Manager - Model Risk Management - ReqCode 01126852

Organizational Objective/PurposeThe Model Risk Management team is part of Corporate Risk Management at Schwab Bank, Charles Schwab Investment Management and Charles Schwab & Co., Inc. The team is responsible for identifying all model risk at the company, and for ensuring that this risk is properly managed and mitigated, according to the Model Risk Management policies and procedures.

Brief Description of RoleThe incumbent will be responsible for implementing the Model Risk Management policies and procedures by designing and managing appropriate workflow tools, model inventories, document management systems, and reports.

Specific duties include:

Design, implement, and maintain a dynamic inventory of all models used at the company to monitor and track key model metrics, such as version, risk level, documentation, and any outstanding issues.

Maintain all documents created and used by Model Risk Management.

Manage all the work flows within Model Risk Management, including those associated with model validations, whether performed internally or externally, to inform timely decision making by all affected parties.

Design and produce model risk summary reports for senior management.

Work proactively with model owners to facilitate compliance with model risk policies and procedures, for example through the design of appropriate training materials.

Serve as key contact for communications with internal/external auditors and regulators on model risk.

Assist with model validation work as needed.

Technical/Functional Qualifications

Bachelor's degree in technical or quantitative discipline, advanced degree preferred.

5+ years of related work experience.

Experience translating business needs into technical requirements desired.

Some understanding of model or software development principles and quality control mechanisms preferred.

Good analytical, written and oral communication skills.

Some experience with database design preferred.