Principal Compliance Specialist

1 month ago

Riverwoods, United States Discover Financial Services 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:

Job Description

The Principal Compliance Specialist - Compliance Monitoring and Testing Strategy within Corporate Compliance performs a key second line of defense role by helping to ensure regulatory requirements are met by our consumer banking lines of business. The Principal Compliance Specialist will be responsible for executing complex risk-based compliance monitoring and testing for the purpose of independently validating business line adherence to applicable laws and regulations. The position requires experience in the design and execution of compliance monitoring and testing, issues management and reporting, as well as regulatory compliance knowledge.

Responsibilities

* Execution of targeted, complex monitoring and testing in accordance with compliance monitoring methodology and procedures.
* Development of test scripts to support assigned compliance monitoring reviews.
* Ensure test scripts are properly designed to identify non-compliance with applicable laws and regulations.
* On-going validation of corrective actions as compliance issues are remediated.
* Systematically retain documents and substantiate compliance monitoring results.
* Manage scheduling to ensure all tasks and reporting are completed in a timely manner.
* Conduct meetings with lines of business, including Compliance Advisory partners, regarding potential issues.
* Perform effective root cause analysis, obtain corrective action plans from lines of business, and assign risk ratings in accordance with internal procedures.
* Draft formal report.
* Assist with the development and maintenance of applicable Program documentation and procedures.
* Assist with on-going reporting of progress against Compliance Monitoring Plan, findings, and associated management resolution efforts.
* Assist in the improvement/enhancement of the compliance monitoring program.
* Maintains and enhances department or functional units in support of the overall compliance program components.
* Assists with researching regulatory compliance requirements and evaluating the adequacy of business policies, procedures, training and reference materials, system, and manual processes.
* Assists with the identification and assessment of compliance program risks and controls.
* Supports management in the development, implementation, and maintenance of compliance programs and a culture of compliance.
* Assists with the preparation of status reports of program initiatives, activities, and compliance issues to management and committees.

Minimum Qualifications

At a minimum, here is what we need from you:

* Bachelor's Degree in any field
* 6+ years of experience in compliance
* In lieu of a degree, 10+ years of experience in compliance

Preferred Qualifications

If we had our say, we would also look for:

* Certified Regulatory Compliance Manager
* 8+ years of experience in Compliance

Application Deadline:

The application window for this position is anticipated to close on Mar-03-2024. 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 $88,500.00 to $149,300.00. 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)

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