The Internal Audit Department (IAD) of The Charles Schwab Corporation provides independent and objective assessments to figure out whether all significant risks are identified and appropriately reported by management and risk functions to the Board and Executive Management, to evaluate whether risks are adequately controlled, and to challenge Executive Management to improve the efficiency of governance processes, risk management, and internal controls.
The Corporate Internal Audit team is seeking a Senior Specialist, Internal Audit, Risk Analytics/Modeling. The Corporate team is responsible for execution of audits over the firm’s corporate and risk management functions including model risk. We are hiring a quantitative specialist to perform testing as part of audit reviews of model development, governance and validation controls. This individual will contribute to the Corporate Internal Audit team. The candidate will need a good understanding of statistics and models in general. The role includes performing testing as part of audit reviews of various model types including: Capital Stress Testing (CST), Fraud, Anti-Money Laundering (AML), Machine Learning, Credit risk, Interest Rate risk, Margin risk, Investment risk, and Business Intelligence/Marketing.
What you’ll do:
Audit Execution:Assist with performing audit reviews of model development and validations following guidelines based on SR 11-7 Guidance on Model Risk Management, to include an assessment of model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environmentCommunicate work through formal model audit templates, reports, as well as through presentations to model owners and validation teamsWork effectively as a team member with other quantitative analysts at the companyEvaluate model performance monitoring reports, and conducting model annual reviewsParticipate in the planning and execution of internal audit assignments on models, ensuring work is performed in accordance with IAD methodology. Issues Identification: Based on the results of audit testing, identify and draft audit observations for review by the Internal Audit Manager/Senior Manager (and above levels) and subsequent debriefing with the key partners (typically VP-level and below).Issue Management and Validation: Conduct validation testing of the audit issue action plans completed by the business.Risk Assessment: Under the direct supervision of IAD Management, participate in the annual Risk Assessment process, including scheduling and participation in meetings with partners, and the scoring and documentation of risk ratings.Coaching: Provide support, mentoring, and feedback to audit team members throughout the audit. Provide assistance with onboarding and ongoing support to new team members.Administration/Training: Completion of firm-wide and departmental administration and training requirements.Other Initiatives/Special Projects: As needed, assist with special projects related to business operational improvement or internal team needs. What you have Demonstrated experience performing internal audits amongst a complex operational and regulatory environment.Ability to work as a member of a project team and cultivate a strong working relationship with external co-sourcing providers and internal lines of businesses.Working on or attained advanced degree in a quantitative field (economics, statistics, finance, mathematics, physics)Advanced skill with one or more analytical tools, such as SAS, R, Python, or MATLABStrong oral and written communication skillsExcellent people skillsUnderstanding of statistical concepts and predictive modeling fields Beginning exposure to model governance processes and regulatory requirements for large US banksExposure to model governance processes Options Apply for this jobApplyShareRefer a friendRefer Sorry the Share function is not working properly at this moment. Please refresh the page and try again later. Share on your newsfeed Why work for us?Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.
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