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.
This role provides a meaningful opportunity for a highly motivated accounting professional to play a critical part managing the ongoing accounting for Schwab's large portfolio of securities and interest rate derivatives. This includes accounting, analyzing, reporting, reconciling, remediating system issues, assessing fair value measurements, and testing system functionality. Performing this role requires ongoing interaction with the Treasury Capital Markets team, Treasury Settlement Services team, Finance Innovation Team, and external software consultants, acting as the Bank Accounting team liaison with these groups. As part of the Corporate Controller's Department, the Bank Accounting group is responsible for closing the books for the three bank subsidiaries and two trust companies.
What you have
Bachelor's degree in accounting or finance
CPA Preferred
5+ years GAAP accounting or finance experience, direct experience with securities accounting highly preferred
Relevant bank, financial services, and/or treasury experience a plus
Operational accounting and treasury and accounting systems experience in a high transaction volume environment
Solid proficiency in Microsoft Office, particularly Microsoft Excel
PeopleSoft or other ERP experience a plus
Experience with Alteryx, SQL, or similar data tools a plus
Ability to communicate complex information in a concise and understandable manner
Excellent analytical, organization, and project management skills
Ability to drive work independently and manage multiple projects that vary in scope and complexity simultaneously
What you'll do:
Manage the accounting, including journal entries and reconciliations, for the investment and derivatives portfolio across multiple legal entities.
Prepare variance analysis related to net interest revenue in the Bank Portfolios and partner with finance in updating monthly forecasts.
Prepare various schedules for the monthly financial close package, as well as schedules for regulatory reporting groups.
Document the designation or de-designation of cash flow & fair value/portfolio layer method hedging relationships in accordance with company policy
Liaise with the treasury team on new investment and funding products to ensure proper accounting treatment and test related system functionality.
Maintain and adhere to SOX controls and lead discussions with the SOX compliance team as well as participate in periodic internal audit reviews.
Work closely with the technology teams to improve and implement technology enhancements, including process automation.
Investigate and resolve any reconciling items within the portfolios by providing thorough analysis and documentation.
Respond to questions from the external auditors, SEC Reporting and other regulatory reporting teams regarding investments and other funding sources.
Consult with the Accounting Policy team on the accounting policies and practices related to investments.
Perform other ad hoc initiatives, as needed.
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
CO Salary Range: USD $100,000.00 - $140,000.00 / Year
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
Schwab is an affirmative action employer, focused on employing and advancing in employment, qualified women, racial and ethnic minorities, protected 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.