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Senior Manager Risk Appetite

3 months ago


Riverwoods, United States Discover Full time

Discover. A brighter future.
With us, you'll do meaningful work from Day 1. Our collaborative culture is built on three core behaviors: We Play to Win, We Get Better Every Day & We Succeed Together. And we mean it - we want you to grow and make a difference at one of the world's leading digital banking and payments companies. We value what makes you unique so that you have an opportunity to shine.
Come build your future, while being the reason millions of people find a brighter financial future with Discover.
Job Description:
Discover Financial Services is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories.
Discover's vision is to be the leading direct bank and payments partner and its mission is to help people spend smarter, manage debt better and save more so they achieve a brighter financial future.
At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers, and which is consistently awarded for both. We're all about people and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.
Position Overview:
This position will be responsible for supporting the development and execution of DFS's Enterprise Risk Appetite and Metrics program. Responsible for driving our objective of ensuring that Risk Appetite program is a competitive advantage and a value add to strategic/business decision making for the Company.
Responsibilities:

  • Supports the DFS's Risk Appetite Program, inclusive of Risk Appetite Framework, Risk Appetite Statement and Metrics, Policy and Procedures, risk measurement approach (risk metrics and limit calibration), and reporting.
  • Helps uplift DFS's Risk Appetite and Metrics program in accordance with current and changing standards, regulations, policies, the financial services industry environment and internal needs/demands.
  • Executes enhancements to risk appetite frameworks on refining key risk metrics and establishing linkage to various limit structures, building on existing reporting for senior management and Board, and extending the linkages between risk appetite and the firm's strategic planning, capital planning and risk identification processes.
  • Assist with the maturation of the Key Risk Indicator (KRI) program to increase the efficiency and effectiveness of risk and business metrics
  • Works with Risk Stripes (Credit, Operational etc.) and business control functions to communicate requirements, understand metric changes, and provide review and challenge.
  • Advises other risk functions on risk measurements and metric design while ensuring they maintain appropriate governance and control over metric selection, review, and monitoring.
  • Works constructively and collaboratively with others to accomplish timely resolution of requirements, findings, limit breaches and leadership objectives.
  • Uses analytics to understand themes and trends across multiple risk types (market, liquidity, credit, operational, strategic, compliance risks) along with the impact of those themes and trends and facilitate the discussion of actions to address the relevant issues.
  • Leads the development, maintenance, and implementation of a coherent set of DFS's ERM policies and standards related to risk appetite and risk profile reporting.
  • Forges strong partnerships with leaders throughout the company to enhance collaboration, advise and consult on risk reduction and mitigation strategies, and facilitate escalation when challenging first line decisions. Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported.
  • Responsible for our enterprise risk management frameworks and strategy and provide an independent view of aggregate risk faced by DFS. This visible role will work closely with business and risk oversight leaders (credit, market, liquidity, strategic, operational, compliance and legal risk) to drive necessary action and will communicate findings to executive management and the board of directors.


Minimum Qualifications
At a minimum, here's what we need from you:

  • Bachelors in Accounting, Finance, Economics, Business Administration and Management, Statistics, Analytics, Information Technology, or related.
  • 8+ years in risk management experience in a financial environment with specific focus on enterprise risk management or related
  • 5+ years in credit risk or non-financial (Compliance/Operational) risk management experience in a financial environment


Preferred Qualifications
If we had our say, we'd also look for:

  • Masters in Finance, Business, or Analytics
  • Consumer credit experience is a bonus along with loss estimation framework and methodologies and credit lifecycle.
  • Familiarity with stress testing and CCAR is a plus.
  • Familiarity with other financial risk stripes (liquidity, interest rate risk, capital) is a bonus.


Application Deadline:
The application window for this position is anticipated to close on Aug-11-2024. We encourage you to apply as soon as possible. The posting may be available past this date, but it is not guaranteed.
Compensation:
The base pay for this position generally ranges between $103,000.00 to $174,200.00. Additional incentives may be provided as part of a market competitive total compensation package. Factors, such as but not limited to, geographical location, relevant experience, education, and skill level may impact the pay for this position.
Benefits:
We also offer a range of benefits and programs based on eligibility. These benefits include:

  • Paid Parental Leave
  • Paid Time Off
  • 401(k) Plan
  • Medical, Dental, Vision, & Health Savings Account
  • STD, Life, LTD and AD&D
  • Recognition Program
  • Education Assistance
  • Commuter Benefits
  • Family Support Programs
  • Employee Stock Purchase Plan


Learn more at mydiscoverbenefits.com .
What are you waiting for? Apply today
All Discover employees place our customers at the very center of our work. To deliver on our promises to our customers, each of us contribute every day to a culture that values compliance and risk management.
Discover is committed to a diverse and inclusive workplace. Discover is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status. (Know Your Rights & Pay Transparency Nondiscrimination Provision)
Discover complies with federal, state, and local laws applicable to qualified individuals with disabilities and is committed to providing reasonable accommodations. If you require a reasonable accommodation to search for a position, to complete an application, and/or to participate in an interview, please email HireAccommodation@discover.com . Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.