Principal Risk Programs - Model Risk Governance

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

• Responsible for performing second line of defense activities for the development, implementation, and execution of a consistent risk management framework across all of DFS. Creates and maintains team owned procedures, standards and/or policies. Develops and provides training as necessitated. Monitors adherence to procedures, standards and/or policies. Provides reporting to leadership on risk frameworks across the enterprise

• This role will also be expected to engage with, influence, and lead business partners at all levels in the organization, escalate when necessary, participate in governance and management committee reporting, and may engage with regulators along with management. Also, by partnering closely with risk officers and other risk program owners across DFS, the position identifies industry leading risk practices and enables implementation of such practices across the company.

• Also, this role may participate on cross-team Non-Financial Risk department special projects and ad hoc analysis/reporting to senior management. In executing these functions, the Principal is expected to collaborate closely with other colleagues across Non-Financial Risk Management, Operational Risk Oversight, Corporate Risk Management, and other lines of business and corporate functions.

• Actively manages and escalates risk and customer-impacting issues within the day-to-day role to management.

How You'll Do It

• Responsible for setting up the policy, procedures and standards for all aspect of managing model risk including ML, AI, GenAI risk. 

• Strong analytical skills in developing,  maintaining and monitoring reports for model Key Risk Indicators, assesses aggregate model risk and periodically reports risk to senior management and various committees.

• Works under minimal supervision. Maintains status updates, and facilitate resolution/escalations of issues in a timely fashion. 

• Collaborate with cross-functional teams including Non-Financial Risk AI, Operational Risk, Data Scientist, Technology, Legal and Compliance, to ensure the compliance to enterprise's Model Risk and AI/GenAI Risk framework.

• Creates and maintains team owned procedures, standards and/or policies. Socialize proposed changes to enterprise policies and standards and solicit feedback. As well as develop and provide training on standards.

• Provides committee reporting to leadership on execution of risk program frameworks.

• Monitors adherence to standards.

• Provide ad hoc analysis/reporting to senior management on risk programs.

• Identify process improvement ideas and develop implementation plan for prioritized improvements to achieve strategic goals for risk programs/.

Qualifications You'll Need
The Basics:

• Bachelors degree in Information Technology, Finance, Business Administration and Management, Engineering, or Analytics.

• 4+ years in Risk Management, Financial Services, Compliance, Internal Audit, Data Analytics, Information Technology, Process Improvement or related.

• In Lieu of Education, 8+ years of experience in Risk Management, Financial Services, Compliance, Internal Audit, Data Analytics, Information Technology, Process Improvement or related.

Physical and Cognitive Requirements

The physical requirements described here are representative of those that must be met by an employee to successfully perform the essential functions of this position. Reasonable accommodations may be made to enable a qualified individual with disabilities to perform the essential functions of the position as required by federal, state, and local laws:

• Primarily remain in a stationary position.

• Occasionally move about the work environment to complete the major responsibilities of the job.

• Ability to transport physical objects up to 10 pounds (5 kg).

• Primarily performed indoors in an office setting.

• Ability to operate office equipment such as but not limited to computer, telephone, printer