2019 Schwab Intern Academy – Internal Audit

Charles Schwab - United States4.1

Brendan Charles Hack

We believe that, when done right, investing liberates people to create their own destiny. We are driven by our purpose to champion every client’s goals with passion and integrity. We respect and appreciate the diversity of our employees, our clients, and the communities we serve. We challenge conventions strategically to create value for our clients, our firm and the world. We live and bring to life the concept of ‘own your tomorrow’ every day. We champion our employee strengths, guide their development, and invest in their long-term success. We hire optimistic, results-oriented, curious, innovative, and adaptable people with the desire to help our clients and one another succeed.

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.

Work with a company that has been challenging the conventions of the financial services industry for over 40 years through an internship with Charles Schwab. Schwab’s mission is to help our clients create a better future for themselves, their families, and their communities. It is summed up in our tagline – Own your tomorrow – and it permeates everything we do.

The design of the program invites interns to engage directly in Schwab’s culture of service, while challenging them with a blend of learning programs, team-building activities, networking opportunities, and enriching work projects. Features of our 2019 program include:

Business Track Project: Work with a Schwab organization that provides a meaningful and valuable experience to translate classroom learning into real business projects.
Intern Cohort Project: Partner with other interns to brainstorm, discuss learning experiences, and present solutions.
Learning Activities: Participate in facilitated classroom training, team discussions and events, individual assessments and activities, senior leader meetings, and on-the-job training.
Dedicated Intern Manager: Receive regular feedback from your manager, participate in career-related discussions, and provide your own feedback.
Strengths Application: Learn about yourself and how to apply your unique strengths, abilities, and goals to the work you do as part of Schwab’s ‘strengths-based’ culture.
Mentorship & Networking: Build your professional network by interacting with professionals across Schwab, including senior leaders, peers, and Schwab Intern Academy Alumni.

We look for students with:
Optimism and curiosity, who are inspired by a keen sense of purpose, awareness, and knowledge
Adaptability and flexibility, who enjoy working through cross-functional partnerships and collaboration to achieve a common purpose
An innovative and questioning mindset, who constantly look for better ways to do things, have a passion for service, and aim to exceed client expectations
Because interns are considered a primary pipeline for full-time opportunities, every intern candidate must be eligible for full-time employment upon graduation and must also meet the following requirements:

Enrolled in a current undergraduate program tracking to a bachelor’s degree
Plan to graduate between December 2019 and May/June 2020
Must be able to work full time and be on-site at assigned Schwab location during the 9-week program (June 10 to August 9)
Have specific skills as needed by the hosting Business Track
Schwab is recognized as an industry leader, and our welcoming culture will embrace your individuality and partner you with other like-minded and solution-focused students. We will invest in your summer experience by providing you direction and leadership for a robust and well-rounded internship, as well as helping you focus on a potential future career with Schwab.

Schwab Intern Academy is our centrally managed summer internship program that recruits juniors and rising seniors within a year of graduation. As an affirmative action employer, Schwab takes affirmative action to employ qualified minorities, women, individuals with disabilities, and protected veterans in our intern program. As a culture that values Diversity and Inclusion, Schwab encourages the application of Women, Minorities, Individuals with Disabilities and Protected Veterans.

Internal Audit Department

Charles Schwab Internal Audit Department provides independent and objective assurance designed to add value and improve the operations of Schwab for all stakeholders. Internal Audit assists Schwab to accomplish its objectives by using a systematic, disciplined approach to understand, evaluate, test and improve the effectiveness and security of business processes across the organization. Additionally we evaluate the effectiveness of risk management, control and governance processes. Internal Audit leadership is responsible for overseeing the execution of internal audits, identifying and implementing process improvements, monitoring vendor performance, and periodically report to governance committees, federal regulators and the Audit Committee. The Internal Audit Department is exposed to and communicates with all areas of the company. The department is split into six groups; Technology, Broker-Dealer, Bank, Corporate, Operations and Professional Practices. We are seeking interns in five Internal Audit Department groups.

What you will do

You will assist in planning and executing audits within various business units.
You will participate in internal team meetings, as well as meetings with the business.
You will perform internal audit controls testing and issue follow-up testing.
You will assist with Internal Audit operational tasks such as management of audit status, issue status, audit file preparation and implementation.
You will be responsible for managing your own tasks and letting teams know of your availability for work.

