Model Risk Intern

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. Throughout the 9-week paid on the Model Risk Oversight Team, there will be inspiring opportunities that welcome you into the Schwab culture and immerse you into your role. The interactive program focuses on a variety of opportunities which feature a business track project, an intern cohort project, learning activities, volunteering in the community, a dedicated intern leader, networking, and exploring your unique personal strengths! Come “challenge the status quo” for the Summer of 2025 and learn what is means to be the next generation of Schwab change makers! 

The Model Risk Oversight (MRO) team is part of the corporate risk management department at Schwab. It reviews models used by the firm and measures the individual and aggregate model risks – the risks of misusing models and the risks of relying on erroneous model outputs. Within the MRO team, there are 3 core business tracks: 

• Model Validation 
• Software Engineering 
• Technical Validation 

What you have

We are looking for an individual to assist in developing the program and making sure we are aligned with regulatory guidance, industry practice, and enterprise policies. This role will be exposed to many components of the program and assist in: 

• Maintaining, updating, and rolling out changes to our policies and procedures.
• Monitoring issue management for issues sourced by MRO.
• Planning and remediating issues assigned to MRO.
• Maintaining RCSA risks and controls.
• Performing risk assessments.
• Organizing and providing training on model risk program requirements.
• Supporting testing activities such as audits and control testing.

Preferred Qualifications: 

• Pursuing a Bachelor’s with a planned graudation date between Fall 2026 and Spring 2027. 
• Knowledge of risk management concepts.
• High attention to detail. 
• Ability to define and follow processes. 
• Knowledge of policices, standards, proceudres, and understanding of the impact when thse documents are updated. 
• Ability to communicate effectively, both orally and in writing, with varying levels of stakeholders.

Your actual pay will be based on your skills and experience -- talk with your recruiter to learn more.