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.

We are seeking a highly skilled and experienced Director of Schwab Equity Research. This role resides within the Quantitative Innovation research team within Portfolio Construction Solutions. This research team contributes to a wide range of strategies and offers across Schwab Asset Management and Charles Schwab & Co.

The Equity Research Business Is An Important Product For Schwab And Is Heavily Relied Upon By Many Schwab Clients. This Individual Will Lead The Quantitative Equity Research Team Responsible For The Rating Of 3,000 US Stocks And 4,000 Non-US Stocks And Oversee The Team Responsible For Thematic Research. The Leader Will Guide The Search And Refinement Of New Factors, Themes, And Usage Of Artificial Intelligence To Enhance Our Research For The Benefit Of Our Clients Such As:

• individual investors
• Schwab representatives, and
• Schwab Asset Management

Equity advice is an important element of Schwab’s overall advice offer.

• Schwab representatives make about 4,000 recommendations per month on individual stocks and those recommendations are primarily driven by Schwab Equity Ratings.
• Schwab Asset Management has approximately $5 billion invested in mutual funds and ETFs whose performance is greatly influenced by the performance of equity research.

Responsibilities:

• Research Oversight:
• Oversee the development and implementation of cutting-edge quantitative investment strategies.
• Review and approve research output, ensuring rigorous methodology and sound conclusions.
• Monitor and assess the performance of existing strategies.
• Identify opportunities for new research initiatives, emerging trends and new quantitative techniques including machine learning, NLP, and broader artificial intelligence.
• Work closely with Leadership to develop ideas, enhance products, and generate ideas for new investment solutions to enhance our client’s financial picture.
• Model Development and maintenance:
• Collaborate with the team and oversee the development and refinement of sophisticated models.
• Ensure the robustness and accuracy of models.
• Backtest models to evaluate historical performance.
• Represent the team in internal oversight committees including Model Risk Oversight, Governance Risk Compliance, Audit, and Compliance and Legal

• Production Oversight:
• Continually monitor the control environment for production models which entails assuring the processes are up to date for weekend model production.
• Assure that all known risks are covered and provide evidence thereof compliance and archival of all data inputs and outputs for the model according to SER/FINRA requirements.
• Team Leadership:
• As necessary, recruit and develop a high-performing team of quantitative researchers and developers.
• Foster a collaborative and innovative team culture.
• Provide mentorship and guidance to team members.
• Set clear performance expectations and provide regular feedback.
• Client Engagement:
• Represent the team in client meetings and presentations.
• Communicate complex quantitative concepts in a clear and concise manner.
• Build strong relationships with clients and internal stakeholders.

What you have

Required:

• A minimum of 10+ years of investment industry experience
• Bachelor’s degree in a related field is required (Statistics, Econometrics, Computational Finance, Finance, Operations Research, Computer Science, or another quantitative field)
• Advanced degree in quantitative finance, economics, mathematics, or a related field.
• At least 3 years of experience directly managing quantitative research teams (team reported directly to you, you are responsible for hiring, performance appraisals, etc.).
• Deep understanding of quantitative investment strategies, including equity factor investing, stock selection models, machine learning and natural language processing
• Strong programming skills in Python, R, or similar languages.
• Comfort and ability to multi-task and prioritize workflow effectively.
• Outstanding communication and presentation skills and an ability to discuss and present complex analytics.
• Teamwork, enthusiasm, intellectual curiosity, well organized, result oriented and positive attitude.

Preferred:

• CFA designation and/or Ph.D. is preferred.
• Investment industry experience preferably in a portfolio manager role and/or research lead role at a large buy side firm.

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

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