Senior Specialist, Model Validation

About the position

At Schwab, you are 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. Model Risk Oversight is a strategic function within the broader Corporate Risk Management umbrella that utilizes a broad spectrum of models to create innovative products for our clients, and to prudently manage our financial risk using sophisticated quantitative approaches. The Model Risk Oversight team plays a key role in identifying, reviewing, and monitoring all models at the company. We seek a quantitative analyst to assist with model validations and make additional contributions to the Model Risk Oversight team. The analyst will participate in several model governance activities in business areas including Artificial Intelligence techniques and investment management. The use of Artificial Intelligence at Schwab is growing rapidly and the analyst will work primarily on validation projects of this type. The job responsibilities will include, but not be limited to: Performing model validations following guidelines based on SR 11-7, to include an assessment of model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environment; Presenting work through formal model validation reports, as well as through presentations to model owners and senior management; Working effectively as a team member with other quantitative analysts at the company, as well as with external consultants; Evaluating model performance monitoring reports and conducting model annual reviews. Please note: this position is M-F and a hybrid work model. It will be 4 days in-office, 1 day from home, during standard business hours. It is only avaliable in DFW, Austin. Candidate must reside or be willing to relocate on their own to one of these locations. This will be an individual contributor role.

Responsibilities

  • Performing model validations following guidelines based on SR 11-7, to include an assessment of model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environment
  • Presenting work through formal model validation reports, as well as through presentations to model owners and senior management
  • Working effectively as a team member with other quantitative analysts at the company, as well as with external consultants
  • Evaluating model performance monitoring reports and conducting model annual reviews

Requirements

  • Advanced degree in a quantitative discipline.
  • 0-1 years of work experience with model development or model validation in the financial industry.
  • Advanced skill with open-source analytical tools and libraries, such as Python or R.

Nice-to-haves

  • Strong oral and written communication skills.
  • Experience with generative AI application development, such as retrieval augmented generation.
  • Model development or model validation experience related to supervised machine learning.
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