Jobs and Careers

Principal Compliance Specialist - Monitoring and Testing

Riverwoods, IL, United Statesfull_timeVerifiedPosted 4 Sept 2024

💰 $149,300/yr($88,500/yr – $149,300/yr)

About the role

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 Sep-09-2024. 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 $88,500.00 to $149,300.00. 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: