2022 Charles Schwab Enterprise - Model Risk Oversight Graduate Degree Internship

Job Description

Your Opportunity

Do you want to spend your summer internship with a company that has been challenging the conventions of the financial services industry for over 45 years? Schwab’s mission is to help our clients build a better future for themselves, their families, and their communities. It is summed up in our tagline – Own your tomorrow – and it permeates everything we do.

The design of the program invites interns to engage directly in Schwab’s culture of service, while challenging them with a blend of learning programs, team-building activities, networking opportunities, and enriching work projects. Features of our 2022 program include:

• Business Track Project: Working with your host business track at Schwab provides a meaningful and valuable experience to translate classroom learning into real business projects.
• Intern Cohort Project: Partner with other interns to brainstorm, discuss learning experiences, and present solutions.
• Learning Activities: Participate in facilitated training, team discussions and events, individual assessments and activities, senior leader meetings, and on-the-job training.
• Dedicated Intern Leader: Receive regular feedback from your leader, participate in career-related discussions, and provide your own feedback.
• Strengths Application: Learn about yourself and how to apply your unique strengths, abilities, and goals to the work you do as part of Schwab’s ‘strengths-based’ culture.
• Networking: Build your network by interacting with professionals across Schwab, including senior leaders, peers, and Schwab Intern Academy Alumni.

Because interns are considered a primary pipeline for full-time opportunities, every intern candidate must be eligible for full-time employment upon graduation and must also meet the following requirements:

• Enrolled in a current undergraduate or graduate program tracking to graduate between December 2022 and May/June 2023
• Ability to work full time and be on-site at assigned Schwab location during the 9-week program (June 6 to August 5, 2022)
• Have specific skills as specified by the hosting Business Track

Schwab is recognized as an industry leader, and our welcoming culture will embrace your individuality and partner you with other like-minded and solution-focused students. We will invest in your summer experience by providing you direction and leadership for a robust and well-rounded internship, as well as helping you focus on a potential future career with Schwab.

Regardless of which opportunity you pursue, we will provide you with a consistent and outstanding experience – one you won’t soon forget!

What you are good at

We look for students with:

• Optimism and curiosity, who possess a keen sense of purpose, awareness, and knowledge and who have the demeanor of an everyday leader
• Resourcefulness and flexibility, who enjoy working through cross-functional partnerships and collaboration to achieve a common purpose
• An innovative and questioning demeanor, who constantly look for better ways to do things, have a passion for service, and seek to exceed client expectations

What you have

• A strong desire to build and grow a career in the financial services industry
• Outstanding communication skills (written and oral)
• The courage to ask “why”

As an affirmative action employer, Schwab takes affirmative action to employ qualified minorities, women, individuals with disabilities, and protected veterans in our intern program. As a culture that values Diversity and Inclusion, Schwab encourages the application of Women, Minorities, Individuals with Disabilities and Protected Veterans to the Intern Academy.

There are many different business tracks that you can engage with over the course of the summer. Some of the tracks that will host 2022 interns are:

• Corporate Risk Management
• Digital Services
• Finance
• Front Line Risk Management
• Human Resources
• Internal Audit
• Investor and Client Service
• Marketing
• Model Risk Management
• Operations
• Retirement Business Services
• Schwab Asset Management Solutions
• Schwab Branch Network
• Schwab Technology Services
• Workplace Financial Services

You can find additional program information at:

https://jobs.schwabjobs.com/internship-academy

We encourage you to apply for all positions for which you are qualified and interested. To formally apply and be considered, use this link:

Schwabjobs.com

Corporate Risk Management (CRM) – Model Risk Oversite (MRO)

Model Risk Intern – Technical Validation

In Model Risk Oversight, we manage and oversee the risk involved with using financial and quantitative models at the firm. The Model Risk Oversight Governance team, specifically, is responsible for the buildout of the program, development of policies, standards, and procedures, implementation of the program, and periodic assessment of program effectiveness.

The MRO Program Management team is looking for interns to assist with the buildout and execution of some of these processes that support model validation and model risk monitoring. We are looking for interns who have sharp critical thinking skills, have a desire to work in the second line of defense (risk management), and an interest in how models and model risk works at a top financial services firm that values putting the client first.

What you’ll do:

• Perform technical validations and review the implementation of models in the areas of systems technical infrastructure, data management, access management, change management, and model execution
• Assist in developing the scope of technical validations and aligning with industry best practice and with other technical teams at the firm
• Identify issues and work with model owners on building effective technical model implementation solutions

What backgrounds Schwab is looking for:

• MBA or Master’s degree in quantitative or technical field with a planned graduation date between Fall 2022 and Spring 2023
• Coursework or interest in quantitative/financial model oversight, risk management, compliance, management of policies and procedures, coding, systems development, process automation, or process improvement

What you’ll get:

• Exposure to many areas of the company and knowledge of how Schwab is structured and operates
• Knowledge of how Schwab quantifies, tracks, and mitigates model risk in accordance with regulatory guidance
• Experience communicating with and learning from model owners and validators

Model Risk Intern – Feature Engineer

The Model Risk Oversight (MRO) team within Corporate Risk Management is responsible for identifying and managing model risk at the company.

