Your Opportunity
Schwab Trade Fraud and Error Control team (TFAC) operates under the Schwab Trading Operations organization and is a crucial protection element in reducing the firm’s risk exposure as well as safeguarding overall brand name reputation.
The primary responsibility for the TFAC team is to ensure daily and monthly monitoring and reconciliation of error accounts, trade error resolution, internal account risks reporting, resolution of fraud cases with trading activity all in the effort to protect the clients and mitigate risk for the firm.
The team also resolves and supervises fraud trade errors logged for the firm and ensures that fraud events are researched (to facilitate implementation of detection tools) and ensure all trading fraud is documented, tracked, and reviewed for irregular trends.
Team members collaborate closely with numerous teams including Compliance, Legal, Financial Crimes, Advisor Services, and various Trade Support groups to accomplish these goals.
As a Manager, you will be part of Schwab’s Trading Operations Department / Trading Operations Fraud & Control (TFAC) team.
Primary tasks for a TFAC Manager include :
- Trade Error Resolution filing, resolution & documentation of all trading fraud events
- Reconciliation of fraudulent trade events including tracking trade details, account elements and market conditions of the fraud event, covering any exposed positions, compiling statistics to be used in fraud detection research, and reconciling error account activity
- Oversight and monitoring of the reconciliation of internal Accounts.
- Supervisory oversight for Reporting Reviews
- Supporting research for inquiries received by Compliance.
- Support the identification and implementation of process and system improvements and promote effective controls
- Work closely with business partners to communicate out changes instituted by TFAC as well as assess impact of potential activities and system changes conducted outside Trading Operations
What you have
You demonstrate these behaviors :
- Familiarity with regulatory reporting bodies (FINRA, NASDAQ, SEC)
- Strong analytical skills with ability to research sophisticated regulatory submissions / inquiries
- Excellent risk awareness and attention to details to accurately identify potential impact to the firm (either regulatory risk or unresolved risk due to fraud activity)
- Strong verbal and written communication skills
- Strong interpersonal skills for building and maintaining close working relationships with internal partners and stakeholders
- Ability to excel in a dynamic setting, adaptable and proactive mind set toward high priority tasks
- Strong ability to multi-task, process quickly and a desire to work in a collaborative team environment.
- Ability to work overtime when conditions warrant
- Flexible and fast learner with a drive to continuously improve processes
- Self-motivated teammate with ability to work independently with minimal guidance / training
Required Qualifications :
- A valid and active FINRA Series 7, 63 licenses required
- Extensive knowledge of industry regulations, regulatory bodies, utilities, and exchanges
- Must have a good understanding of the various products that Schwab and its customers conduct business in
- Excellent computer skills and knowledge of Microsoft Office and Access database
- Self-motivated teammate with ability to work independently with minimal guidance / training
Preferred Qualifications :
- 5+ years of experience in the financial services industry preferred
- 3+ years of experience with account reconciliation and trade resolution
- Experience with fraud review / reconciliation and reporting
- Series 9 / 10 or 24, 57 preferred
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.
Manager, Trading Operations
As a Manager, you will be part of Schwab’s Trading Operations Department/Trading Operations Fraud & Control (TFAC) team. Schwab Trade Fraud and Error Control team (TFAC) operates under the Schwab Trading Operations organization and is a crucial protection element in reducing the firm’s risk exposure...
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