Charles Schwab Manager, Risk Analytics & Modeling in Chicago, Illinois

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:

Through Clients’ Eyes:

Our Opportunity:

The Market and Investment Risk Management (MIRM) team is responsible for the adequacy of the firm’s credit policies. Policies that address credit risk are developed throughout the firm and reviewed with Market and Investment Risk to ensure regulatory compliance, consistency, and accountability. The Risk Analytics team falls within the Market and Investment Risk function under the broader Corporate Risk Management organization. The team’s primary functions involve quantitative research and modeling of market and credit risks, covering a wide range of products including: mortgage loans, home equity lines of credit, margin, deposit and fixed income businesses.

In this role, you will develop models related to retail credit loss forecasting and client depositor behavior. You will play a crucial role in applying quantitative analysis to support the ongoing interest rate and credit risk model development efforts. You will also drive new model initiatives as well as providing enhancements and support to existing models.

What you’ll do:

  • Develop quantitative models and apply quantitative analysis in support of operational loss model development, as well as interest rate and credit risk model development

  • Apply statistical/econometric techniques such as GLM, Monte Carlo simulation, Distribution fitting and extreme value modeling

  • Demonstrate knowledge of regulatory guidelines such as DFAST, CCAR, Advanced Approaches, Basel Supervisory Recommendations will be a plus

  • Document rationale and supporting evidence for models

  • Document model limitations and, on an on-going basis, test the models to ensure that the model limitations do not adversely impact model accuracy

  • Utilize project management and communication skills to ensure project deliverables are understood and achievable

What you have:

  • Master's degree in one of the following fields is required: finance, economics, financial engineering, statistics, applied and computational mathematics, and other disciplines in physical sciences or engineering that require heavy use of computational mathematics and/or statistical techniques

  • Ability to leverage quantitative and analytical methods and techniques, and use technology to query databases

  • Familiar with best practices related to the development of advanced quantitative models, including source code management, input variable stress analysis and overall model validation techniques.

  • 2-4 years of experience

  • Strong quantitative and appropriate coding skills in R (statistical package)

  • Strong technical skills with experience using relational databases

  • Strong communication skills with ability to translate mathematical and statistical concepts into easily understood language

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

Learn more about Life@Schwab at" .

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: IL - Chicago