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Senior Principal Compliance Specialist - Payment Services

AT Discover
Discover

Senior Principal Compliance Specialist - Payment Services

Riverwoods, IL

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:

What You'll Do

  • The Senior Manager Compliance Advisory role will be responsible for compliance advisory activities specific to applicable regulatory requirements impacting the respective business line or corporate function. This includes identification and advising on compliance risks and mitigants in the context of issues management and remediation; regulatory change management; business change management for products, services and systems; policies and procedures; monitoring and testing reviews; process and control assessments; and third-party oversight and training. The Senior Manager will also advise on and facilitate compliance with established Compliance Management System (CMS) governance and programs. In addition to these core advisory functions, the Senior Manager will have periodic involvement in regulatory exams, including drafting and reviewing exam responses; will lead and participate on cross-team Compliance department projects; will coach other advisory team members; and provide reporting to management on CMS risks. In executing these functions, the Senior Manager is expected to collaborate closely with other colleagues within Compliance, Corporate Risk Management, the Legal Organization, other lines of business and corporate functions and risk officers. Develops and coaches teams to be able to identify, manage, and escalate risk, and effectively manages risk within the teams you oversee.
  • Develops and coaches teams to be able to identify, manage, and escalate risk, and effectively manages risk within the teams you oversee.

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How You'll Do It

  • Manage a team that maintains and enhances compliance program components. Provide support, coaching, and counsel to the team. Manage the development of team members by authoring and assigning goals, conducting periodic coaching and feedback reviews, and administering annual performance evaluations.
  • Engages with business and risk partners to develop compliant solutions to mitigate and remediate consumer compliance risks; escalates risks appropriately.
  • Executes compliance advisory functions within CMS programs

Qualifications You'll Need
The Basics:

  • Bachelor's degree in Accounting, Business Administration and Management, Finance, Law or related field.
  • 8+ years of experience in Compliance, Law, Risk, Operations, or related.
  • In lieu of education, 12+ years of experience in Compliance, Law, Risk, Operations, or related.

Physical and Cognitive Requirements
The physical requirements described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable a qualified individual with disabilities to perform the essential functions of the position as required by federal, state, and local laws:

  • Primarily remain in a stationary position.
  • No required movement about the work environment to complete the major responsibilities of the job.
  • Primarily performed indoors in an office setting.
  • Ability to communicate verbally.

Bonus Points If You Have:

  • Master's degree in Business Administration and Management, Law, or related field.
  • 10+ years of experience in Compliance, Law, Risk, Operations, or related field.
  • 8+ years of experience:

    • Models, champions, and reinforces a risk culture of compliance and
    transparency.
    • Applies general understanding of risk identification and assessment
    processes, tools and techniques to provide oversight and challenge to
    risk measurement activities.
    • Demonstrates knowledge and understanding of compliance laws and
    regulations.
    • Demonstrates knowledge of the Compliance Management System
    components related to:
    ◦ Policies and procedures, and clear communication of intended
    procedural expectations and process.
    ◦ Governance and reporting processes that provides a mechanism to
    identify, manage and escalate risks according to the organization's
    risk appetite.
    ◦ Evaluation of and/or challenges processes, new/existing products
    or services, regulatory changes, customer communications, and/or
    technologies to ensure Compliance risks are identified and mitigated.
    ◦ Identification and escalation of compliance risk management issues
    in a timely and effective manner, including ability to manage,
    monitor, and report on issues and development of action plans.
    ◦ Risk monitoring and testing activities to determine whether
    regulatory requirements are being adhered to and/or controls are
    operating effectively.
    ◦ Identification of regulatory risks and adequate risk mitigants, as
    well as effectively challenging assessment of controls to prevent,
    detect, and correct errors.
    ◦ Handling of complaints, evaluating business initiatives and providing
    research on potential regulatory impacts.
    ◦ Due diligence on new and existing Third-Party engagements
    commensurate with the level of compliance risk involved in the
    services being provided.
    ◦ Comprehensive, risk-based Compliance training specifically tailored
    to job roles & responsibilities.
  • 8+ years of experience:

    • Effective communication (written and verbal) that includes core
    components of active listening, persuasiveness, collaboration, and
    conciseness when meeting with and presenting to peers, various
    levels of leadership and other lines of business.
    • Build partnerships and work collaboratively with others to meet shared
    objectives.
    • Optimizes work processes with a focus on continuous improvement.
  • Certified Regulatory Compliance Manager.
  • RIMS-Certified Risk Management Professional.
  • JD, CISA, CIPP, CRMP, PMP, RIMS or similar.

Discover will not sponsor or transfer employment work visas for this position. Applicants must be currently authorized to work in the United States on a full-time basis.

Application Deadline:
The application window for this position is anticipated to close on Jan-12-2025. 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 $106,000.00 to $178,800.00. 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.

Client-provided location(s): Riverwoods, IL 60015, USA
Job ID: Discover-R43397
Employment Type: Other

Perks and Benefits

  • Health and Wellness

    • Health Insurance
    • Dental Insurance
    • Vision Insurance
    • Life Insurance
    • Short-Term Disability
    • Long-Term Disability
    • HSA
    • On-Site Gym
    • Pet Insurance
  • Parental Benefits

    • Birth Parent or Maternity Leave
    • Non-Birth Parent or Paternity Leave
    • Fertility Benefits
    • Adoption Assistance Program
  • Work Flexibility

    • Flexible Work Hours
    • Hybrid Work Opportunities
  • Office Life and Perks

    • Commuter Benefits Program
    • On-Site Cafeteria
  • Vacation and Time Off

    • Paid Vacation
    • Paid Holidays
  • Financial and Retirement

    • 401(K) With Company Matching
    • Stock Purchase Program
    • Financial Counseling
  • Professional Development

    • Tuition Reimbursement
    • Internship Program
    • Leadership Training Program
    • Promote From Within
    • Mentor Program
    • Access to Online Courses