Director, Operational Risk
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
About Discover
Discover Financial Services (DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories.
Discover’s vision is to be the leading direct bank and payments partner and its mission is to help people spend smarter, manage debt better and save more so they achieve a brighter financial future.
At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers, and which is consistently awarded for both. We’re all about people and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.
Description:
The Director of Operational Risk will provide independent second line oversight for the enterprise operational risk program and framework. The Director will drive our objective of ensuring that Operational Risk Management is a competitive advantage for DFS as we ensure process discipline and overall operational excellence. This leader will be responsible for identifying, measuring, managing, monitoring and reporting aggregated risk position. This visible role will work closely with business leaders to drive necessary action and will communicate findings to executive management and the board of directors.
Responsibilities:
- Develop, direct and manage overall enterprise operational risk program and framework implementation for Discover’s risk taking activities. This includes Risk and Control Self-Assessment (RCSA), Operational Risk Events (ORE) and Consumer Impact Events (CIE), Scenario Analysis/External Loss Events, Key Risk Indicators (KRIs) and Issues Management
- Ensure that operational risk programs address all relevant risks, collaborating with the 1st line Business Risk Office, Support Functions Risk Teams, 2nd line Compliance, Risk Testing, Information Security & Technology Risk, and 3rd line Internal Audit to ensure program quality and a holistic view/management of operational risk
- Actively engage in ‘review and challenge’ of key inputs, outputs, themes, and actions stemming from 1st line and other 2nd line risk programs (e.g., incident management process, risk identification programs)
- Continuously monitor Key Operational Risks and related Key Risk Indicators and ensure the Business is taking appropriate action to update them and respond to breaches.
- Identify trends, themes, tendencies that indicate emerging operational risks by relying on mining trends in relevant metrics (including IA data), control environment, loss data and external events. Effectively communicate learnings to Business in order to drive necessary proactive responses and action.
- Report regularly to operational risk and other risk committees with appropriate, timely and relevant risk data that enables risk based decision making
- Act as a trusted advisor to teams managing operational risks to ensure risks are identified, well-managed, mitigated and risk acceptance decisions are strongly supported
- Provide education and tools to the 1st line business to promote/enable self-assessment, measurement, reporting and management of operational risk
- Forge strong partnerships with leaders throughout the company to enhance collaboration, advise and consult on risk reduction and mitigation strategies, and facilitate escalation when challenging first line decisions
- Develop effective working relationships and communications with staff and ensure that staff are motivated, developed and supported
- Act as primary liaison on operational risk related questions with regulators, internal and external advisors and other internal control groups on operational risk issues
Critical Leadership Capabilities
- Strategic orientation: Display a strong balance of strategic, business and operational skills. Demonstrate critical thinking and strategic vision. Possesses the foresight and courage to lead through times of uncertainty and evolution with agility and poise.
- Results orientation: A can do attitude that drives key strategies and priorities within the operational risk organization and achieve results timely.
- Analytical Problem Solving: Forward lean and intellectually curious; interested in understanding and experimenting with new leading edge technologies. Leverage technology and data to provide thought leadership in this space is critical.
- Continuous Improvement: Proactively seeks to improve and simplify processes and implement best in class solutions, raising quality and productivity in a calculated way (cost/benefit). Identifies new processes and/ or systems to improve productivity and/or make the business more efficient.
- Collaboration and Influencing: Skilled in gaining confidence in and building trusting relationships with line of business senior management. A solid track record of influencing others, building partnerships and fostering a culture of collaboration to achieve desired results.
- Team Leadership: Strong people leadership experience is necessary to leverage not only the capabilities of peers and business partners, but also associates by recruiting top talent. Create positive energy: build supportive and inclusive environment where all can thrive.
Minimum requirements:
- Bachelor’s degree in finance, business, analytical or a related field. Master’s degree preferred.
- 10+ years of risk management experience in a financial environment with specific focus on operational risk, enterprise risk management or internal audit
- 5+ years of experience leading teams of high performing risk professionals
- A proven track record of establishing a proactive, constructive dialogue and partnering effectively with business leaders, professionals in peer groups and regulators
- Exceptional oral communication and writing skills with the ability to manage up knowing which issues and when to escalate to keep leadership informed
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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.