Principal Operational Risk and Control Design Specialist

at Discover in Riverwoods, Illinois, United States

Job Description

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:

Responsible for ensuring the robust design and operating effectiveness of the control environment over high priority processes within the business by identifying industry-leading control design practices and enabling implementation of such practices across DFS. Creates and maintains control design guidance and associated standards and training for 1st line process and control owners. Performs targeted control environment reviews partnering with 1st line control owners, the Business Risk Office, and Compliance Advisory to ensure control environment is robust and meeting established regulatory requirements and corporate standards. Executes reviews of Operational Risk coverage, ensuring that appropriate controls have been designed and are in place where applicable. Engages with senior leaders to communicate control assessment results, including identification of gaps and/or opportunities within the risk environment. Leverage learnings from control design reviews to inform improvements to standards, tools and training. Leads initiatives to improve internal processes when identified. Demonstrates proven abilities and success with identifying and assessing nonfinancial risks (e.g. compliance risk, operational risk) and the effectiveness and efficiency of controls, leveraging prior experience, enterprise standards, and sound industry practices (e.g. BASEL / COSO). Manages multiple projects and deliverables concurrently and with little oversight or guidance needed. Will be expected to bring thought leadership on best-in-class risk mitigation strategies.

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

What You’ll Do

+ Acts as the liaison between the Decisions and Analytics Data Risk Team and other first line business areas (e.g., Data Quality, Metadata Management, Enterprise Data Stewardship), as well as second line partners in Information Risk Management to communicate and execute on the first line responsibilities as outlined in the Data Risk Management Policy, and act as an advocate, a consultant and SME for data risk management.

+ Provides oversight of data management processes and programs to independently test and effectively challenge data management initiatives, reports risks and results to DNA leadership.

+ Influences enhancements to support a more robust data risk management framework including the identification of process gaps and root causes of breaches.

+ Leads process walk-throughs with functional business partners and 1st and 2nd line Subject Matter Experts ensuring that control design meets internal and professional standards and is aligned with the control design framework. Execute process / control design activities (i.e., working sessions, effective challenge sessions, etc.), including but not limited to: Identification and measurement of relevant risks. Identification and assessment of the adequacy of the controls to mitigate these risks, including appropriate coverage of relevant Operational Risks. Identification of opportunities to enhance the control environment (i.e., automated preventative controls, additional monitoring, etc.). Identification of gaps and recommendations on action plans to address these gaps. Lead conversation with business partners and senior leadership to inform of control design review results.

+ Draft comprehensive guidance (Training, Standards, Procedures, etc.) that will be utilized by the enterprise to ensure a robust control design and risk coverage framework is established and adhered to.

+ Serve in a control design advisory roles to 1st line process and control owners and provide guidance on what a good control design looks like and best-practices to adhere to the guidance.

+ Guide the enterprise in drafting and maintenance of centralized controls for common risks.

+ Inform the roadmap for GRC/other Tools for 1st line control owners that will help drive further adherence to control design standard.

+ Identify systemic improvement themes across the enterprise by leveraging control design reviews. Support drafting of a comprehensive risk & control summary to highlight conclusions.

Qualifications You’ll Need

The Basics

+ Bachelor’s degree in information technology, Finance, Business, Engineering or related field.

+ 4+ years of Compliance, Internal Audit, Business, Risk Management, Financial Services, Process Improvement or related.

+ In lieu of education, 8+ years of Risk Management, Financial Services, Process Improvement or related.

? Bonus Points If You Have

+ Master’s degree in information technology , Finance, Business, or related field or related field.

+ 6+ years of experience Compliance, Internal Audit, Business, Risk Management, Financial Services, Process Improvement or related.

\#remote

Application Deadline:

The application window for this position is anticipated to close on Apr-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:

+ Paid Parental Leave

+ Paid Time Off

+ 401(k) Plan

+ Medical, Dental, Vision, & Health Savings Account

+ STD, Life, LTD and AD&D

+ Recognition Program

+ Education Assistance

+ Commuter Benefits

+ Family Support Programs

+ Employee Stock Purchase Plan

Learn more at mydiscoverbenefits.com .

What are you waiting for? Apply today!

All Discover employees place our customers at the very center of our work. To deliver on our promises to our customers, each of us contribute every day to a culture that values compliance and risk management.

Discover is committed to a diverse and inclusive workplace. Discover is an equal opportunity employer and does not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, protected veteran status, or other legally protected status. (Know Your Rights & Pay Transparency Nondiscrimination Provision) (https://www.dol.gov/agencies/ofccp/posters)

Discover complies with federal, state, and local laws applicable to qualified individuals with disabilities and is committed to providing reasonable accommodations. If you require a reasonable accommodation to search for a position, to complete an application, and/or to participate in an interview, please email HireAccommodation@discover.com . Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.