Contributing to an Agile software team to deliver results iteratively.

+ Presenting approaches to internal management as well as auditors and consultants.

+ Serving as a liaison between Trader, Corporate Risk, Model Risk Oversight, Technology, and other business partners to achieve desired objectives.

+ Drive the development of margin methodologies, stress testing models, and risk analytics to ensure accurate and timely margin calculations.

+ Providing model documentation for internal and external verification.

+ Supporting 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.

+ Explaining and defending the outcomes of model governance activities to other internal review groups and regulatory agencies.

What you have

Required Qualifications:

+ Master’s degree in a quantitative discipline

+ 10+ years of work experience with model development or model validation related to models used in trading and investment advice processes.

+ Experience in option and equity trading models and brokerage margin policies, particularly Black Scholes, Binomial Option Models, Value at Risk techniques, Futures SPAN margin, Monte Carlo methods, Regression.

+ Model development experience in a regulated financial institution related to trading models.

+ Proficiency with Java programming language, including a deep understanding of object-oriented concepts and extensive experience in using Java libraries and frameworks.

+ Advanced skill with analytical tools, such as SAS, R, MATLAB, or Python.

+ Knowledge of SR 11-7 regulatory guidance and corresponding model governance requirements for banks.

Preferred Qualifications:

+ PhD in a quantitative discipline.

+ Strong oral and written communication skills.

+ Strong SQL experience and the ability to develop, tune and debug complex SQL code.

+ Experience in big data platform.

+ Web programming

In addition to the salary range, this role is also eligible for bonus or incentive opportunities.

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

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

Schwab is an affirmative action employer, focused on employing and advancing in employment, qualified women, racial and ethnic minorities, protected veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at [email protected] or call 800-275-1281.