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Managing Director, Retail and Institutional Client Brokerage Internal Audit

Charles Schwab

At Schwab, “Own Your Tomorrow” embodies everything they do.

Your Opportunity

Charles Schwab’s Internal Audit Department provides independent and objective assessments to determine if all
significant risks are identified and appropriately reported by Management and risk functions to the Board and Executive
Management, to evaluate whether risks are adequately controlled, and to challenge Executive Management to improve
the efficiency of governance processes, risk management, and internal controls

The Managing Director, Retail and Institutional Client Brokerage Internal Audit role will be responsible for overseeing the
internal audit activities related to The Charles Schwab Corporation’s (CSC) two operating segments, Investor Services and
Advisor Services, which includes the Retail Investor, Workplace Financial Services, and Advisor Services business units. For
Investor Services, the role will generally support the internal audit activities over CSC’s retail client acquisition channels
and retail client service and support, domestically and internationally (CSUK, CSHK, TDA Singapore). The role will also
include audit support for CSC’s trading and education offerings (including TD Network), cover CSC’s futures and forex
product offerings (Charles Schwab Futures and Forex LLC), and review the Workplace Financial Services businesses that
serve corporate clients with administering retirement or 401(k) plans (Schwab Retirement Plan Services, Inc.),
administering equity compensation plans, and helping firms that have a responsibility to monitor employee trading and
acting as the designated broker for their employees. For Advisor Services operating segment, the role will cover the
internal audit activities related the acquisition, service and support, and operations for third-party investment advisors on
CSC’s brokerage custody platforms.

The Managing Director will play a material role in delivering the Internal Audit Department’s responsibilities related to
retail and institutional brokerage client-facing audit oversight, including covering the control environments mitigating key
risks, including, but not limited to, operational, compliance, fiduciary, and conduct. The role will be instrumental in
ensuring internal audits in the space are appropriately identified and scoped, and effectively and timely executed to
provide third line assurance to our stakeholders, including business management, Audit Committee of the Board of
Directors, and regulators, and will be a key third line business partner for the Investor Services, Trading and Education,
International Services, Advisor Services, and Workplace Financial Services business units. Though year-over-year audit
plans vary in size, the typical scope will generally be approximately 35-45 reviews annually.

The primary internal contacts for this role will be Managing Director and Director level roles, primarily in the Investor
Services, Trading and Education, International Services, Advisor Services, Workplace Financial Services, Compliance, Legal,
and Internal Audit organizations. The nature of the interactions will predominantly be in support of audit activities,
including leading discussions to discuss key business unit initiatives and emerging risks, outline our risk assessment and
annual audit plans, summarize our testing results and conclusions for audits performed, and conclude on issue validation
and closure.

Externally, the role will liaise with regulators, as applicable, through the course of Federal Reserve Bank continuous
monitoring meetings with the Internal Audit team as well as attend/support continuous meetings with first line business
partners supporting CSC’s client-facing brokerage areas. This role will also support any other regulatory examinations
performed by FINRA, SEC, NFA, CFTC, or international regulators.
What you are good at

The Managing Director, Retail and Institutional Client Brokerage Internal Audit role will report to the Managing Director,
Head of Broker-Dealer/Asset Management Internal Audit (BDAM) and partner closely with Directors/Managing Directors
on the audit team. Within the scope of retail and institutional client brokerage business activities, core responsibilities
of the role will include:

• Leading Internal Audit’s annual and ongoing risk assessments to maintain a current auditable entity universe of
activities to capture any new products, services, and/or business activities; identify relevant regulations and
internal policies and requirements for assessment; rate inherent risks, management control activities, and
residual risks, including identification of any emerging risks; and create and maintain the annual audit plan to
review the governance and controls over the firm’s retail and institutional client brokerage activities, using a
risk-based approach.

• Organizing and leading the Internal Audit teams in support of the audit plan’s execution, including identification
of internal or external subject-matter-resources needed, and responsibility for scheduling and delivery
monitoring to ensure that audit plan timelines and budgets are achieved. Role will require planning skills to
ensure that the body of work is completed with a high level of quality, timely, and within assigned budgets.

