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.
The mission of Charles Schwab Trust Bank (CSTB) is to bring together expertise and resources to help deliver the best trust and custody services for Schwab Retirement Plan Services, independent recordkeepers and investment advisors through offering a broad range of investments, technology, products, and services that meet the needs of retirement plan providers and the participants they serve. The CSTB Specialty Products team is responsible for the administration and oversight of the Charles Schwab Trust Bank Collective Trust Funds, Automated Rollover IRA, Employer Stock and Regulatory Relations.
The Specialty Products and Regulatory Relations Team Manager will serve as the product owner of, and be accountable for all associated activities for, the CSTB IRA Auto Rollover product. The Manager will also have accountability for and provide oversight to additional specialty products supported by the team (ex. CTFs, Employer Stock, Proxies, etc.) as well as serving as a liaison between CSTB and its regulators. The Manager will ensure that all oversight and governance activities align with CSTB policies and procedures, as well as with all applicable state and federal banking and other regulations. The position requires strong product ownership and high levels of accountability. A successful candidate must possess excellent interpersonal skills, attention to detail, ability to strategize, and a talent to influence others in addition to expertise working in trust / custody environments, the retirement industry, and financial services regulatory matters.
Key Responsibilities:
Administration and oversight of the CSTB Automatic Rollover IRA product including:Annual Required Minimum Distribution processingAnnual state escheatment – tracking data, determination of eligibility and directing all related activitiesMaintain and monitor ongoing product metricsBeing current on regulations and implementing needed enhancementsPreparing periodic reports and supporting materials for the Auto Rollover IRA product for management as well as for presentation to various CSTB governance committeesDeveloping and maintaining formal written policies and procedures that are compliant with state and federal regulations and other regulatory guidelinesResponding to internal and external inquiries, including those regulatory in nature, as a Subject Matter ExpertMonitoring vendors, business partners and teams responsible for servicing the Auto IRA Rollover product and ensuring all SLAs and deadlines are metCollaborating with Business Partners and others to research any issues that arise and develop customer focused solutionsAssist with administration and oversight of the CSTB CTFs and related activities, including daily, weekly, and monthly monitoring and reconciliation activities and approvals, review and monitoring of account opening documentation, vendor oversight and assistanceAssist with providing oversight and administrative support for proxy voting and monitoring of employer securities held in Employee Benefit Plans at CSTBAssist with completion of regulatory reporting and filings, for example: 13H, 13F, 13G, Form 5500, and others as needed, and monitor to ensure all deadlines are metAssist with all internal and external audits for CSTB and the Specialty Products team; gather and provide documentation within required timeframes and respond to inquiries, as neededMaintain legal documents and contracts library for the CSTB Specialty Products Team What you haveTo ensure that we fulfill our promise of “challenging the status quo,” this role has specific qualifications that successful candidates should have.
Required Qualifications:
Bachelor’s degree or equivalent experience is required5+ years of financial services industry experience (brokerage and bank preferred)5+ years of experience providing trust/custody and/or recordkeeping services for retirement plansExcellent knowledge of regulatory environment and associated rules governing qualified retirement plans, including ERISA; non-qualified plans; and other employee benefits plansStrong working knowledge of IRA Rollovers, and state escheatment, regulations and processesProduct Ownership mindset with a high level of accountability, excellent problem-solving skills and an eye for detailsAdvanced written and verbal communication skills with an ability to communicate at all levels with clarity and precisionExcellent working knowledge of software applications including Word, Excel, trading and trust systemsInternal and external client focus
Preferred Qualifications:
Candidates with a Series 24 are strongly preferredStrong organizational skills and a proven ability to prioritize, track and complete multiple assignments within established deadlines with minimal supervisionPositive attitude, enthusiasm, professionalism, and strong work ethic with high level of integrity and ethicsOptions 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?
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