Charles Schwab Internal Audit Department (IAD) provides independent and objective assurance designed to add new value and improve the operations of Schwab for all partners. Internal Audit assists Schwab to accomplish its objectives by using a detailed, focused approach to understand, evaluate, test and improve the efficiency and security of business processes across the organization. Additionally we evaluate the efficiency of risk management, control and governance processes. Internal Audit leadership is responsible for overseeing the execution of internal audits, identifying and implementing operational improvements, monitoring vendor performance, and periodically report to governance committees, federal regulators and the Audit Committee. The Internal Audit Department is exposed to and communicates with all areas of the company. The department is split into six enterprise teams; Technology, Broker-Dealer, Bank, Corporate, Operations and Professional Practices.
The Corporate and Risk Management Audit team is seeking an Internal Audit Senior Manager – Quantitative Specialist. The Corporate and Risk team is responsible for execution of audits over the firm's corporate and risk management functions and includes evaluation on quantitative models. Risk Management audits cover areas such as interest rate, credit, liquidity and operational risk management. Corporate audits cover areas such as corporate finance, treasury and capital management, accounting and HR. The team also performs testing to confirm remediation of audit and regulatory issues.
Reporting to the Vice President, Capital, Treasury and Model Audit team – the Internal Audit Senior Manager Quantitative Specialist will have responsibility for the independent and objective assurance activity designed to improve the organization's operations and compliance with key regulations by evaluating and improving the effectiveness of risk management, control, and governance processes. This position is also responsible for working with auditing resources provided by an external co-sourcing provider.
What youre good at
Direct and supervise the design and execution of internal audits, ensuring work is performed in accordance with IIA standards and IAD policies and procedures. This includes the evaluation of specific models using IAD's templates to evaluate development and validation related controls.
Participate in an audit team may include internal or co-sourced internal audit professionals.
Lead meetings with partners including discussions with Model Risk Oversight.
Ensure coordination with integrated and project management of model related activities across the audit team. This includes understanding the universe of models, their alignment with risks and the broader audit plan, quantitative analysis, development, validation and auditing.
Ensure coordination with integrated and data analytic audit teams.
Prepare and/or review work papers to ensure clear identification of risks and issues, validating appropriateness of fieldwork testing, and sign-off on audit deliverables.
Handle and advance changes in audit timelines, budget, resourcing, and achievements.
Assess the quality of management's Risk & Control Self-Assessments; and support the assessment of the operational risk management program that manages the RCSA program.
Will work directly with teams auditing capital, interest rate, liquidity and model risk related audit areas. Will also work with other business line audit team in conjunction with the Model Center of Excellence Coordinator to align with risk management audit team's budget/resource.
Issues Identification: Review draft issue observations, vet issues with key partners, identify compensating controls, and evaluate the appropriateness of the management action plan prior to finalizing the audit report.
Issue Management and Validation: Monitor and review issue validation testing to ensure comprehensive testing and adherence to SLAs.
Business and Project Monitoring: Participate in the department's business and project monitoring program execution to identify emerging risks.
Risk Assessment: Participate in the annual Risk Assessment process, including the scoring and documentation of risk ratings. Review audit universe updates after the completion of each audit.
Coaching: Provide support, coaching, and feedback to the audit team throughout the audit. Provide assistance with onboarding and ongoing support to new team members.
Regulatory: Conduct validation testing on the action plans completed by management to address MRAs. As needed, provide responses to IAD management related to regulatory questions during exams.
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 department strategic initiatives.
What you have
7-15+ years of financial services-related audit experience with increasing responsibility. Corporate, Broker Dealer, Bank Operations, or Regulatory Compliance experience specific to internal audit and/or similar Big 4 Accounting or regulatory experience a plus.
Strong background in quantitative analysis, economics, statistics, data analytics and linkage to systems and applications. Familiar with model risk management concepts such as model development, governance, inventory, documentation, validation and use, loss forecasting, and other model business purposes (compliance, credit, etc.). Modeling experience using SAS or model coding is also a positive. Understanding of machine learning and artificial intelligence related models is a plus.
Familiar with different mathematical theories and models used for interest rate, credit, and pre-provision net income measurement. An understanding of machine learning models is also a plus.
Financial or statistical advanced degree is preferred with a CFA being a plus. Other applicable financial services and/or risk management certifications considered.
Understanding of Interagency Supervisory Guidance on Model Risk Management, DFAST/CCAR.
Demonstrated experience leading internal audits and their associated team members, amongst a complex operational and regulatory environment.
Ability to lead a project team and champion a strong working relationship with external co-sourcing provider, regulators, and internal lines of businesses.
Clear understanding of risks and internal controls and the ability to evaluate and figure out adequacy and effectiveness of controls.
Stays current on industry and regulatory issues and standard methodologies; imparts this knowledge to the team and the auditees.
Excellent analytical skills, including the ability to anticipate issues and to design appropriate solutions.
Strong verbal and written communication skills with a shown ability to articulate effectively and professionally.
Uses relationships and insights to successfully influence others. Builds authentic and trusted relationships to create alignment and support.
Bachelor's degree required.
Ability to travel 15-20%
Internal Number: 6733808
About Charles Schwab
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