2022 Charles Schwab Internal Audit Internship
Do you want to spend your summer internship with a company that has been challenging the conventions of the financial services industry for over 45 years? Schwab’s mission is to help our clients build a better future for themselves, their families, and their communities. It is summed up in our tagline – Own your tomorrow – and it permeates everything we do.
The design of the program invites interns to engage directly in Schwab’s culture of service, while challenging them with a blend of learning programs, team-building activities, networking opportunities, and enriching work projects. Features of our 2022 program include:
- Business Track Project: Working with your host business track at Schwab provides a meaningful and valuable experience to translate classroom learning into real business projects.
- Intern Cohort Project: Partner with other interns to brainstorm, discuss learning experiences, and present solutions.
- Learning Activities: Participate in facilitated training, team discussions and events, individual assessments and activities, senior leader meetings, and on-the-job training.
- Dedicated Intern Leader: Receive regular feedback from your leader, participate in career-related discussions, and provide your own feedback.
- Strengths Application: Learn about yourself and how to apply your unique strengths, abilities, and goals to the work you do as part of Schwab’s ‘strengths-based’ culture.
- Networking: Build your network by interacting with professionals across Schwab, including senior leaders, peers, and Schwab Intern Academy Alumni.
Because interns are considered a primary pipeline for full-time opportunities, every intern candidate must be eligible for full-time employment upon graduation and must also meet the following requirements:
- Enrolled in a current undergraduate or graduate program tracking to graduate between December 2022 and May/June 2023
- Ability to work full time and be on-site at assigned Schwab location during the 9-week program (June 6 to August 5, 2022)
- Have specific skills as specified by the hosting Business Track
Schwab is recognized as an industry leader, and our welcoming culture will embrace your individuality and partner you with other like-minded and solution-focused students. We will invest in your summer experience by providing you direction and leadership for a robust and well-rounded internship, as well as helping you focus on a potential future career with Schwab.
Regardless of which opportunity you pursue, we will provide you with a consistent and outstanding experience – one you won’t soon forget!
What you are good at
We look for students with:
- Optimism and curiosity, who possess a keen sense of purpose, awareness, and knowledge and who have the demeanor of an everyday leader
- Resourcefulness and flexibility, who enjoy working through cross-functional partnerships and collaboration to achieve a common purpose
- An innovative and questioning demeanor, who constantly look for better ways to do things, have a passion for service, and seek to exceed client expectations
What you have
- A strong desire to build and grow a career in the financial services industry
- Outstanding written and oral communication skills
- The courage to ask “why”!
As an affirmative action employer, Schwab takes affirmative action to employ qualified minorities, women, individuals with disabilities, and protected veterans in our intern program. As a culture that values Diversity and Inclusion, Schwab encourages the application of Women, Minorities, Individuals with Disabilities and Protected Veterans to the Intern Academy.
There are many different business tracks that you can engage with over the course of the summer. Some of the tracks that will host 2022 interns are:
- Corporate Risk Management
- Digital Services
- Front Line Risk Management
- Human Resources
- Internal Audit
- Investor and Client Service
- Model Risk Management
- Retirement Business Services
- Schwab Asset Management Solutions
- Schwab Branch Network
- Schwab Technology Services
- Workplace Financial Services
You can find additional program information at:
We encourage you to apply for all positions for which you are qualified and interested. To formally apply and be considered, use this link:
Internal Audit Department
The Internal Audit Department (IAD) of The Charles Schwab Corporation provides independent and objective assessments to resolve 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 effectiveness of governance processes, risk management, and internal controls. The department is split into five Enterprise Teams; Technology, Broker-Dealer, Bank, Corporate, and Professional Practices.
Internal Audit interns will be aligned to specific Enterprise Teams during their internship. All interns will have the opportunity to participate in department wide functions and will have exposure to other departments within Internal Audit. Four groups are hiring interns in various locations:
The Broker-Dealer/Asset Management team provides internal audit coverage of the business process activities and compliance functions for Schwab’s registered domestic and international broker-dealers and registered retail and institutional investment advisors. The team’s scope includes audit execution and oversight for Schwab’s: (i) client-facing activities supporting retail investors and independent investment advisors on Schwab’s platform and their clients; (ii) client product solutions and market expertise; (iii) portfolio advisory services and research; (iv) asset management functions; (v) corporate client services, including stock plan services, retirement plan services, and compliance and employee trade monitoring solutions; and (vi) middle and back office operational functions.
The Bank Internal Audit team is focused on the execution of Bank and Trust audits that target internal controls and regulatory compliance. Charles Schwab has three chartered banks that service clients. Bank audits cover areas such as corporate governance and risk management programs, as well as deposit and lending products that are offered to our clients. Trust audits focus on trust and custody services for employee benefit plans, and personal trust services.
The Corporate Internal Audit team is responsible for execution of audits over the firm’s corporate and risk management functions. Corporate audits cover areas such as marketing, finance, treasury, accounting, vendor management, and human resources. Risk Management audits cover areas such as compliance, credit, liquidity, market and operational risk management. The team also performs testing to confirm remediation of audit issues and regulatory issues.
What you will do
- You will assist in planning and executing audits across multiple Schwab organizations.
- You will participate in internal team meetings, as well as meetings with the business.
- You will perform internal audit controls testing and issue follow-up testing.
- You will assist with Internal Audit operational tasks such as management of audit status, issue status, audit file preparation and implementation.
- You will be responsible for managing your own tasks and letting teams know of your availability for work.
What you have
- Strong communication skills (written and verbal).
- Self-starter with strong organizational skills.
- Ability to multitask and run multiple projects (2-3), demonstrating an ability to analyze and prioritize to meet multiple client needs.
- Ability to work as a member of a project team and cultivate a strong working relationship with external co-sourcing providers and internal lines of businesses.
- Demonstrates ability to learn and grow.
- Initiative to research, understand and analyze a variety of situations or processes.
What you will learn
- You will learn how to analyze and understand highly complex business problems that are part of operating in the financial industry.
- You will spend time executing and examining various audit plans and learn control testing strategies.
- You will learn how to execute internal audits in accordance with department procedures.
- You will learn how to identify and assess inherent risk and controls to mitigate those risks.
- You will learn how to perform audit issue follow-up and how document results of that testing.
- You will experience and learn about how Internal Audit operates in a highly regulated environment.
- You will learn how Internal Audit operates within the enterprise risk management framework as the third line of defense.
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.
Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Please click here to see the policy.
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.