Schwab: Sr. Manager – Business Strategy and Analytics (Deposit Products)

Join a small team of quant strategists focused on deposit products, create strategies and models involving billions of dollars in deposits.

Schwab Company: Schwab
Location: San Francisco, CA

Job ID: 1112-20693

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We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client's goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of 'own your tomorrow' every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.

Our Opportunity:
Charles Schwab has been a leader in financial services for four decades, working to make investing more affordable, accessible and understandable to all. Driven by our purpose to champion every client's goals with passion and integrity, we're committed to providing an environment that respects and appreciates the diversity of our employees, our clients, and the communities we serve. Our goal, as seen through clients' eyes, is that Schwab continuously improves on being a premier financial service provider through best in class service, technology, products, people and advice. The Charles Schwab Bank and Cash Strategy team is a strategy and integration group responsible for delivering high impact business strategy , financial and data analysis, competitive analysis and new product innovation to serve our client's cash and banking needs.

What you'll do:

You will join a small team of "quant strategists" focused on deposit products. You will regularly create strategies and models involving billions of dollars in deposit liabilities with major financial implications for the company.

An individual in this role will have the opportunity to gain substantial exposure and develop a strong reputation by working on data-driven strategies of direct concern to the most senior leaders of the firm. This role is unique in that it offers the opportunity to work on strategic projects that have a firm-wide impact while at the same time building subject matter expertise and industry knowledge in both the banking and brokerage industries.

You will analyze and deliver recommendations on everything and anything related to bank and brokerage cash on the deposit (liability side) of the balance sheets of the bank, brokerage, and the parent company, such as:
  • Deposit pricing strategy
  • Sweep cash pricing strategy on new brokerage products
  • Managing eligibility requirements for ready-to-invest sweep cash products such as bank sweep, Schwab One Interest, and sweep money market funds
  • Analyzing the impact of constantly evolving regulations such as money market fund reform and the Liquidity Coverage Ratio (LCR) on deposit product strategy and balance sheet management
  • Strategy for Charles Schwab Bank's deposit products, such as checking, savings, payments, and Bank Sweep products
  • Modeling to explain and predict/forecast cash balance movements and long-term cash balance trends, including the impact of market movements on cash
  • Competitor analysis of our bank and brokerage competitors
  • Financial models to assist in optimizing the deposit side of the balance sheet
  • Stress test modeling
  • Corporate forecasting of cash balances
  • Segment analysis of differential cash strategies by customer segments across Schwab's different enterprises and products

What you have:

The ideal background for this role is a combination of financial modelling, statistics, enough computer science/data skills to be able to pull needed data for analysis out of Schwab's systems, great presentation and communication skills, and business strategy ability, with financial industry background a strong plus.

Specifically useful skills include: Excel modeling, multivariate statistics/econometrics, PPT, Tableau, SQL (writing SQL code won't be your primary job, but you should be familiar with how databases work and be able to pull your own data from relational database tables as needed for analysis), SAS, Eviews or even R (though we are more of a SAS/Eviews shop not an R shop but hope to get there soon).

Longer term, the company is moving towards analyzing larger and larger amounts of data in making decisions, and so a background or interest in data science could be a significant plus. Technically oriented MBA a plus but not required.

Compensation depending on experience. We would consider a Manager-level hire for this role if the person brings sufficient skills and ability along with a long-term commitment to the financial services industry.

What you'll get:
  • Everyday Wellness: Healthy Rewards, Onsite Fitness Classes, Healthy Choices, Wellness Champions
  • Financial Fitness: 401k Match, Employee Discounts, Personalized advice, Brokerage discounts
  • Work/Life Balance: Sabbatical, New Mothers returning to work Program, Tuition Reimbursement Programs, Time off to volunteer
  • Inclusion: Employee Resource Groups, Commitment to diversity, Strategic partnerships
  • Not just a job, but a career, with an opportunity to do the best work of your life

Learn more about Life@Schwab.

Charles Schwab & Co., Inc. is an equal opportunity/affirmative action employer committed to diversifying its workforce. All applications are considered without regard to race, color, religion, sex, sexual orientation, national origin, age, disability, protected veteran status (disabled veterans, recently separated veterans, active duty wartime or campaign badge veterans, Armed Forces service medal veterans), or based on any individual's status in any group or class protected by applicable federal, state or local law.