Principal Compliance Program Specialist - Compliance Monitoring and Testing

Discover; Chicago (IL); On-site; USD 91,000 - 154,000; Full time

Job summary

Join a forward-thinking company that values your unique contributions as a Principal Compliance Program Specialist. In this dynamic role, you'll execute and enhance compliance programs while collaborating with various teams to ensure adherence to regulatory requirements. Your expertise in compliance management and risk assessment will be crucial as you lead compliance monitoring and testing initiatives. This is an exciting opportunity to make a meaningful impact in a leading digital banking and payments firm, where your work will help millions achieve a brighter financial future. Apply now to be part of a culture that prioritizes growth and success together.

Benefits

Paid Parental Leave

Paid Time Off

401(k) Plan

Medical, Dental, Vision, & Health Savings Account

Short and Long Term Disability Insurance

Life Insurance

Accidental Death & Dismemberment Insurance

Recognition Program

Education Assistance

Employee Stock Purchase Plan

Qualifications

• 6+ years of experience in Compliance, law, or risk management.
• Experience in the financial services industry is required.

Responsibilities

• Execute and enhance compliance program components.
• Develop test scripts for compliance monitoring and testing.
• Manage compliance risks and escalate issues to leadership.

Skills

Compliance Management

Risk Management

Regulatory Compliance

Analytical Skills

Communication Skills

Education

Bachelor's degree in Business Administration

Bachelor's degree in Accounting

Bachelor's degree in Finance

Bachelor's degree in Law

Master's degree in Business Administration

Job description

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 Principal Compliance Program Specialist is responsible for executing, maintaining and enhancing department or functional units in support of the overall compliance program elements. Actively manages and escalates risk and issues within the day-to-day role to management. Additionally, this role will have periodic involvement in exams and audits, including drafting responses; will lead and participate in cross-team Compliance department projects; and provide reporting to management on CMS risks. The Principal Compliance Specialist - Monitoring and Testing 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 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, including test script development, issues management, and reporting, as well as regulatory compliance knowledge.

How You'll Do It

• Executes, maintains and enhances compliance program components. Manages the development of processes and practices with respect to risks, controls and regulatory requirements identifying gaps and issues.
• Research compliance requirements and evaluate adequacy of policies, procedures, training and reference materials, system and manual processes.
• Partners with management in the development, implementation, and maintenance of compliance programs and a culture of compliance.
• Creates and updates status reports of program initiatives, activities, and compliance risks to management and committees.
• Execution of risk-based compliance monitoring and testing in accordance with Compliance methodology and procedures.
• Development of test scripts to support assigned compliance reviews.
• Ensure test scripts are properly designed to identify non-compliance with applicable laws and regulations.
• Systematically retain documents to support results of compliance reviews.
• Manages scheduling to ensure all tasks and reporting are completed in a timely manner.
• Performs effective root cause analysis and obtains corrective action plans from lines of business.
• Assists with the drafting of issues and the formal report.
• Actively manages and escalates compliance risk and customer-impacting issues identified within their day-to-day role to their leadership.
• Responsible for overall integrity and quality of work performed.
• Maintains a high level of awareness and knowledge of regulatory requirements.

Qualifications You'll Need

The Basics

• Bachelor's degree in Business Administration and Management, Accounting, Finance or Law
• 6+ years of experience in Compliance, law, risk management experience, or related field
• 1+ years of relevant experience in the financial services industry
• In Lieu of Education 8+ years of experience in Compliance, law, risk management experience, or related field

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 stationary position.
• Occasionally move about the work environment to complete the major responsibilities of the job.
• Ability to transport physical objects up to 10 pounds (5 kg).
• Primarily performed indoors in an office setting.
• Ability to operate office equipment such as but not limited to computer, telephone, printer, and calculator.
• Ability to communicate verbally; Ability to communicate in written form.
• Travel up to 10% of the time.

Bonus Points If You Have

• Master's degree in law, Business Administration and Management or Finance.
• 6+ years of experience with reinforcing a risk culture of compliance and transparency. Risk identification and assessment processes. Knowledge and understanding of compliance laws and regulations Compliance Management System components related to: Policies and procedures, and clear communication of intended procedural expectations and process. Governance and reporting processes, 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.
• 6+ years of experience with 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 and optimize work processes with a focus on continuous improvement.

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 Mar-19-2025. 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 $91,000.00 to $153,400.00. 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
• Short and Long Term Disability, Life, and Accidental Death & Dismemberment insurances
• 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.

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 [e-mail]. Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.

At Discover, we are committed to creating an inclusive and equitable workplace through our Fair Chance Hiring practices. Fair Chance Hiring means that we base our hiring decisions on an applicant's qualifications rather than their criminal record. All our positions are subject to Section 19 of the Federal Deposit Insurance Act. Our applicants go through a background check, and we follow all applicable local laws, including the Los Angeles County Fair Chance Hiring Ordinance (LA County Fair Chance).

Positions marked as remote eligible are limited to remote locations within the country in which the position is based.

Applicants must be 18 or older at the time of hire.