Principal Compliance Specialist

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:

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.

Responsible for assisting the management in enhancing the Company’s fair lending program and collaborating with business unit management in the development of fair lending risk controls to ensure that all consumer lending activities and work are in compliance with all applicable fair lending laws and regulations. This is an individual contributor role, who will focus on the following responsibilities.

Responsibilities 

• Maintains a high level of awareness and knowledge of Fair Lending compliance requirements (including Americans with Disabilities Act, Limited English Proficiency and Elder protection) and assisting in the identification of Fair Lending risks. Possesses the ability to identify fair lending risks particularly in an environment of new and emerging technologies (e.g. Artificial Intelligence, Machine Learning).
• Assists in managing the governance programs for marketing, credit risk and servicing related campaigns, models and strategies to identify fair lending risks. Supports the business in operationalizing legal and regulatory requirements.
• Coordinates regulatory changes within affected business units and ensure that changes and controls are implemented to facilitate regulatory compliance.
• Assists in evaluating the adequacy of business policies, procedures, training and reference materials, system and manual processes, and provides support for research of regulatory requirements related to fair lending risk.
• Assists in planning and executing the annual Statistical Testing program to analyze fair lending issues.
• Assists in performing an enterprise wide fair lending risk assessment. Communicates and collaborates with business partners in the first line of defense regarding compliance risks and controls.
• Assists in preparing reports and other presentations for committee reporting.
• Prepares for regulatory exams, internal audits and compliance tests. Plan and execute Fair Lending Program initiatives with guidance from the Senior Manager and the Fair Lending Program Director.
• Promotes a risk-aware culture, ensure efficient and effective risk and compliance management practices by adhering to required standards and processes. Ensures compliance issues are brought to the attention of senior compliance professionals. Collaborate with the business to implement corrective action and controls as a result of the risk assessment, Compliance or Internal Audit findings.
• Assists Senior Manager, Directors and VP in larger projects as needed
• Maintains and enhances department or functional units in support of the overall compliance program components.
• Assists with the identification and assessment of compliance program risks and controls.
• Supports management in the development, implementation, maintenance, and maturation of compliance programs and a culture of compliance.
• Assists with the preparation of status reports of program initiatives, activities, and compliance issues for management and committees.

Minimum Qualifications

At a minimum, here’s what we need from you:

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

Preferred Qualifications

If we had our say, we’d also look for:

• Master's Degree in Business, Security, Law, Computer Science, Data Analytics, or Risk
• 8+ years of experience in compliance, law, risk management, operations, or related field
• Certified Regulatory Compliance Manager
• JD, CISA, CIPP, CIPM, CRMP, PMP, RIMS, or similar license/certification

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Compensation:

The base pay for this position genera