Director, Operational Risk

| Chicago
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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 

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

#LI-KB1

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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Location

We're headquartered in the northwest suburbs of Chicago and have a downtown Chicago office known as “The 606.”

An Insider's view of Discover

What’s the vibe like in the office?

The cool thing about working at Discover is the wonderful collaborative environment we have and all the smart, talented and fun people we work with every day to continuously work on innovations.

Hiba

AWS Cloud Engineer

What does your typical day look like?

I enjoy working at Discover because I get to work with and collaborate with talented people who are passionate about what they do, and together we get to help others. We work constructively and cross-functionally to provide the best and newest products for our users and provide exceptional support for our customers!

Mandy

Project Manager, Advanced Analytics Platform

How does the company support your career growth?

There are two reasons I enjoy working at Discover. First, I enjoy the challenging and meaningful work. Second, my career path at Discover is mine to shape. My managers have supported me when I wanted to learn more and move within the company.

George

Senior Manager, Software Engineering

What is your vision for the company?

My vision of the company is that we create rewarding experiences in lives of our customers every day through analytics.

Kumar

SVP, CDO Advanced Analytics Platforms

What’s the vibe like in the office?

I love working at Discover because of how the company invests in its people and innovation. The environment is encouraging and the smart people around you makes it an amazing experience every day!

Brent

Director, Digital Analytics

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
Friends outside of work
Intracompany committees
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
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 Benefits
Discover offers two dental plan options — Standard and Premier — both are administered by MetLife.
Vision Benefits
Discover offers two vision plan options — Standard and Premier through VSP.
Health Insurance Benefits
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.
Onsite Gym
Discover has fitness centers and Weight Watchers® programs at all five major locations.
Mental Health Benefits
Retirement & Stock Options Benefits
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
Match charitable contributions
Child Care & Parental Leave Benefits
Child Care Benefits
Generous Parental Leave
Flexible Work Schedule
Remote Work Program
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
Perks & Discounts
Casual Dress
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 Outings
Game Room
Parking
Recreational Clubs
Relocation Assistance
Fitness Subsidies
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.
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Continuing Education stipend
Time allotted for learning
Online course subscriptions available
Customized development tracks
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