• Overseeing the Internal Audit teams’ execution of the individual internal audits within the plan that cover
governance processes, risk management programs, internal controls, regulatory compliance, and key business
projects, including supporting and effectively challenging the team in the identification of risks and key controls
for review and testing and use of professional judgment to assess and rate the level of residual risk posed by
any issues identified and the quality of the overall control environment supporting the areas under review.

• Overseeing other audit activities related to the business scope, including validation testing and closure of audit
issues and supervising retrospective reviews performed over any adverse events.

• Participating in regular meetings and ongoing partnership with executive and senior leadership (Managing
Directors) in the first and second lines through Internal Audit’s ongoing business and project monitoring
programs to stay informed on organizational changes, key initiatives, and emerging risks and to address any
escalated concerns raised throughout the audit process.

• Supporting Internal Audit’s regulatory agency interactions, predominantly with the Federal Reserve Board,
related to continuous monitoring and regulatory examinations.

• Participation in various strategic initiatives for the Internal Audit Department supporting short-term and longerterm
priorities (three to five years).

• People leadership role within the BDAM audit team, including identification of any skill gaps and talent needs,
assisting in recruiting and onboarding with Talent Advisory, and ongoing coaching and career development of
direct reports and other team members.

• This role will require a significant amount of judgment in carrying out responsibilities, including assessing the risk
ratings applied to the auditable entities in our scope, identifying top-down factors considered in determining our
annual audit plan, oversight of scoping decisions made during the planning phase for each audit and importantly
during the reporting phase with respect to decisions on audit issue ratings and overall audit report rating, and
people-related topics, including future hiring, talent development and promotions, and organizational design
What you have

• A minimum of 12 years of experience, of increasing responsibility, in Internal Audit Leadership roles for
diversified financial services firms at a similar level of scale, preferably focused on broker-dealer business

• Demonstrated capacity managing internal audits and associated team members within a complex operational
and regulatory environment with the ability to lead multiple project teams and cultivate a strong working
relationship with external co-sourcing provider, regulators, and internal lines of businesses.

• Strong grasp of industry fundamentals, regulatory requirements and issues, and best practices for assigned
areas and ability to impart this knowledge to the team and the auditees.

• Demonstrated ability to work in a fast-paced environment, respond to shifting requirements and business
obstacles, and achieve practical solutions.

• Ability to initiate, build, and cultivate strong relationships inside and outside the firm; highly collaborative;
comfortable with debate and willing to challenge the status quo; navigates and activates alignment across
organizational silos.

• Strong verbal and written communication skills with the ability to collaborate with all levels of staff including
senior management.

• Exceptional relationship management and influencing skills required with the ability to navigate complex and
nuanced interpersonal issues, balance priorities of different stakeholders, and build trust among business

• Strong emotional intelligence/maturity and senior level executive presence.

• Team player with a strong focus on collaboration.

• Strong analytical skills and demonstrated judgment to evaluate risks, costs, and benefits.

• Demonstrated eagerness and ability to seek and adopt new technological solutions.

• Strong leadership and business acumen including the ability to adapt to change and drive business growth,
conceptualizing and implementing strategic objectives, and navigating dynamic practice areas.

• CPA, CIA or other applicable certifications (CFSA, Series 7) preferred.

• Bachelor’s degree required; advanced degree preferred.

• Colorado Compensation – Target salary of $250,000 – $325,000. Your actual pay will be based on your skills and experience. Please talk with your talent advisor to learn more.

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. Explore further .

Schwab is committed to building a diverse and inclusive workplace where everyone feels valued. As an Equal Opportunity Employer, our policy is to provide equal employment opportunities to all employees and applicants without regard to any status that is protected by law. Please click here to see the policy.

Schwab is an affirmative action employer, focused on advancing women, racial and ethnic minorities, veterans, and individuals with disabilities in the workplace. If you have a disability and require reasonable accommodations in the application process, contact Human Resources at applicantaccessibility@schwab.com or call 800-275-1281 .

TD Ameritrade, a subsidiary of Charles Schwab, is an Equal Opportunity Employer. At TD Ameritrade we believe People Matter. We value diversity and believe that it goes beyond all protected classes, thoughts, ideas, and perspectives.

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Managing Director, Retail and Institutional Client Brokerage Internal Audit

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Charles Schwab

At Schwab, “Own Your Tomorrow” embodies everything they do.

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