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.
In 1st Line of Defense (1LOD), the Transaction Risk Interdiction & Detection (TRIAD) team owns an integrated risk management strategy that supports the delivery of predictable financial and operational performance to produce successful client and shareholder outcomes. Our charter is to protect our client’s and the firm’s assets by preventing and mitigating fraud losses by utilizing various tools and vendor solutions such as Enterprise Risk Engine (Actimize), ThreatMetrix, OASIS, Visa Fraud Modeling, and other vendor Models. TRIAD is responsible for creating strategies to interdict fraud perpetrated by criminals in our MoveMoney products and accounts – Wires, ACH, New Accounts, Visa transactions, Bank Bill Pay, Journals and other Schwab products used to move money to and from Schwab. The team is responsible for reviewing historical transactions of known fraud; reviewing existing in house and vendor models used to score fraud; and to keep abreast of new, emerging threats. The team also works closely with our model product owners, Schwab Model Review Oversight organization, Internal Audit teams, and our business stakeholders in Banking and Brokerage operations to provide updates and metrics on ongoing fraud effectiveness in all the previously mentioned Move Money products.
What you’ll do:
The manager is an individual contributor responsible for protecting our client’s assets by developing fraud strategies to interdict real time transactions in our various card transaction risk engines; VRM, RSM, Falcon, ICAS, Defense Edge, etc. They will be responsible for identifying, analyzing, testing, and implementing new fraud strategies to address emerging trends within the debit card portfolio(s) for our clients. In addition, they will need to stay up to date on current fraud best practices, while monitoring/maintaining current strategies within the multiple rules engines to ensure the right balance between fraud prevention and client experience.The ideal candidate will query transactions from our operational databases and cloud data warehouse using SQL and other BI tools to analyze transaction patterns indicative of fraudulent behavior; these patterns will be used to implement real time interdiction strategies in our rules-based engines, make recommendations to improve the overall client experience, create summary reporting to communicate to our stakeholders, etc.In addition, they will have a basic understanding of KYC practices, fraud loss types, and Visa dispute practices. 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:
2+ years of experience identifying, analyzing, testing, and implementing new fraud strategies to address emerging trends within the debit card portfolio(s) or other real time interdiction risk platforms2+ years of SQL programming experience in one or more applications (e.g. SQL Server, Oracle, Teradata, Big Query, Postgres, etc.)2+ years data integration with Python/SASAbility to assess risk and impact of current strategies on fraud mitigation, in conjunction with client experienceGood understanding of basic Exploratory Data Analysis (EDA)Basic understanding of KYC practices, fraud loss types, and Visa dispute practicesStrong data visualization and data wrangling skills
Preferred Qualifications:
A passion in protecting Charles Schwab client and company assetsAbility to work as part of a team, but can also work independentlyStrong verbal and written communication skillsEffective skills in the management of personal workloads with an emphasis on producing quality work with minimal errors in a demanding environment2+ years authoring rules in one or more of card transaction risk engines (e.g. Falcon, VRM, RSM, Defense Edge, etc.)2+ years of analytical experience in the areas of financial crimes, fraud, and financial transactions2+ years financial services/banking operations experienceExperience in various tools such as Tableau, R, and any other analytics software is a plusWorking knowledge with fraud issues preferredEDUCATION
Preferred: B.S./B.A. or MS/MBA in Finance, Economics, Computer Science, InfoTech or related field
5+ years of direct experience will be considered in lieu of a college degree
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