Manager, ALM, Market Risk Modeling

Charles Schwab; Westlake (TX); Hybrid; USD 120,000 - 180,000; Full time

Benefits offered by this job

401(k) with company match

Employee stock purchase plan

Paid time for vacation, volunteering,

Sabbatical after 5 years

Parental leave and family building

Tuition reimbursement

Health, dental, and vision insurance

Job summary

Charles Schwab is seeking a skilled ALM & Market Risk Modeling professional to own front-office modeling for interest rate risk and balance sheet optimization. You will develop and operate an ALM framework in collaboration with portfolio managers, risk partners, and product leaders to improve NII forecasts and risk measurements.

The role covers model development through backtesting, automation, and documentation, with opportunities to influence liquidity, capital strategy and hedge accounting

Qualifications

• Bachelor’s degree in a quantitative field (e.g., Applied Mathematics, Engineering, Finance, Economics, Statistics)
• Three years of relevant experience in ALM, treasury, fixed income, market risk, or quantitative analytics
• Strong quantitative skills in financial modeling and analytics, particularly related to fixed income products
• Hands-on experience with ALM and/or interest rate risk concepts (NII and EVE sensitivities, hedging strategies, fund transfer pricing)
• Experience in building automation workflows and data pipelines with Python/SQL in a highly regulated environment
• Strong written and oral communication skills
• Highly motivated self-starter with ability to work in ambiguity and identify opportunities

Responsibilities

• Perform front-office modeling, analytics, and optimization focused on interest rate risk management and fixed-income derivatives
• Develop and enhance the ALM model supporting BAU NII forecast and NII sensitivity, the EVE sensitivity model, and key assumptions
• Support production processes for financial planning, net interest income forecasting, and market risk measurement
• Contribute to initiatives to enhance, streamline, and automate balance sheet modeling, sensitivity analysis, and backtesting
• Partner with Model Risk Oversight to maintain documentation, support validations, and comply with model risk management standards
• Collaborate with key partners to deliver balance sheet analytics informing investment, liquidity, and capital strategies and risk management
• Leverage industry research to stay current on peer practices, vendor capabilities, and regulatory/industry trends relevant to ALM and market risk

Skills

Python

SQL

Communication

Self-starter

ALM modeling

Risk management

Fixed income

Education

Bachelor's degree in a quantitative field

Tools

PolyPaths

QRM

Job description

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) & Market Risk Modeling team within the Corporate Treasury develops and maintains models used for financial planning and market risk management across Schwab’s approximately $500 billion balance sheet, as well as more than $70 billion of off-balance-sheet notional investments and more than $130 billion notional of derivatives.

As an individual contributor, you will play a key role in balance sheet strategy and interest rate risk management. You will help optimize the balance sheet and net interest margin profile by developing, enhancing, and operating a robust ALM modeling framework in close partnership with investment portfolio managers, risk partners, and product leaders across the firm.

In this role, you will support the team’s ownership of key models, including the ALM model and the Economic Value of Equity (EVE) sensitivity model. Your responsibilities will span the full model lifecycle—development, enhancement, implementation, testing, sensitivity analysis, performance monitoring, backtesting, benchmarking, documentation, and issue remediation—as well as production of business-as-usual (BAU) net interest income (NII) forecast and interest rate risk measurements. The modeling work may involve all aspects from investment allocation to liquidity planning, to capital management, to interest rate risk hedging and hedge accounting. You will also contribute to the team’s automation framework to streamline our production workflow.

What you have

Required Qualifications

• Bachelor’s degree in a quantitative field (e.g., Applied Mathematics, Engineering, Finance, Economics, Statistics, or a related discipline)

• Three years of relevant professional experience (or a combination of professional experience and graduate studies) in ALM, treasury, fixed income, market risk, or quantitative analytics

• Strong quantitative skills in financial modeling and analytics, particularly related to fixed income products (e.g., mortgage-backed securities)

• Hands‑on experience with ALM and/or interest rate risk concepts (e.g., NII and EVE sensitivities, hedging strategies, fund transfer pricing, etc.)

• Experience in building automation workflows and data pipelines with Python/ SQL/etc. in a highly regulated environment

• Strong written and oral communication skills

• Highly motivated self‑starter

• Comfort working in ambiguity (“white space”) with the ability to independently identify opportunities and create innovative solutions that support balance sheet strategy and risk management

Preferred Qualifications

• An advanced degree is preferred.

• CFA, FRM, etc. designations are a plus.

• Strong knowledge of and hands‑on experience in the PolyPaths system (AppPort/BatchCal/ALM/Enterprise) or QRM is highly preferred.

• Direct experience in dynamic balance sheet simulation or forecasting

• Direct experience in modeling derivatives and associated hedge accounting

• Direct experience with liquidity and capital management or how they are implemented in financial planning forecast

What you’ll do:

• Perform front-office modeling, analytics, and optimization with a focus on interest rate risk management and expert knowledge of fixed‑income, derivatives, and balance sheet modeling.

• Develop and enhance the ALM model that supports BAU NII forecast and NII sensitivity measurement, the EVE sensitivity model, and key underlying modeling assumptions.

• Support production processes for financial planning, net interest income forecasting, and market risk measurement.

• Contribute to initiatives to enhance, streamline, and automate balance sheet modeling, sensitivity analysis, and backtesting.

• Partner with Model Risk Oversight to maintain model documentation, support validations, and comply with model risk management standards.

• Collaborate with key partners to deliver balance sheet analytics that inform investment, liquidity, and capital strategies as well as risk management.

• Leverage industry research and remain current on peer practices, vendor capabilities, and regulatory/industry trends relevant to ALM and market risk.

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

What’s in it for you

At Schwab, you’re empowered to shape your future. We champion your growth through meaningful work, continuous learning, and a culture of trust and collaboration—so you can build the skills to make a lasting impact. 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