At Schwab, the Model Risk Oversight (MRO) team is part of the corporate risk management department. It reviews models used by the firm and measures the individual and aggregate model risks – the risks of misusing models and the risks of relying on erroneous model outputs.
Requirements
- Working knowledge in one or more of the following analysis tools: R, Python, SAS, or MATLAB.
- Working knowledge in object-oriented programming with C-Sharp, Java, Python, JavaScript, database design, ETL, etc.
- Course work or experience in building AI/ML or Cloud Solutions in Azure/GCP is strongly preferred.
- Coursework or interest in quantitative/financial model oversight, risk management, compliance, management of policies and procedures, coding, systems development, process automation, data science, or process improvement.
Responsibilities
- assist with model risk governance and model validation
- communicate the outcomes of your testing, review, and analysis
- develop software technologies that revolutionize model risk management
- maintain and enhance sophisticated model risk software solutions
- create tools for data visualization
- assess the risk of technology used in models at the firm
- building out and executing processes that support technical validation and model risk monitoring
Other
- Enrolled in a PhD. or master’s degree in technical or quantitative field involving predictive modeling, statistical analysis, applied math, operations research, physics, or data science and be able to start full-time employment between August 2026-September 2027
- Ability to work full time and be on-site at the Schwab Denver location during the 9-week program (June 8 to August 7, 2026)
- Analytical and inquisitive frame of mind with an interest in financial modeling in the context of quantitative risk management
- Ability to communicate effectively, both orally and in writing, with employees that have varying levels of analytical expertise
- Resourcefulness and flexibility, who enjoy working through cross-functional partnerships and collaboration to achieve a common purpose