What you have:
Strong communication skills (written and verbal).
Self-starter with strong organizational skills.
Ability to track multiple projects (2-3) going on at the same time, demonstrating an ability to analyze and prioritize to meet multiple deadlines.
Ability to work as a member of a project team and cultivate a strong working relationship with external co-sourcing providers and internal lines of businesses.
Demonstrates willingness to learn and grow.
Initiative to research, understand and analyze a variety of situations or processes.
What you will learn

You will learn how to analyze and understand highly complex business problems that are part of operating in the financial industry.
You will spend time executing and examining various audit plans and learn control testing strategies.
You will learn how to execute internal audits in accordance with department procedures.
You will learn how to identify and assess inherent risk and controls to mitigate those risks.
You will learn how to perform audit issue follow-up and how document results of that testing.
You will experience and learn about how Internal Audit operates in a highly regulated environment.
You will learn how Internal Audit operates within the enterprise risk management framework as the third line of defense.
Internal Audit interns will be aligned to specific groups during their internship. All interns will have the opportunity to participate in department wide functions and will have exposure to other groups within Internal Audit. Five groups are hiring interns in various locations:


The technology department is responsible for the execution of infrastructure, application, and project audits. Infrastructure audits focus on systems and technology that support and secure Charles Schwab applications with a focus on areas such as cybersecurity, data center, IT operations, change management, network security, and cloud computing. Application audits focus on automated functionality and data integrity that support business processes such as segregation of duties, configuration management, system interfaces, and data processing. Project audits are assessments over key initiatives to determine whether intended business objectives were met and to identify risks or issues early.

Degree Programs Considered: Information Systems, Computer Science, Accountancy, Internal Audit, Business Technology

Broker-Dealer/Asset Management

The Broker-Dealer/Asset Management team provides internal audit coverage of the business process activities and compliance functions for Schwab’s registered domestic and international broker-dealers and registered retail and institutional investment advisors. The team’s scope includes audit execution and oversight for Schwab’s: (i) client-facing activities supporting retail investors and independent investment advisors on Schwab’s platform and their clients; (ii) client product solutions and market expertise; (iii) portfolio advisory services and research; (iv) asset management functions; (v) corporate client services, including stock plan services, retirement plan services, and compliance and employee trade monitoring solutions; and (vi) middle and back office operational functions.

Degree Programs Considered: Accountancy, Finance, Internal Audit


The Bank Internal Audit team is focused on the execution of Bank and Trust audits that target internal controls and regulatory compliance. Charles Schwab has three chartered banks that service clients. Bank audits cover areas such as corporate governance and risk management programs, as well as deposit and lending products that are offered to our clients. Trust audits focus on trust and custody services for employee benefit plans, and personal trust services.

Degree Programs Considered: Accountancy, Finance, Internal Audit


The Corporate Internal Audit team is responsible for execution of audits over the firm’s corporate and risk management functions. Corporate audits cover areas such as marketing, finance, treasury, accounting, vendor management, and human resources. Risk Management audits cover areas such as compliance, credit, liquidity, market and operational risk management. The team also performs testing to confirm remediation of audit issues and regulatory issues.

Degree Programs Considered: Accountancy, Finance, Internal Audit


The Internal Audit Operations team exists to support the broader Internal Audit department. The Operations team manages centralized processes such as scheduling audits, recruiting, onboarding, event planning and training programs. This position would focus less on the actual audit execution and testing involved in the process, and more on the management of the process. An operations intern would still learn the end to end audit process but would focus on supporting the process rather than executing the process.

Degree Programs Considered: Business, Marketing, Accountancy, Supply Chain, Communications, Internal Audit or other related degree.

Job Specifications
Relocation Offered?: No
Work Schedule: Days
Languages: English - spoken
Current Licenses / Certifications: None
Relevant Work Experience: No Work Experience
Position Located In: TX - Austin, IL - Chicago, AZ - Phoenix, CO - Lone Tree, TX - Westlake
Education: HS/GED
Job Type: Part Time

Category:Campus Programs/Internships
Activation Date: Sunday, September 2, 2018
Expiration Date: Saturday, December 1, 2018
Apply Here