Manager - ALM Strategy, Derivatives and Hedging

Your Opportunity

Your opportunity

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 Asset Liability Management (ALM) Strategy team within our Corporate Treasury department is responsible for balance sheet management and strategy, portfolio and brokered deposit notional investment allocation decisions, balance sheet modeling and analytics, market risk management, ALM derivatives hedging activities, funds transfer pricing (FTP), and net interest income forecasting. The overall team manages fixed-income investments in several portfolios totaling over $200 billion, with approximately $500 billion in total balance sheet assets, $85 billion in off-balance-sheet brokered deposit agreement notional investments and $30 billion in aggregate notional amounts of derivatives instruments.

As an individual contributor within the ALM Strategy team focusing on derivatives and hedging, you will play a key role in management of our derivatives hedging program used to drive ALM outcomes and mitigate the interest rate risk that arises from normal business activities across the firm. The team owns all aspects of the hedging program inclusive of strategy, execution, system implementation, hedge accounting, reporting and governance – collaborating with Treasury and internal business partners, including investment portfolio managers, funding managers, risk partners, corporate accounting, technology product owners and business lines.

In this role, you will be able to grow your expertise through consistent challenges and the backing of passionate leaders who will value your contributions and prioritize your development.

What you have

· 3+ years of career experience in Treasury, Finance, Accounting and/or ALM roles of progressive level of responsibility.

· Experience with Calypso trade entry and hedge accounting modules or other alternatives preferred.

· Familiarity with interest rate derivatives markets, conventions, and industry standards, as well as direct experience with the application of hedge accounting and execution of derivative transactions.

· Experience in developing and executing hedge strategies, including street facing responsibilities for derivatives pricing and execution.

· Ability to multi-task on multiple projects and deliverables while remaining calm in a potentially stressful environment.

· Enthusiasm to work in white space and the ability to create innovative analyses.

· Significant fixed-income investment modeling and analytics knowledge preferred.

· Possess emotional intelligence and executive presence with excellent written and oral communication.

· An undergraduate degree is required, strong preference for an advanced degree.

· Professional certification, such as CFA, FRM or PRM, preferred.

· Experience with Python and SQL or another general-purpose programming language preferred.

What you'll do:

· Assist in the management of Schwab’s interest rate derivatives portfolio with a focus on analyzing, selecting, and executing hedge strategies to support overall balance sheet positioning needs and achieve risk / profitability objectives.

· Analyze financial markets and collaborate with Treasury, Risk, and Accounting stakeholders to evaluate structural interest rate risk exposures and create / recommend hedge strategies using interest rate derivatives instruments including swaps, caps, floors, collars, spreads, and swaptions.

· Monitor existing hedge strategies and derivatives instruments to optimize risk / profitability objectives and work closely with accounting stakeholders to ensure appropriate application of hedge accounting under GAAP (ASC 815).

· Develop analytics required to manage the interest rate derivatives portfolio and associated hedging strategies with a focus on automation. Assist with the configuration and enhancement of front office systems used for management of derivatives positions and hedge accounting application.

· Partner with Treasury personnel to optimize our overall ALM positioning and managing ongoing financial risks from normal business activities consistent with the firm’s strategic goals and ALCO guidelines.

· Provide technical expertise to Treasury personnel and business lines on hedging impacts to fixed income portfolios, client lending, funding and various off-balance sheet exposures.

In addition to the salary range, this position is also eligible for bonus or incentive opportunities. 

What you are good at

What you have

· 3+ years of career experience in Treasury, Finance, Accounting and/or ALM roles of progressive level of responsibility.

· Experience with Calypso trade entry and hedge accounting modules or other alternatives preferred.

· Familiarity with interest rate derivatives markets, conventions, and industry standards, as well as direct experience with the application of hedge accounting and execution of derivative transactions.

· Experience in developing and executing hedge strategies, including street facing responsibilities for derivatives pricing and execution.

· Ability to multi-task on multiple projects and deliverables while remaining calm in a potentially stressful environment.

· Enthusiasm to work in white space and the ability to create innovative analyses.

· Significant fixed-income investment modeling and analytics knowledge preferred.

· Possess emotional intelligence and executive presence with excellent written and oral communication.

· An undergraduate degree is required, strong preference for an advanced degree.

· Professional certification, such as CFA, FRM or PRM, preferred.

· Experience with Python and SQL or another general-purpose programming language preferred.

What you'll do:

· Assist in the management of Schwab’s interest rate derivatives portfolio with a focus on analyzing, selecting, and executing hedge strategies to support overall balance sheet positioning needs and achieve risk / profitability objectives.

· Analyze financial markets and collaborate with Treasury, Risk, and Accounting stakeholders to evaluate structural interest rate risk exposures and create / recommend hedge strategies using interest rate derivatives instruments including swaps, caps, floors, collars, spreads, and swaptions.

· Monitor existing hedge strategies and derivatives instruments to optimize risk / profitability objectives and work closely with accounting stakeholders to ensure appropriate application of hedge accounting under GAAP (ASC 815).

· Develop analytics required to manage the interest rate derivatives portfolio and associated hedging strategies with a focus on automation. Assist with the configuration and enhancement of front office systems used for management of derivatives positions and hedge accounting application.

· Partner with Treasury personnel to optimize our overall ALM positioning and managing ongoing financial risks from normal business activities consistent with the firm’s strategic goals and ALCO guidelines.

· Provide technical expertise to Treasury personnel and business lines on hedging impacts to fixed income portfolios, client lending, funding and various off-balance sheet exposures.

In addition to the salary range, this position is also eligible for bonus or incentive opportunities.