Reconciliation Specialist

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.

Charles Schwab Trust Bank (Retirement Business Services) provides trust and custody services for qualified retirement plans, primarily 401(k) plans. Schwab Trust Bank serves Schwab’s bundled retirement product and is the industry leader in providing trading and custody services through Independent Record Keepers. Our goal is to provide excellent service in a rapidly growing business. As a member of the Operations Control department’s Reconciliation and Reporting team, you will be responsible for performing detailed reconciliations and researching complex trading and distributions related activities while contributing to a collaborative team environment.

As the Reconciliations Specialist, you will utilize various applications for reconciling trading and distribution related activities through multiple trading platforms and across numerous banking vendors. Responsibilities include documenting issues in a clear and concise fashion, maintaining effective procedural documents and cross-training with peers to attain a broad functional knowledge.

What You’ll do:

• Perform various reconciliation functions with a high degree of accuracy, including performing in-depth research on breaks and identifying true root cause for outages.
• Communicate with leadership issues that should be escalated to ensure risks are mitigated, including keeping them apprised of any team trends or process risks.
• Serve as the manager/team lead’s “eyes and ears” on the floor.
• Perform timely and detailed updates to procedures for functions owned.
• Identify and collaborate effectively with team members and subject matter experts on other teams to resolve issues, answer questions, notify them of potential upcoming issues, etc.
• Participate in projects effectively, taking ownership over related tasks and seeing them through to completion with minimal follow-ups.
• Hit deadlines associated with information requests and other take-aways.
• Perform effective peer reviews to ensure accuracy and utilizing situational awareness to identify emerging issues in related functions.
• Identify possible process improvements after becoming proficient in a reconciliation function.
• Effectively train team members on functions, making sure to identify and share the “why” behind a process.
• Perform effective User Acceptance Testing (UAT) for systems regularly used in daily functions.
• Ensure statistics are tracked, reported accurately and deadlines are met.

What you have

To ensure that we fulfill our promise of "challenging the status quo," this role has specific qualifications that successful candidates should have.

Required Qualifications:

• College Degree or equivalent banking and/or trust experience.
• 2+ years brokerage, transfer agent, bank, or trust operations experience.
• Ability to work in a fast-paced environment, both independently and as part of a team.
• Excels in prioritizing daily functions and dealing with multiple deadlines and high volumes of work.
• Detail oriented, with strong analytic, research and communication skills.
• Strong sense of ownership of assigned functions and willingness to research complex issues
• Possess advanced working knowledge of Microsoft Office applications.
• Ability to quickly cross-train on functions to back up co-workers.
• Ability to provide exemplary service to internal Client Service Managers and other business partners.

Preferred Qualifications:

• Experience with bank or trading reconciliations.
• 2+ years risk and analysis experience.

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