Senior Auditor, Risk Analytics/Modeling

Your opportunity

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 environment
• Communicate work through formal model audit templates, reports, as well as through presentations to model owners and validation teams
• Work effectively as a team member with other quantitative analysts at the company
• Evaluate model performance monitoring reports, and conducting model annual reviews
• Participate 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

Required skills and qualifications:

• 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 MATLAB
• Strong oral and written communication skills
• Excellent people skills

Preferred skills and qualifications:

• Understanding of statistical concepts and predictive modeling fields
• Beginning exposure to model governance processes and regulatory requirements for large US banks
• Exposure to model governance processes