Credit Risk Management Specialist

2 weeks ago

Riverwoods, Illinois, United States Discover Full time
Join Discover and Shape the Future of Financial Services

At Discover, we believe in doing impactful work from the very start. Our culture thrives on collaboration, driven by our core principles: We Play to Win, We Get Better Every Day, and We Succeed Together. We are committed to your growth and to making a significant impact at one of the leading digital banking and payments organizations in the world.

Position Overview:

As a Credit Risk Management Specialist, you will be pivotal in identifying and overseeing counterparty credit risk associated with our Payment Services partnerships within the Discover Global Network. This includes working with key Acquirers, Issuers, Networks, Processors, and Merchants.

Your role will involve a thorough analysis of credit risk through detailed financial statement evaluations, as well as leading negotiations on necessary risk mitigation strategies and contractual terms.

Additionally, you will provide mentorship and support to junior team members, ensuring that risk and customer-impacting issues are effectively communicated to management.


Key Responsibilities:
  • Oversee project execution to maintain compliance with budget, timeline, and scope.
  • Develop strategies and lead discussions on risk mitigation throughout the partnership lifecycle, including bankruptcy scenarios.
  • Innovate and enhance processes, contributing to both team and Payments Risk projects.
  • Create and manage internal tools and databases that support risk management processes.
  • Conduct portfolio analysis to assess financial stability and provide training as needed.
  • Evaluate new business processes to identify and mitigate financial risks within transaction flows.
  • Collaborate with subject matter experts to ensure operational and compliance risks are adequately addressed through effective monitoring.
  • Act as a liaison, offering consulting and project management support to business units.
  • Collect and follow up on financial statements from all partners within your assigned portfolio.
  • Assess the financial stability of assigned partners through comprehensive financial statement analysis.
  • Review reporting and system capabilities, maintaining accurate documentation and training materials.

Minimum Qualifications:

To be considered for this role, you should possess:

  • A Bachelor’s Degree in Accounting, Finance, Economics, Information Technology, International Business, Business Administration, or a related field.
  • A minimum of 2 years of experience in Commercial Credit, Acquiring, Payments, or a related field.
  • At least 2 years of experience analyzing financial statements in accordance with GAAP and/or IFRS.
  • Alternatively, 6+ years of experience in Commercial Credit or Banking, Payments, or a related field may be considered in lieu of a degree.

Preferred Qualifications:

While not required, the following certifications would be advantageous:

  • RIMS-Certified Risk Management Professional
  • Certification in Control Self-Assessment
  • Certified Public Accountant (CPA)

Compensation and Benefits:

The base salary for this position typically ranges between $65,000.00 to $109,000.00, with additional incentives as part of a competitive total compensation package. Factors such as geographical location, relevant experience, education, and skill level may influence the final pay.

Discover also offers a comprehensive benefits package that includes:

  • Paid Parental Leave
  • Paid Time Off
  • 401(k) Plan
  • Medical, Dental, Vision, & Health Savings Account
  • Short-Term Disability, Life, Long-Term Disability, and Accidental Death & Dismemberment Insurance
  • Recognition Programs
  • Education Assistance
  • Commuter Benefits
  • Family Support Programs
  • Employee Stock Purchase Plan

At Discover, we place our customers at the heart of everything we do. Each employee contributes to a culture that prioritizes compliance and risk management. We are dedicated to fostering a diverse and inclusive workplace and are proud to be an equal opportunity employer.

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