Senior Manager, Compliance Risk Testing
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 Compliance Department coordinates Schwab’s compliance efforts, and performs an advisory, monitoring, testing, and education role to support management’s supervisory responsibility and its efforts to achieve compliance with financial services rules and regulations, and policies of the Company. We are currently offering the opportunity for a dynamic and engaging Compliance Professional to join the team, as a Senior Manager, responsible for conducting risk-based compliance testing within our affiliated investment advisory programs and mutual funds.
The Senior Manager is an individual contributor and will conduct testing to evaluate the effectiveness and adequacy of certain internal controls, policies, procedures and systems designed to achieve and/or monitor compliance with applicable regulatory requirements. The Senior Manager is expected to make recommendations to enhance and refine the testing program and will remain current on regulatory developments, enterprise-wide policies and procedures, as well as develop and foster strong partnerships across Compliance, Legal, Corporate Risk Management, and with business partners.
The Senior Manager will:
- Draft testing scopes that include applicable regulatory requirements and adhere to established compliance testing policies & procedures
- Conduct compliance testing to evaluate the effectiveness of internal controls for compliance with applicable regulatory requirements and corporate policy
- Complete assigned testing in accordance with the annual testing plan and adequately document the evaluation of the effectiveness of the internal controls
- Confirm that compliance issues identified during testing are followed-up on, and corrective action plans are properly executed to comply with corporate policy or applicable regulatory requirements
- Socialize and report testing results while working to ensure timely completion, including the validation of all corrective actions
- Maintain a strong working knowledge of Investment Advisers Act of 1940 and Investment Company Act of 1940 and the rules there under, as well as other federal and state regulations
- Perform other duties and special projects, as may be assigned
What you have
- At least 8 years of experience within financial services ideally with a deep understanding of investment advisory businesses, as well as testing standards/methodologies
- 5 years of experience in a Regulatory Testing/Examiner/Audit role
- Investment Adviser and/or Investment Company experience required
- Understanding of FRB, SEC, FINRA, OCC, Privacy and Anti-Money Laundering rules and regulations
- Familiarity with the execution of Second Line of Defense compliance testing including compliance risk management principles
What’s in it for you
At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. Our Hybrid Work and Flexibility approach balances our ongoing commitment to workplace flexibility, serving our clients, and our strong belief in the value of being together in person on a regular basis.
We offer a competitive benefits package that takes care of the whole you – both today and in the future:
- 401(k) with company match and Employee stock purchase plan
- Paid time for vacation, volunteering, and 28-day sabbatical after every 5 years of service for eligible positions
- Paid parental leave and family building benefits
- Tuition reimbursement
- Health, dental, and vision insurance
What you are good at
What you have
- At least 8 years of experience within financial services ideally with a deep understanding of investment advisory businesses, as well as testing standards/methodologies
- 5 years of experience in a Regulatory Testing/Examiner/Audit role
- Investment Adviser and/or Investment Company experience required
- Understanding of FRB, SEC, FINRA, OCC, Privacy and Anti-Money Laundering rules and regulations
- Familiarity with the execution of Second Line of Defense compliance testing including compliance risk management principles
Why Schwab?
At Schwab, “Own Your Tomorrow” embodies everything we do! We are committed to helping our employees unleash their potential and achieve their dreams. Our employees get to play a central role in disrupting a multi-trillion-dollar industry, creating a better, more modern way to build and manage wealth. We’re a modern financial services firm that stands apart from the industry, where you can go as far as your ambition takes you.
Hear from employees: What’s it like to work at Schwab!
The benefits of working at Schwab : a package designed to empower your health, wealth, career and life. Schwab is committed to building a diverse and inclusive workplace where everyone feels valued.
As an equal employment 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 policy.)
Schwab is also an affirmative action employer, focused on advancing women, minorities, veterans, and individuals with disabilities in the workplace. We believe diversity and inclusion are part of our success as a company and our purpose of serving every client with passion and integrity.