Manager, Internal Audit- Risk Analytics​/Modeling

** Your opportunity*
* Charles Schwab Internal Audit Department provides independent and objective assurance crafted to make valuable contributions and improve the operations of Schwab for all partners. Internal Audit assists Schwab to accomplish its objectives by using a detailed, focused approach to understand, evaluate, test and improve the effectiveness of business processes across the organization. Additionally, we evaluate the effectiveness of risk management, control and governance processes.

Internal Audit leadership is responsible for overseeing the execution of internal audits, identifying and implementing process improvements, monitoring vendor performance, and periodically report to governance committees, federal regulators and the Audit Committee. The Internal Audit Department is exposed to and communicates with all areas of the company.

The Corporate Internal Audit team is seeking a Manager, Internal Audit, Risk Analytics/Modeling. The Corporate team is responsible for execution of audits over the firm's corporate and risk management functions including model risk.

We are hiring a quantitative senior specialist to perform testing as part of audit reviews of model development, governance and validation controls. This individual will contribute to the Corporate Internal Audit team.

The candidate will need strong quantitative acuity and developing understanding of how financial models are used in business contexts.

The role includes performing testing as part of audit reviews of various model types including:
Capital Stress Testing (CST), Fraud, Anti-Money Laundering (AML), Machine Learning, Credit risk, Interest Rate risk, Margin risk, Investment risk, and Business Intelligence/Marketing.

The job responsibilities will include, but not be limited to:

+ Performing audit reviews of model development and validation following guidelines based on SR 11-7 Guidance on Model Risk Management, to include an assessment of model usage, documentation, conceptual soundness, data integrity, the control environment, and the software environment

+ Communicating work through formal audit reports and issues as well as through presentations to model owners, Model Risk Oversight (MRO) along with senior management

+ Working effectively as a team member with other quantitative analysts in Audit and at the company

+ Evaluating model performance monitoring reports, and conducting reviews of model annual reviews

+ Developing partnership with IAD business team, MRO, and model stakeholders, and summarizing findings to senior leadership and non-technical partners

+ Assist with the Model Centers of Excellence (COE) and subject matter experts including developing and supporting Model/Technical trainings to broader IAD (Senior Manager, Internal Audit)

+ Provide onboarding and ongoing support to new model team members

+ Performs initial reviews of model work papers from a quantitative perspective to ensure effective challenge within model testing papers.

From an audit execution perspective:

+ Direct and supervise the design and execution of internal audits on models, ensuring work is performed in accordance with IAD methodology.

+ Participation on an audit team may include internal or co-sourced internal audit professionals.

+ Lead meetings with partners.

+ Ensure coordination with integrated and data analytic audit teams.

+ Prepare and/or review work papers to ensure clear identification of risks and issues, validating appropriateness of fieldwork testing, and sign-off on audit deliverables.

+ Handle and advance changes in audit timelines, budget, resourcing, and achievements.

+ Assess the quality of management's Risk & Control Self-Assessments.

+ Work with capital, interest rate, liquidity and model related audit areas.

+ Issues Identification:
Based on the results of audit testing, identify and draft observations for review. Review draft issue observations, vet issues with key partners, identify compensating controls, and evaluate the appropriateness of the management action plan prior to finalizing the audit report.

+ Issue Management and Validation:
Monitor and review issue validation testing to ensure comprehensive testing and…