Principal Market

1 month ago

Chicago, Illinois, 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:
Responsible implementing, maintaining, and enhancing market and liquidity risk oversight. Reviews and evaluates both market and liquidity risk management processes to ensure compliance with internal policies and regulatory requirements, identify areas for enhancements, and safeguard business growth with sound risk management. Provides reports to senior management and the Board of Directors. Works directly with business lines and/or functions, drives oversight discussions, and plays a leadership role in designing and managing independent reviews per plan. Actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.
What You'll Do
Reporting to Senior Manager of Market & Liquidity Risk, the Principal Market & Liquidity Risk Specialist is responsible for implementing, maintaining, and enhancing the market and liquidity risk oversight framework. This is an individual contributor role in which you will review and evaluate both market and liquidity risk management processes to ensure compliance with internal policies and regulatory requirements, identify areas for enhancements, and safeguard business growth with sound risk management. You will provide independent review reports to senior management and the Board of Directors. Additionally, you will work directly with business lines and/or functions, drive oversight discussions, and play a leadership role in designing and managing independent reviews per plan or on an ad hoc basis as needed.
How You'll Do It

  • Oversees market risk management process, including assessing interest rate risk (IRR) measurement methodology and assumptions, yield curve constructs, and balance sheet positioning strategies to ensure regulatory compliance in line with firm's IRR profile.
  • Oversees liquidity risk management process, including assessing liquidity stress testing framework, contingency funding plan, cash flow projections, collateral management, and LCR/FR 2052a assumptions to ensure regulatory compliance in line with firm's liquidity risk profile.
  • Engages first line in annual updates of risk inventory, Risk Appetite Limits, Key Risk Indicators (KRIs) and Early Warning Indicators (EWIs), including addition, deletion and remapping of Limits/KRIs/EWIs, and thresholds resetting based on quantitative & qualitative analysis.
  • Validates risk appetite and KRI metrics quarterly to ensure accuracy of reporting to senior management and the Board.
  • Validates economic capital modeling process for sizing economic capital needed for IRR.
  • Reviews the Company's funds transfer pricing practices to ensure appropriate allocation of risk and rewards among business lines.
  • Undertakes peer banks benchmarking analysis to ensure consistency and/or identify gaps with industry best practices; creates presentations to senior management and the Board on independent review and ongoing monitoring; supports regulatory exams by attending discussions and providing materials and/or responses to requests.

Qualifications You'll Need
The Basics

  • Bachelor's Degree in Finance or related field
  • 4+ years of experience in Treasury, Finance, Asset Liability Management, Liquidity Risk and Funding Management, or related risk oversight functions
  • In Lieu of degree, 8+ years of experience in Treasury, Finance, Asset Liability Management, Liquidity Risk and Funding Management, or related risk oversight functions

Bonus Points If You Have

  • Master's Degree in Finance or related field
  • 6+ years of experience in Treasury, Finance, Asset Liability Management, Liquidity Risk and Funding Management, or related risk oversight functions
  • FRM/CFA

#LI-RR
Application Deadline:
The application window for this position is anticipated to close on Jun 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 $88,500.00 to $149, 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 .
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 . Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.

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