Senior Compliance Specialist-2 at Discover
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
- Review Know Your Customer (KYC) documentation and conduct customer due diligence (CDD) during on-boarding and on a risk-based frequency for existing customers.
- Provide subject matter expertise to Payment Services Risk Management and enablement partners to ensure documentation meets regulatory requirements.
How You’ll Do It
- Provide training and guidance to Payments Services first line teams, enablement partners, and other parties as necessary, using AML/BSA subject matter expertise.
- Conclude the CDD review with clear, written communication and document evidence in the system of record.
- Manage and/or complete various projects and process improvements initiatives across the CDD team.
- Assess risks and propose mitigations or controls based on the body of evidence collected.
- Understand prospective, new or existing partners’ relationship with Payment Services, including AML/BSA and sanctions risks associated with provided products and services.
- Receive and complete requests from various business partners for CDD of prospective, new and existing Payment Services partners, including associates and member banks for network relationships.
- Conduct research using vended solutions, open-source information and multiple internal systems to complete CDD reviews.
- Provide analysis of the gathered documentation, leveraging knowledge of the Payment Services operating model and AML/BSA, and sanctions subject matter expertise.
- Review partner contracts and assess alignment with DFS operating regulations, CDD questionnaires and risk appetite to ensure compliance with AML/BSA and sanctions regulatory requirements.
- Provide recommendations on modifications required to DFS operating regulations, CDD questionnaires, and Standard Operating Procedures, based on changes in the AML/BSA and sanctions regulatory environment.
- Ensure all partners, their beneficial owners, and account controllers undergo sanctions screening, Adverse Media searches, and PEP screening and that the dispositions of false-positives are documented and possible matches are escalated appropriately.
Qualifications You’ll Need
- High school diploma or GED
- 1+ years of experience in financial services or related experience
Bonus Points If You Have
- Bachelor's degree in business, finance, legal or related field
- 2+ years of experience in AML, fraud, legal, regulatory compliance, financial analysis or related experience
- CAMS certification, other compliance, fraud, audit or related certification
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.