Charles Schwab Managing Director, Bank Deposit Operations in Phoenix, Arizona
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.
Banking & Trust Services (BTS) is the business enterprise within Schwab overseeing Charles Schwab Bank and the Charles Schwab trust companies. The BTS organization offers deposit, loan and trust products to Schwab clients who are looking for holistic wealth management solutions that complement their brokerage activities. The integrated banking and brokerage services represent the strong value proposition we offer our clients.
Charles Schwab Bank is a full-service bank that offers a range of competitive deposit and lending products. In 2003, we launched Schwab Bank as a bank for investors, and it has grown to be the 13th largest bank in the United States. Our goal is to offer a banking experience that complements the Schwab brokerage capabilities, providing banking products tailored to meet our clients’ unique needs as investors, all in one convenient location. Consistent with the brand, we offer exceptional client experience.
The Managing Director – Bank Deposit Operations (MD-BDO) is responsible for managing and overseeing the daily Deposit Operations, OCL and duties as assigned of Charles Schwab Bank (“Bank”). The MD-BDO is responsible for developing highly engaged, effective teams that meet the Bank’s business objectives, deliver a premier client experience, and demonstrate operational expertise. The MD-BDO will provide leadership and oversight for a staff charged with maintaining daily bank operations including account opening and maintenance, transaction processing, exception items, reporting, regulatory compliance, reconciliations, and system monitoring. The MD-BDO plays a key role in the accuracy, efficiency, and quality of operations, including compliance with all Bank policies and applicable state and federal banking regulations.
Charles Schwab Bank follows the three lines of defense model of risk governance. The Bank Operations teams are in the first line of defense, responsible for effectively identifying, mitigating, and managing risk consistent with the Bank’s risk appetite in order to achieve the Bank’s business objectives. The Managing Director – Bank Deposit Operations is a first line of defense position for Charles Schwab Bank and assures compliance with all Bank policies and procedures, as well as all applicable state and federal banking regulations in the context of their responsibilities.
What you’ll do:
Operations / Regulatory Processing: Lead and oversee the day to day operations of the Bank, ensuring accuracy, timeliness, quality, effectiveness of internal controls and compliance of all transactions and key processes.
Oversee staff functions in all operational areas including account open and maintenance, transaction processing, exception processing (debit, wires, checks, cash, ACH), regulatory compliance including ACH / NACHA compliance, exceptions processing, reconciliations, reporting, asset custody and management, and system monitoring
Ensure effective regulatory processing, including escheatment, B-Notices, year-end tax reporting, and Regulation D compliance
Through high quality operations and process execution, delivery a premier, client focused experience in the delivery of our products and services
Document, execute, and report on oversight and supervision activities in coordination with the Managing Director – Bank Oversight
including key operational metrics and areas of risk to support strategic planning and decision making
People Management: Provide leadership and supervision to multiple teams of operations professionals, supporting Deposit and OCL products
Hire, train, coach, and provide annual written performance feedback to all staff
Arrange for ongoing subject matter and regulatory training to ensure staff is current with regulatory issues and industry best practices
Lead annual employee engagement evaluations, reviews, and action plans. Consistently achieve high employee engagement scores
Ensure staff compliance with Bank policies and procedures, state and federal regulations
Effectively attract, grow and retain talent in support department and firm objectives
23B/Vendor Management : Business Owner for 23B and Vendor relationships critical to the daily operations of the Bank
Identify and evaluate 23B and Vendor performance against pre-defined SLA
Approve and monitor corrective action plans for SLA misses
Influence 23B and Vendor partners towards furthering the goals of the Bank
Risk Management / Regulatory Compliance: As a leader in a First Line Unit, ensure processes are appropriately controlled, measured, and reported upon, effectively managing overall risk consistent with the Bank’s risk appetite
Ensure controls are appropriate, effective, and documented, with KRIs attached to key controls to support ongoing risk monitoring activities
Support the firm’s enterprise risk management activities, including risk reporting and modeling
Continually update the Risk and Controls Self-Assessment (RCSA) in order to maintain a strong control environment
Design processes and procedures to comply with all laws, regulations, and Bank policies, and stay current on changes to laws and regulations to ensure continued compliance
Reporting: Provide regular and ad-hoc reporting to Bank management and risk management committees, including key operational metrics, updates on business objectives, current and emerging risks and mitigation activities, and operational strategy.
Standard monthly reporting to Management Committee, Bank Operational Risk Oversight Committee, and the generation of operational reviews
Project Support: Represent Bank operations on project management teams and to the firm as a whole to influence decision making and advocate for the Bank’s goals and objectives.
Define business requirements and apply business knowledge to work with technology staff in obtaining Bank system enhancements
Assess project impact on operational process, implementation, and process flow and ensure legal & regulatory compliance
What you have:
10+ years’ experience in bank operations
5 years managing exempt and non-exempt employees
Knowledge of bank systems and financial regulations
Strong analytical skills with the ability to research problems, determine root causes, and develop solutions
Demonstrated ability to lead, coach, and develop team members
Ability to attract and retain talent
Excellent interpersonal, verbal and written communication skills
Proven record of tracking and measuring results.
Ability to prioritize and manage multiple projects
Strong client focus
Bachelor’s degree or equivalent work experience required
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 http://www.aboutschwab.com/careers/lifeatschwab/" .
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: AZ - Phoenix