Senior Manager - Interest Rate Risk
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) team is a team within our Corporate Treasury department. We are responsible for balance sheet management strategy, portfolio and brokered deposit notional investment allocation decisions, balance sheet modeling and analytics, market risk management, ALM derivatives, and net interest income forecasting. The overall team manages fixed-income investments in several portfolios totaling over $300 billion, with approximately $500 billion in total balance sheet assets and $100 billion in off-balance-sheet brokered deposit agreement notional investments.
This is a role where you will be able to grow your expertise through consistent challenges with the backing of passionate leaders who will value your contributions and prioritize your development.
What you have
- 7+ years of career experience in treasury, finance, ALM and/or related interest rate risk oversight roles of progressive level of responsibility and experience at an institution with similar size and complexity as Charles Schwab.
- Demonstrated proficiency with interest rate risk in the banking book best practices and ALM concepts required. Prior experience with IRR production processes, interest rate risk limit setting and justification, and experience designing programs that connect capital, liquidity, and interest rate risks highly preferred.
- Strong knowledge of prudential regulations for liquidity, capital and interest rate risk.
- Experience with PolyPaths, QRM, or other ALM modeling software required..
- Enthusiasm to work in white space and the ability to create innovative analyses to help drive ALM strategy for the company.
- Strong fixed-income investment modeling and analytical skills with a high-level attention to detail.
- Ability to multi-task on multiple projects and deliverables while remaining calm in a potentially stressful environment.
- 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
What you'll do:
- Lead the development and ongoing management of a new 1LOD interest rate risk (IRR) policy, framework, and limit structure including justification of key metrics, and demonstration to key stakeholders, regulators, and business partners the conceptual soundness and internal consistency of the framework.
- Manage IRR by evaluating exposures based on simulation analyses (NII sensitivity / EVE sensitivity) and other key risk metrics. Regularly assess IRR measurement methodologies and assumptions and their impacts on exposures, including financial instrument modeling, optionality, scenario design, and behavioral characteristics.
- Recommend balance sheet positioning and hedging strategies that align with the interest rate risk framework.
- Support robust IRR governance through continued engagement with 2LOD and 3LOD stakeholders to monitor the IRR framework and recommend changes to limit structures as needed (e.g., risk appetite limits, early warnings indicator thresholds based on quantitative analysis). Support regulatory exams by attending discussions and providing materials and/or responses to requests.
- Partner with key stakeholders including Treasury personnel, Enterprise Finance, and internal oversight groups to optimize the firm’s overall ALM positioning and interest rate risk profile.
In addition to the salary range, this position is also eligible for bonus or incentive opportunities
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
- 7+ years of career experience in treasury, finance, ALM and/or related interest rate risk oversight roles of progressive level of responsibility and experience at an institution with similar size and complexity as Charles Schwab.
- Demonstrated proficiency with interest rate risk in the banking book best practices and ALM concepts required. Prior experience with IRR production processes, interest rate risk limit setting and justification, and experience designing programs that connect capital, liquidity, and interest rate risks highly preferred.
- Strong knowledge of prudential regulations for liquidity, capital and interest rate risk.
- Experience with PolyPaths, QRM, or other ALM modeling software required..
- Enthusiasm to work in white space and the ability to create innovative analyses to help drive ALM strategy for the company.
- Strong fixed-income investment modeling and analytical skills with a high-level attention to detail.
- Ability to multi-task on multiple projects and deliverables while remaining calm in a potentially stressful environment.
- 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
What you'll do:
- Lead the development and ongoing management of a new 1LOD interest rate risk (IRR) policy, framework, and limit structure including justification of key metrics, and demonstration to key stakeholders, regulators, and business partners the conceptual soundness and internal consistency of the framework.
- Manage IRR by evaluating exposures based on simulation analyses (NII sensitivity / EVE sensitivity) and other key risk metrics. Regularly assess IRR measurement methodologies and assumptions and their impacts on exposures, including financial instrument modeling, optionality, scenario design, and behavioral characteristics.
- Recommend balance sheet positioning and hedging strategies that align with the interest rate risk framework.
- Support robust IRR governance through continued engagement with 2LOD and 3LOD stakeholders to monitor the IRR framework and recommend changes to limit structures as needed (e.g., risk appetite limits, early warnings indicator thresholds based on quantitative analysis). Support regulatory exams by attending discussions and providing materials and/or responses to requests.
- Partner with key stakeholders including Treasury personnel, Enterprise Finance, and internal oversight groups to optimize the firm’s overall ALM positioning and interest rate risk profile.
In addition to the salary range, this position is also eligible for bonus or incentive opportunities
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.