The Model Risk Oversight (MRO) Governance team resides within the Corporate Risk Management organization at Charles Schwab & Co., Inc. We are charged with developing, maintaining, and communicating proper model risk policies, procedures, and framework to those who build models across the company.
As a Business Analyst / Systems Developer for the Model Risk Management team, you will be jointly responsible for the development and implementation of proper control frameworks to ensure compliance with MRO policies and procedures for both first and second lines of defense (model owners and MRO team). You will work closely with the entire Model Risk Oversight team, as well as with business units which own models across the company. Model Risk Management, Risk Management, Compliance, Governance, Oversight, C# or application development. Individual Contributor role reporting to Managing Director, Risk Analytics/ Modeling.
What you are good at:
The MRO Governance Controls team is responsible for many tasks, so the responsibilities of this role may vary over time. The main focus of the ideal candidate will be:
Maintain control frameworks across the firm
- First line of defense: departments that own models require controls to be in place that keep them in compliance with our policies and procedures
- Second line of defense: we must maintain our own risk and control self-assessment (RCSA) which keeps us in compliance with our own policies and procedures, regulatory guidance, and industry best practice
- Execute self-assessment tasks to ensure Model Risk Oversight is an effective oversight function at the firm
- Maintain alignment with Enterprise Risk Management (ERM) framework. ERM establishes pillars of risk management which we should align with in our policies and procedures. MRO also defines long-term goals and objectives for each pillar and monitors these goals.
- MRO is a visible team, and as such, gets reviewed by regulators, audit, testing, and other oversight functions. The governance controls team is responsible for supporting these exams and monitoring issue remediation.
- Development of automated testing environments
What you have:
The ideal candidate will have a proven ability to develop and maintain a control, governance, or oversight framework and ability and initiative to anticipate and resolve problems. Specifically, the ideal candidate will have:
- Bachelor’s degree in information systems, business, or related area required
- MBA, master’s degree, or equivalent work experience in governance/oversight preferred
3-5 years of experience. Strong knowledge and experience with risk and control frameworks, policies, procedures, oversight, and governance required
- Ability to communicate and present ideas and concepts clearly with senior leadership, and business lines across the firm
- Sharp critical thinking and problem solving skills
- Proficiency in MS Office products
- Experience with object-oriented programming (C#) with a mindset of automation preferred