Principal Compliance Specialist

Discover Financial Services; Riverwoods (IL); Remote; USD 91,000 - 154,000; Full time

Job summary

Join a leading digital banking company as a Principal Compliance Specialist. You'll handle compliance advisory activities, manage risks, and ensure regulatory adherence while collaborating with various teams. This role offers a chance to make a significant impact in the financial services industry.

Benefits

Paid Parental Leave

Paid Time Off

401(k) Plan

Medical, Dental, Vision

Education Assistance

Qualifications

• 6+ years Compliance, law, risk management experience.
• 10+ years Compliance experience in lieu of education.

Responsibilities

• Support development of payment services risk rating models.
• Advise on Financial Crime related topics.
• Research regulatory compliance requirements.

Skills

Compliance

Risk Management

Advisory

Education

Bachelors Business Administration

Masters in Business Administration

Job description

2 days ago Be among the first 25 applicants

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.

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 Specialist 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 Principal Compliance Advisory will facilitate compliance with established Compliance Management System (CMS) governance and programs. In addition to these core advisory functions, the Principal Compliance Advisory will also have periodic involvement in regulatory exams, including drafting and reviewing exam responses. Actively manages and escalates risk and customer-impacting issues within the day-to-day role of management.

How You'll Do It

• Support the development and implementation of payment services risk rating and transaction monitoring models, including international monitoring and reporting requirements
• Collaborate with various teams to implement, and drive forward, Financial Crime program changes.
• Advise the 1st Line of Business on Financial Crime related topics.
• Research and understands regulatory compliance requirements to evaluate whether business policies, procedures, training, systems, processes, and controls comply with applicable laws and regulations; and to articulate those risks to stakeholders.
• Engages with business and risk partners to develop compliant solutions to mitigate and remediate consumer compliance risks; escalates risk appropriately.
• Executes compliance advisory functions within CMS programs.
• Support various risk assessments across the enterprise.
• Creates and updates status reports of program initiatives, activities, and compliance risks to management and committees.
  
  

Qualifications You'll Need

Minimum Requirements

• Bachelors Business Administration and Management, Security and Intelligence, Law, Information Technology, Analytics, or Finance
• 6+ years Compliance, law, risk management experience, or related
• In Lieu of Education Experience 10+ years Compliance, law, risk management experience, 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 accommodation 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 operate office equipment such as but not limited to computer, telephone, printer, and calculator.
• Ability to communicate verbally. Ability to communicate in written form.
  
  

Preferred Requirements

• Payment network and Anti-Money Laundering experience
• Masters in Business Administration and Management, Security and Intelligence, Law, Information Technology, Analytics or Finance
• 8+ years Compliance, law, risk management experience, or related
• 4+ years
• 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.

• 4+ years
• 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
• Other: ACAMS, JD, CISA, CIPP, CRMP, PMP, RIMS or similar preferred
  
  

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.

#remote

Application Deadline

The application window for this position is anticipated to close on May-17-2025. 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 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)

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.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Financial Services, Banking, and Hospitality

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