Senior Manager – ALM Strategy: Interest Rate Derivatives and Hedging

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, accounting and / or ALM roles of progressive level of responsibility and a minimum of 5 years of experience at an institution with similar size and complexity as Charles Schwab.
• Experience with Calypso trade entry and hedge accounting modules or other alternatives required. Proficiency with PolyPaths, QRM, or other ALM software preferred.
• Strong familiarity with interest rate derivative markets, conventions, and industry standards, as well as direct experience with the application of hedge accounting and execution of linear and non-linear interest rate derivative transactions.
• Extensive experience in developing and executing hedge strategies, including street facing responsibilities for derivatives pricing and execution.
• Enthusiasm to work in white space and the ability to create innovative and automated analyses.
• Significant fixed-income investment modeling and analytics knowledge with attention to detail.
• 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 derivatives instruments including swaps, caps, floors, collars, spreads, swaptions, etc.
• Monitor currently employed 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).
• Support development of a new 1LOD interest rate risk policy, framework, and limit structure including justification, and be able to demonstrate to key stakeholders, regulators, and business partners the conceptual soundness and internal consistency of the framework.
• Develop analytics required to manage an interest rate derivatives portfolio with a focus on automation. Assist with the configuration and enhancement of front office systems used for management of interest rate derivatives positions and hedge accounting application.
• Partner with Treasury personnel to optimize our overall ALM positioning and support investment allocation decisions and strategy consistent with the firm’s strategic goals and ALCO guidelines.

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

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.