At Schwab, the Model Risk Oversight (MRO) team is responsible for reviewing models used by the firm and measuring individual and aggregate model risks. This involves addressing the risks of misusing models and the risks of relying on erroneous model outputs. The internship program aims to immerse interns in the Schwab culture and their roles, focusing on challenging the status quo and transforming the finance industry.
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, 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
- effectively 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
