Asset Management Internal Audit Director, PL

Your Opportunity We believe in the importance of in-office collaboration and fully intend for the selected candidate for this role to work on site in the specified location(s).At Schwab, you’re empowered to make an impact on your career. Here, innovative thought meets creative problem solving, helping us “challenge the status quo” and transform the finance industry together.

The Internal Audit Department of The Charles Schwab Corporation provides independent and objective assessments to figure out 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 efficiency of governance processes, risk management, and internal controls.

The Broker-Dealer/Asset Management team is seeking an Internal Audit Director, responsible for overseeing the team’s audit coverage of asset management functions, products, and services across the company, including registered investment companies, separately managed accounts, unregistered private funds, and other asset management products. Specifically, the scope of the asset management audit activities covers business practices, fiduciary and regulatory compliance, investment and product governance, portfolio management, trading, valuation, distribution, and operations.  

In addition, the Internal Audit Director will also support other Broker-Dealer/Asset Management functions: (i) wealth management, (ii) alternative investments and strategies, (iii) private markets, (iv) client-facing activities and digital platforms supporting the broker-dealer, (v) product market solutions and market expertise, (vi) workplace services, (vii) disclosures and relevant compliance obligations, and (viii) middle and back office operational functions.

Reporting to the Managing Director responsible for Asset and Wealth Management within the Broker-Dealer/Asset Management team, the Internal Audit Director will lead independent, objective assurance activities designed to strengthen operations, risk management, governance, and compliance with applicable fiduciary, securities, investment company, and investment adviser requirements. The Internal Audit Director will develop and maintain a risk-based coverage approach to address existing and emerging risks, driving high-quality audit results and work product, managing stakeholder relationships, and developing and retaining talent.

The role requires deep knowledge of asset management activities, investment products and platforms, and the key regulations supporting asset management activities (e.g., Investment Company Act of 1940, Advisers Act of 1940).

Role Responsibilities:

Audit Leadership and Execution:

Lead the planning, execution, and reporting of internal audit assignments audits across multiple business functions, with a focus on application control testing and digital experiences;
Ensure audit scope adequately addresses key risks, controls, and dependencies across business and technology environments, including regulatory considerations;

Support the use of data analytics and AI, when possible, to delver audit effectiveness and efficiencies;

Provide oversight of audit testing, issue development, root cause analysis, and report drafting to effectively identify and communicate meaningful risks and control gaps, including issue and overall report ratings, and the appropriateness of management action plans;

Deliver high-quality audit deliverables, including the review and sign-off on audit work papers and deliverables to ensure adherence to professional standards and internal methodology;

Support the audit team in meetings with key business partners…