Managing Director, Internal Audit, Brokerage

As a company, we were established by Chuck over 40 years ago to champion Main Street over Wall Street, and to help Americans transform themselves from earners to owners. Through advocacy and innovation, we work to make investing more affordable, accessible and understandable for all. As we enter our fifth decade, we are looking for talented, innovative and driven people who believe they can help themselves, and our clients, create a better future.

The Internal Audit Department (IAD) of The Charles Schwab Corporation 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 Broker- Dealer Asset Management enterprise team is seeking a Managing Director, Internal Audit, Client and Product Distribution.  Collectively, the Broker-Dealer Asset Management team is focused on the execution of broker-dealer, asset management, and workplace services (i.e., retirement plan and stock plan services) audits that target governance processes, risk management programs, internal controls, and regulatory compliance. The team also shares responsibility for IAD’s regulatory agency interactions, Board and Executive Management reporting, and general relationship management.

A member of the IAD Leadership team reporting to the Managing Director, Internal Audit, Broker-Dealer Asset Management (Enterprise Team Lead), the Managing Director, Internal Audit, Client and Product Distribution will have responsibility for the independent and objective assurance activity designed to improve the Company’s operations and compliance with key regulations by evaluating and improving the efficiency of risk management, control, and governance processes.  Specifically, the role will be responsible for overseeing the internal audit activities related to the Company's retail acquisition channels and retail client service and support for domestic and international clients; acquisition, service, and support for third-party investment advisors on the broker-dealer custody platform and their end-clients; acquisition, service, and support for institutional clients for workplace services; and third-party product platforms. 

• →Promote consistent application of audit methodology, standards, and quality expectations.
• →Identify opportunities to leverage data analytics, automation, and emerging technologies within the audit process.
• →Monitor industry trends, regulatory developments, and emerging risks to ensure audit approaches remain relevant and effective.

• Oversee the audit portfolio’s business and project monitoring program to identify emerging risks;
• Lead business and project monitoring meetings with Senior Management, including serving as the key driver of the agenda/talking points; and
• Propose any updates to the Internal Audit risk assessment and/or audit plan based on the business and project monitoring conducted.

• Build and maintain strong relationships with executive and senior leadership in the business management, risk and compliance, legal, and supporting technology organizations to deliver a high-level of stakeholder satisfaction and credibility with senior leadership as a trusted advisor; and
• Support the communication of audit issues and recommendations clearly and effectively to stakeholders to achieve alignment on action plans and remediation strategies.

• Lead, coach, and develop high-performing audit talent, including supporting recruitment and onboarding efforts, as needed;
• Drive a culture of collaboration, accountability, professional growth, and continuous improvement;
• Support workforce planning, resource allocation, succession planning, and performance management; and
• Foster integrated teaming across business, data analytics, and technology audit functions.

• Evaluate the appropriateness of management draft responses to regulatory findings impacting the audit portfolio and oversee the completion of issue validation testing and closure, including service level agreement adherence, for the regulatory findings; and
• Participate in regulatory meetings, as needed, and provide responses to regulatory questions during exams.

Administration/Training: Completion of firm-wide and departmental administration and training requirements.

Strategic Initiatives and Special Projects: Assist in driving department and team strategic initiatives.

• 12+ years of experience specific to corporate internal audit in the brokerage/wealth management industry, or similar work with Big 4/consulting firm, preferably covering client acquisition, service, and support business activities across retail and institutional client segments.  Additional first and/or second line industry experience, securities regulatory experience, and/or international experience a plus.
• Demonstrated experience leading internal audit teams and a broad, large portfolio of audit activities, among a complex operational and regulatory environment and within rigorous timeframes.
• Strong understanding of governance, risks, and internal controls and the ability to evaluate and assess governance and the adequacy and efficiency of controls.
• Excellent analytical skills, including the ability to anticipate issues and to design appropriate solutions.
• Self-motivated to stay current on industry and regulatory issues and standard methodologies and imparts this knowledge to the team and the auditees.
• Clear understanding of prudential regulators’ expectations in the execution of audit work, issue validation, MRA validation, and the response to regulatory inquiries.
• Strong verbal and written communication skills with a shown ability to articulate effectively and authoritatively.
• Ability to cultivate strong working relationships with Internal Audit leaders, peers, and team members, internal lines of businesses, and regulators.
• Uses relationships and insights to successfully influence others, while building authentic and positive relationships to create alignment and support.
•  Bachelor’s degree required.  Advanced degrees a plus.
• CIA, CFSA, FINRA Series 7/24, CPA, or other relevant industry certifications preferred.