Specialist ALM Strategy

Your Opportunity

The Treasury Capital Markets (TCM) function within Corporate Treasury manages fixed-income investments in several portfolios totaling over $350 billion in balance sheet assets and over $100 billion in off-balance-sheet brokered deposit agreement notional investments primarily for the benefit of the Charles Schwab Corporation and its banking and broker-dealer subsidiaries. The Asset Liability Management (ALM) team within TCM is 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 revenue forecasting.

As an individual contributor within the ALM Strategy team, you will play a key role in the overall strategic optimization of the balance sheet and the NIM profile through the development and execution of balance sheet strategies in collaboration with business partners, including investment portfolio managers, risk partners, and product leaders across the firm. 

In this role, you will support strategy for all on-balance-sheet and off-balance-sheet exposures, including fixed-income investment portfolios, off-balance sheet brokered deposit notional investments, interest rate derivatives, and income associated with all remaining components of the balance sheet with on strong emphasis on risk management. The ideal candidate has experience in Asset Liability Management for financial institutions, , fixed income investment experience, experience in derivatives application and hedge accounting treatment, the appetite and desire to think outside the box, and has experience in partnering with business and product leaders on ALM strategy implementation. This individual will work closely with the ALM Analytics team and ALM Modeling team to optimize our ALM positioning and support allocation decisions and strategy.

What you have

• Degree in finance, accounting, economics, or quantitative field required. Master’s degree desired; CFA a plus
• Strong quantitative skills with the ability to simplify, illustrate, and educate others on complex ALM concepts
• Experience with ALM systems and management tools a plus (https://e.g., PolyPaths, QRM)
• Knowledge of bank and broker-dealer balance sheets
• Experience in derivatives and hedge accounting application a plus
• Expertise in fixed-income mathematics and valuation
• Experience in developing balance sheet strategy for a banking institution
• Experience in the brokerage industry a plus
• Enthusiasm to work in white space and the ability to create innovative analyses to help drive the strategy for the portfolio
• Ability to multi-task while maintaining composure in a potentially stressful environment
• Excellent written and oral communication skills

What you'll do

• Support the development and evaluation of balance sheet hedging strategies using on and off-balance sheet instruments, including swaps, fixed income securities, and off-balance sheet notional investments with unaffiliated banks.
• Play a key role in achieving the risk-return optimization mandate within ALM
• Support the development of segmentation and the corresponding hedging strategies for non-maturity deposit portfolio, including considerations for liquidity, beta, and portfolio decay
• Work with business partners and stakeholders across the company to design and execute strategies as part of the ALM Derivatives program
• Support the enhancement of the ALM Derivatives program and capabilities to ensure that systems, processes, and procedures are in place to support desired program goals
• Assist with the management of a portfolio of interest rate swaps to optimally position the balance sheet across a wide range of interest rate scenarios
• Support implementation of balance sheet strategy framework, including measuring, monitoring, and managing capital, liquidity, and interest rate risks
• Partner with ALM Modeling team and ALM Analytics teams to develop tools, analytics, and insights to support balance sheet strategy execution and measurement
• Assist in the decomposition of net interest margin and net interest revenue, including drivers, risks and reward measurement, and NIM profile
• Assist in the daily positioning of investment portfolio planning, including excess reserve targets and operating levels, LCR application, and investment portfolio optimization
• Support the forecasting, planning, and analysis needs of the ALM forecasting team, including partnership in modeling NIM optimization and stabilization strategies (https://e.g. liquidity and beta strategies, duration optimization)
• Use best practice interest rate risk management methods to inform ALCO, support investor services business update messaging and materials, and influence strategic decision making across the firm
• Support ALM Positioning Strategy by leveraging existing capabilities, tools, and reports
• Leverage industry research and stay abreast of peer and industry trends

What’s in it for you

At Schwab, we’re committed to empowering our employees’ personal and professional success. Our purpose-driven, supportive culture, and focus on your development means you’ll get the tools you need to make a positive difference in the finance industry. 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

Apply Save Job