Discover
We power a network that helps people achieve a brighter financial future.
Riverwoods, IL
Hybrid

Lead Fair Lending Statistician

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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  

Discover Financial Services, Fair Lending Statistical Testing team is looking for a highly skilled and experienced Statistician, with strong statistics fundaments, traditional modeling methodologies as well as AI/ML modeling techniques to test Discover’s internal strategies and models for Fair Lending Risk and Bias. This role has a tremendous amount of exposure to Discover’s key business areas such as Credit Cards, Student, Personal and Home Loans and provides a great opportunity to build & implement solutions, learn and grow within the organization.

Fair Lending Statistical Testing within the Corporate Risk Management department provides the opportunity to learn and understand various business strategies across and conduct statistical testing & analysis for identifying Fair Lending risk across all DFS’s mortgage and non-mortgage products. This position is responsible for implementing and enhancing the overall Fair Lending (FL) program, manage the life cycle of a Fair Lending test in compliance with applicable fair lending laws and regulations. Furthermore, partner with Enterprise Compliance Program team and First line business teams and provide qualitative & quantitative results and evaluate consumer lending practices from a FL perspective. 

Performs and maintains in-house FL statistical analytical programs for identifying fair lending risks using strong programming skills, leveraging statistical techniques such as regression modeling for disparate impact & treatment testing within Discover’s Credit card, Mortgage, Personal lending, Student loan and Home loan businesses. Fair Lending testing includes designing the testing components and flow, data preparation, FL model development, documentation, and refinement

Assist in evaluating internal and external practices, including regulatory and peer institution practices, to ensure DFS is using "best in class" statistical and analytical methods, while adhering to regulatory requirements. Evaluate exiting Fair Lending testing methodologies to ensure validity, efficiency, and accuracy and build new experimental designs/proof of concepts to evaluate new statistical methods that can be applicable in enhancing and solidify the current testing framework

Develop and implement in-house processes for data mining, data assessment, validation, analysis, and correction to determine any limitations on reliability or usability of the data for conducting the analysis & testing

Assist with developing and reviewing fair lending policies, procedures, and training materials for fair lending testing, new-hire training and manage business continuity

Strong communication and presentation skills with the ability to write and present technical papers/documents in a clear, cogent manner to a wide range of audiences (both technical and non-technical)

Qualifications:

Minimum:

Masters in Statistics, Economics, Information Technology, Mathematics, Engineering

Preferred:

Ph.D. Statistics, Economics, Information Technology, Mathematics, Engineering

Work Experience:

Minimum:

2+ years Statistics, Economics, Engineering, or other quantitative discipline, or equivalent internship or research experience

Preferred:

4+ years Statistics, Economics, Engineering, or other quantitative discipline, or equivalent internship or research experience

In Lieu of Education:

4+ years Mathematics, Economics, Engineering or any related field with relevant modeling/analytical experience, including a Bachelor's Degree

#LI-L

What are you waiting for? Apply today!

The same way we treat our employees is how we treat all applicants – with respect. Discover Financial Services is an equal opportunity employer (EEO is the law). We thrive on diversity & inclusion. You will be treated fairly throughout our recruiting process and without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status in consideration for a career at Discover.

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What are Discover Perks + Benefits

Discover Benefits Overview

Start enjoying great benefits Day 1 — We support you with the same dedication we bring to all of our customers. Our comprehensive benefits package features first-class insurance, financial planning support and excellent perks designed to help you reach your goals and live a rich, healthy life.

Check out more of our amazing employee benefits at mydiscoverbenefits.com

Culture
Volunteer in local community
Discover’s business is built on helping people, and we invest in the community (Blessing Backpacks, Boys & Girls Clubs, Big Brothers/Sisters) to demonstrate our commitment to a brighter future.
Partners with nonprofits
Open door policy
OKR operational model
Team based strategic planning
Open office floor plan
Flexible work schedule
Remote work program
Diversity
Dedicated diversity and inclusion staff
Mandated unconscious bias training
Diversity manifesto
Diversity employee resource groups
Hiring practices that promote diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
You can open a separate Health Care FSA (HCFSA) and contribute up to $2,650 tax-free from your paycheck to reimburse yourself for eligible out-of-pocket expenses.
Disability insurance
Employees receive Short-Term Disability Insurance at no cost.
Dental insurance
Discover offers two dental plan options — Standard and Premier — both are administered by MetLife.
Vision insurance
Discover offers two vision plan options — Standard and Premier through VSP.
Health insurance
Discover offers a variety of medical plans for you and eligible family members, so that you can choose the benefit plan that suits your needs.
Life insurance
As a Discover employee, you receive Basic Life Insurance of one times your HWEE (up to $500,000) at no cost to you.
Pet insurance
Purchase medical coverage at a discounted rate for your beloved family pet. The more pets you insure, the greater the discount.
Wellness programs
Help balance your work and personal life with a wide variety of free and discounted resource and referral services including family and relationship counseling and financial guidance.
Mental health benefits
Financial & Retirement
401(K)
You may elect to contribute 1% to 30% of your eligible base salary, commissions and bonus on a pre-tax basis, up to IRS limits every year.
401(K) matching
Discover matches up to 6% of the pre-tax contributions you make to the 401(k) Plan.
Employee stock purchase plan
The ESPP provides eligible employees with an opportunity to purchase shares of Discover common stock through payroll deductions at a 5% discount.
Performance bonus
Charitable contribution matching
Child Care & Parental Leave Benefits
Childcare benefits
Generous parental leave
Family medical leave
Adoption Assistance
Discover helps eligible employees and their families with the costs of adoption by reimbursing certain expenses.
Company sponsored family events
Vacation & Time Off Benefits
Generous PTO
Discover has a Paid Time Off of 4 to 5 Weeks of paid time per year.
Paid volunteer time
Paid holidays
Discover provides 7 paid holidays.
Paid sick days
Office Perks
Commuter benefits
When you enroll in the Commuter Benefits Program at WageWorks, you’ll save on taxes on mass-transit passes, parking and other eligible expenses.
Company-sponsored outings
Onsite office parking
Recreational clubs
Relocation assistance
Fitness stipend
Onsite gym
Discover has fitness centers and Weight Watchers® programs at all five major locations.
Professional Development Benefits
Job training & conferences
Tuition reimbursement
Discover provides tuition reimbursement and a full-ride bachelor's degree program for select online degree programs.
Lunch and learns
Promote from within
Mentorship program
Continuing education stipend
Continuing education available during work hours
Online course subscriptions available
Customized development tracks

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