Principal Business Risk Specialist - Emerging Risk

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Job Description:

Summary

This individual will have a wide range of responsibilities as part of a team responsible for multiple business risk management activities executed within the Business Risk Office.

This individual will support the compliance and risk management activities within the Generative AI space business, which may include risk assessment coordination, issue management, procedure documentation, process design, control workflow/systems, reporting, testing, remediation and third- party management, as well as create and maintain a watchlist of upcoming legal and regulatory changes affecting Decisions and Analytics organization. More specifically, the key responsibilities include: 

• Supporting the management of emerging risks pertaining to Discover’s use of Generative AI technology across the lifecycle of use cases from ideation to retirement through collaboration with business users, Corporate Risk Management, Business Risk officers, Business Technology, and other stakeholders, while ensuring high speed-to-market. 

• Establishing and maintaining a watch-list of emerging legal and regulatory changes affecting the Decisions and Analytics organization and collaborating with stakeholders in Decisions and Analytics, Business Risk, Corporate Risk Management, Law and Compliance, to support impact assessment, and timely action plan development and execution.  

The person in this role serves as the liaison with the Corporate Risk Management areas and other Risk Office teams. The Principal Business Risk Specialist actively identifies any potential risk management opportunities and escalates risk and potential issues to management.  

Responsibilities 

• Support issue management process, including oversight and effective challenge of root cause analysis, sufficiency of action plans, and evaluation of target dates. Monitor progress of issues and escalate blockers. Collaborate with Central Issue Management (CIM) team to ensure alignment with enterprise standard. Also supports other business risk functions as needed. ​

• Evaluate and challenge business-driven changes to ensure appropriate risk management practices are in place, and to ensure enterprise change management requirements are being followed. Support control design process and assess processes for any control gaps or enhancements needed to ensure effectiveness of controls in business process changes. Provide feedback and input into enterprise change management program as necessary.

• Provide support to business partners for execution of second line risk program requirements, such as Risk and Control Self-Assessment (RCSA), Risk and Control Assessment (RaCA), process management, regulatory change management and enterprise risk assessments. Support control design process and assess processes for any control gaps or enhancements needed to ensure effectiveness of controls in these activities. Provide feedback and input to risk programs as necessary.

• Provide input and effective challenge into business activities to help monitor risk management health of its business including, but not limited to, control design, execution and effectiveness, risk and control library maintenance, and effective challenge of KRI/KPIs. Also provide input into regular trending, analysis and reporting of the business risk environment and issues, as appropriate, to key stakeholders.

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• Provide support to central exam / audit / testing team and serve as an effective challenge for remediated findings.

Minimum Qualifications 

At minimum here is what you will need:

• Bachelors Business Administration and Management, Data Science, Data Analytics, Cyber Security, Statistics or similar  

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• 6+ years of Financial services, Marketing, Compliance, Internal Audit Operations, Business Technology, Cyber Security or Vendor Management areas or related.

Preferred Qualifications 

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

• Masters Business Administration and Management, Data Science, Data Analytics, Cyber Security, Statistics or similar  

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• 8+ years