Director & Senior Counsel - Benefits & Compensation

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:

Under the direction of a managing attorney, this role involves working collaboratively with a team to support and advise internal business clients, including Human Resources, Legal, and other business partners, on benefits and executive compensation laws and matters, handling complex legal matters and projects including providing legal advice, direction and training to in-house business partners, supporting a risk-aware culture and ensuring effective risk management practices in accordance with relevant laws, regulations, and company policies. Incumbents identify, assess and communicate legal and relevant regulatory requirements and industry best practices relevant to the Company and its businesses, and manage assigned resources and budgets, including outside counsel budgets. There is an emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business units risk appetite and all risk and compliance program requirements. The incumbent may be an individual contributor or people leader, functionally or directly leading work group(s), small teams, or individual employees to deliver desired output. The incumbent typically provides coaching to increase effectiveness of others. Creates a culture of effective risk management, accountability, and demonstration of risk awareness across the organization.

Responsibilities:

• Exercises prudent discretion and decision-making skills by advising, counseling, training and supporting internal business clients on employee benefit and executive compensation matters, including health and welfare plans, retirement plans, severance plans, equity plans, and executive compensation programs, strategic and complex issues and requirements applicable to assigned role (e.g., Legal Counsel, Risk, Government Relations, Exam Management), such as on new initiatives, business process reviews, compliance with laws, regulations, policies and procedures, contract review and analysis, training, corrective actions, risk and issues raised in governance committees.

• Supports the drafting and updating of benefit plan and executive compensation documents, including plan documents, summary plan descriptions, regulatory disclosures, compensation arrangements, equity award agreements, and employee communications. 

• Advise on fiduciary, tax, and compliance matters related to benefits and executive compensation (ERISA, the Internal Revenue Code, 409A, HIPAA, COBRA, ACA, and other applicable laws).

• Assists with the preparation and review of securities filings (proxy statement, annual, quarterly, and current reports).

• Monitors developments in the benefits and executive compensation practice areas and proactively evaluates the potential impact on benefits and compensation programs.

• Supports vendor procurement by reviewing and negotiating contracts with employee benefits and executive compensation service providers.

• Communicates effectively with internal clients, leadership, directors, and regulators, as applicable.

• Continuously improves and adheres to required standards and processes to promote a risk-aware culture and ensure efficient and effective risk management.

• Identifies, assesses, communicates, and provides oversight and strategic guidance on new or proposed legal and regulatory requirements, emerging legal and regulatory risks and trends.

• Exercises prudent discretion and decision-making to represent and/or advocate on the company’s behalf before regulatory or judicial bodies, as necessary, or in dealings with counter-parties on matters such as litigation, commercial transactions, regulatory examinations and supervisory matters, comment letters and position papers on proposed regulations, and legislation that may impact the company.

• Provides legal and risk-mitigation advice on complex matters related to the attorney’s assigned area(s) of legal coverage which may include one or more of the following coverage areas: Regulatory, Consumer Finance Advisory, Transactional, Anti-Trust, Privacy/Security, Technology, Employment/Benefits, Litigation, Collections, Public Company, Payment