Discover Financial Services - Deerfield, IL
posted about 2 months ago
The Principal Finance Risk position at Discover Financial Services is a critical role that involves advising Finance business partners on understanding and mitigating inherent risks throughout their business processes. This position serves as a liaison between Finance business partners and various departments including Corporate Risk Management (CRM), Compliance, Legal, and other Business Risk Office groups. The Principal Finance Risk will execute various preventative risk management activities and initiatives, which include risk and control assessments (RCSAs), improvements to the Compliance Management System (CMS), change management, issues management, risk reporting, business continuity planning, records management, new initiative processes, and compliance risk assessment control mapping. In this role, the Principal Finance Risk will actively manage and escalate risk and customer-impacting issues that arise in day-to-day operations. The responsibilities include performing walkthroughs and providing consultation on existing and new processes, facilitating documentation, identifying business risks and controls, and ensuring that appropriate controls are in place to mitigate legal, regulatory, and other applicable business risks. The position also requires collaboration with business partners to ensure effective issue management, conducting root-cause analysis, and implementing corrective action plans to address issues identified through various assessments and audits. Additionally, the Principal Finance Risk will act as a subject matter expert on efficient processes to maintain an accurate library of risks and controls, coordinate CMS improvement initiatives, determine regulatory applicability, and map controls for enterprise-wide compliance risk assessments. The role also involves providing consultation and monitoring the timely execution of Business Continuity Planning and overseeing the completion of RCSAs.