We are looking for an experienced full stack developer to join this highly engaging, driven and innovative team at Schwab. The successful candidate will work on data science projects, such as designing and coding data pipelines, implementing data transformation and model fitting using Python.

What you’ll do:

• Using Python libraries, create data engineering pipelines to support model risk needs related to data analytics, machine learning, artificial intelligence, and predictive modeling.
• Perform feature engineering, data transformation, exploration, data engineering, testing and monitoring to measure explainability, bias, quality, stability and accuracy for the data.
• Translate specifications and requirements and drive development efforts from ideation to final deliverables.

What backgrounds Schwab is looking for:

Interns may have some combination of the following attributes:

• D. or master’s degree in technical or quantitative field
• Coursework or interest in object-oriented programming with Python and predictive modeling using data science and statistical packages like Dataiku, Datarobot, SAS, R, MATLAB, etc.

What you’ll get:

• Exposure to many areas of the company and knowledge of how Schwab is structured and operates
• Knowledge of how Schwab quantifies, tracks, and mitigates model risk in accordance with regulatory guidance
• Knowledge of how computer applications are built and distributed in an established firm
• Experience in data management, reporting, and enterprise-level application development
• Experience communicating with and learning from model owners and validators

Model Risk Intern – Software Engineering

The Model Risk Oversight (MRO) team within Corporate Risk Management is responsible for identifying and managing model risk at the company. The MRO Research and Development Team develop software technologies that revolutionize model risk management.

We are looking for an experienced full stack developer to join this highly engaging, driven, and innovative team at Schwab. The successful candidate will be able to independently develop highly sophisticated software solutions that empower MRO and our business partners.

What you’ll do:

• Help maintain and enhance sophisticated model risk software solutions for model inventory management, workflows, document automation, etc.
• Create database to database automations between MRO and our business partners to enable more model data analytic works that help Schwab mitigate and understand model risk.
• Create tools for data visualization, and design and automate dashboards and reporting for complex data.

What backgrounds Schwab is looking for:

Interns may have some combination of the following attributes:

• D. or master’s degree in technical or quantitative field
• Coursework or interest in object-oriented programming with C#, Java, Python, Angular, database design, ETL, etc.

What you’ll get:

• Exposure to many areas of the company and knowledge of how Schwab is structured and operates
• Knowledge of how Schwab quantifies, tracks, and mitigates model risk in accordance with regulatory guidance
• Knowledge of how computer applications are built and distributed in an established firm
• Experience in data management, reporting, and enterprise-level application development
• Experience communicating with and learning from model owners and validators

Model Risk Intern – Model Validation

The Model Risk Oversight (MRO) department is looking for interns to assist with model risk governance and model validation activities. MRO is part of the corporate risk management department at Schwab. 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.

What you’ll do:

• Review of models including their documentation to assess documentation clarity and model’s conceptual soundness
• Verify model’s outcome analyses and perform additional tests, as needed
• Present results of validation work including outcomes of testing, review and analysis in a written report
• Follow-up on identified issues internally within our team and with model owners

What backgrounds Schwab is looking for:

• D. or master’s degree in technical or quantitative field involving predictive modeling, statistical analysis, applied math, operations research, data science, etc.
• Working knowledge in one or more of the following analysis tools: R, python, SAS, or MATLAB.
• 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.

What you’ll get:

• Exposure to many areas of the company and knowledge of how Schwab is structured and operates
• Knowledge of how Schwab quantifies, tracks, and mitigates model risk in accordance with regulatory guidance
• Experience in model validation
• Experience communicating with and learning from model owners and validators

Why work for us?

Own Your Tomorrow embodies everything we do! We are committed to helping our employees ignite their potential and achieve their dreams. Our employees get to play a central role in reinventing a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth.

Benefits: A competitive and flexible package designed to empower you for today and tomorrow. We offer a competitive and flexible package designed to help you make the most of your life at work and at home—today and in the future. Explore further.

Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Please click here to see the policy.

Schwab is an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at [email protected] or call 800-275-1281.

TD Ameritrade, a subsidiary of Charles Schwab, is an Equal Opportunity Employer. At TD Ameritrade we believe People Matter. We value diversity and believe that it goes beyond all protected classes, thoughts, ideas, and perspectives.