Senior Manager, Data Scientist (Individual Contributor)
The Cash and Margin Analytics (CMA) team is looking for a dynamic, self-motivated model developer. The team is in the first-line and provides analytical support for Schwab’s top two revenue generating products (Cash and Margin). The team’s primary functions among others involve client segmentation and strategic analyses, quantitative research and developing models for forecasting product balances. The CMA team works closely with senior leadership, Central Finance, Treasury, Model Risk Oversight, and Risk Management to develop long and short-term forecasts for Charles Schwab and its operating entities. Note - this is an Individual Contributor role with no Direct Reports.
Workplace Flexibility Program: We're proud to support our employees in a working approach that allows you to bring your best self to work – whether that’s in the office or remote.
- Most Schwabbies have the opportunity to voluntarily work in the office or at home based on their preference*
- When the firm is ready to fully return to the office, employees will have the flexibility of a hybrid work environment, spending some time working remote and some time in the office.
- Employees and managers can discuss and decide what works best for them, with additional flexibility available based on their role, business needs, and individual circumstances.
*Subject to change as Schwab is continually evaluating the current environment in order to best care for the safety and well-being of our employees.
What you are good at
The model developer will play a critical role in applying quantitative analysis to drive new model development initiatives as well as providing improvements and support to existing models for both the business and the Schwab’s annual Comprehensive Capital Analysis and Review (CCAR) processes. The model developer’s key responsibilities will include but not be limited to:
- Perform computational, statistical and econometric analyses
- Detail the rationale and supporting evidence for model development
- Document model limitations and, on an ongoing basis, test the model performance to ensure that the model limitations do not adversely impact model accuracy
- Back-test risk factor assumptions; periodic model calibration will require an in-depth understanding of fixed income instruments, interest rate and prepayment modeling
- Provide insight into model functionality, capabilities, and limitations
- Use project management and communication skills to ensure project results are understood and achievable
- Serve as a liaison to other departments, including capital markets, finance, risk management, model risk oversight and internal audit
- Lead and participate in projects crafted to improve process automation and functionality
- Generate timely and accurate reporting of the results. Present and communicate scenario results to senior management on a regular basis.
What you have
A solid quantitative background, strong business acuity, successful track record working in teams, and experience composing reports and presentations for senior management. The individual should be tech-savvy and familiar with the standard methodologies related to the development of advanced quantitative models, including source code management and model validation techniques. Other qualifications include:
- Master's or more advanced degree in one of the following fields is required: finance, economics, financial engineering, applied and computational mathematics, and other fields in physical sciences or engineering that require heavy use of computational mathematics and/or statistical techniques
- A minimum of Master’s plus 5+ years of shown experience or PhD plus 3+ years of shown experience
- Strong quantitative and coding skills needed to deploy financial-focused software
- Advanced proficiency in R or Python. Proficiency in applied AI and Machine Learning will be a plus.
- Exceptional SQL skills using tools such as Teradata, MS SQL, Hadoop
- Solid written and verbal communication skills with ability to translate mathematical and statistical concepts into easily understood language
- Experience with Tableau or other Business Intelligence/Data Visualization software is desired but not required
Why work for us?
Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.
Benefits: A competitive and flexible package designed to empower you for today and tomorrow. We offer a competitive and flexible package designed to help you make the most of your life at work and at home—today and in the future. Explore further.
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Schwab is an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at email@example.com or call 800-275-1281.
TD Ameritrade, a subsidiary of Charles Schwab, is an Equal Opportunity Employer. At TD Ameritrade we believe People Matter. We value diversity and believe that it goes beyond all protected classes, thoughts, ideas, and perspectives.