Principal Compliance Specialist - Compliance Monitoring and Testing

Posted 6 Days Ago
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Chicago, IL
Hybrid
89K-149K Annually
Senior level
Cloud • Fintech • Machine Learning • Analytics • Financial Services
We power a network that helps people achieve a brighter financial future.
The Role
The Principal Compliance Specialist is responsible for executing risk-based compliance monitoring and testing for consumer banking operations. This role involves developing test scripts, performing compliance reviews, managing compliance risk, and ensuring adherence to regulatory requirements. The specialist will document results and collaborate with business lines on corrective action plans.
Summary Generated by Built In

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 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.
The Principal Compliance Specialist - Monitoring and Testing within Corporate Compliance performs a key second line of defense role by helping to ensure regulatory requirements are met by our consumer banking lines of business. The Principal Compliance Specialist will be responsible for executing risk-based compliance monitoring and testing for the purpose of independently validating business line adherence to applicable laws and regulations. The position requires experience in the design and execution of compliance monitoring and testing, including test script development, issues management, and reporting, as well as regulatory compliance knowledge.
Responsibilities

  • Execution of risk-based compliance monitoring and testing in accordance with Compliance methodology and procedures.
  • Development of test scripts to support assigned compliance reviews.
  • Ensure test scripts are properly designed to identify non-compliance with applicable laws and regulations.
  • Systematically retain documents to support results of compliance reviews.
  • Manages scheduling to ensure all tasks and reporting are completed in a timely manner.
  • Performs effective root cause analysis and obtains corrective action plans from lines of business.
  • Assists with the drafting of issues and the formal report.
  • Actively manages and escalates compliance risk and customer-impacting issues identified within their day-to-day role to their leadership.
  • Responsible for overall integrity and quality of work performed.
  • Maintains a high level of awareness and knowledge of regulatory requirements.


Minimum Qualifications
At a minimum, here is what we need from you:

  • Bachelor's degree in Business Administration and Management, Security and Intelligence, Law, Information Technology, Analytics, Finance or related field.
  • 6+ years of experience in compliance, law, risk management experience, or related
  • In lieu of a degree, 10+ years of experience in compliance, law, risk management experience, or related.


Preferred Qualifications
If we had our say, we would also look for:

  • Certified Regulatory Compliance Manager
  • Masters degree in Business Administration and Management, Security and Intelligence, Law, Information Technology, Analytics, Finance or related field.
  • 8+ years of experience in Compliance, law, risk management experience, or related
  • Experience in compliance monitoring and testing


Application Deadline:
The application window for this position is anticipated to close on Nov-30-2024. 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
  • STD, Life, LTD and AD&D
  • 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 committed to a diverse and inclusive workplace. 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 & Pay Transparency Nondiscrimination Provision)
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 [email protected] . Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.

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The Company
Riverwoods, IL
18,000 Employees
Hybrid Workplace
Year Founded: 1986

What We Do

Discover is one of the most recognized brands in U.S. financial services. We’re a direct banking and payment services company built on a legacy of innovation and customer service. We support, challenge and inspire employees to continually develop their skills, advance their career and help grow our business.

Why Work With Us

You can make an impact. Whether it’s developing corporate strategy, innovating new services or supporting IT needs, every employee has the opportunity to be a vital part of our business and make a real difference in people’s lives. It’s the heart of what we do.

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