Principal Finance Risk

$75,500 - $127,900/Yr

Discover Financial Services - Deerfield, IL

posted about 2 months ago

Full-time - Senior
Remote - Deerfield, IL
Credit Intermediation and Related Activities

About the position

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.

Responsibilities

  • Perform walkthroughs and provide consultation on existing and new processes, facilitating documentation and identifying business risks and controls.
  • Ensure that controls are in place to mitigate legal, regulatory, and other applicable business risks, and consult on the design of controls where gaps exist.
  • Collaborate with business partners to ensure appropriate issue management, performing root-cause analysis and implementing corrective action plans.
  • Act as a subject matter expert on efficient processes to maintain an accurate library of risks and controls.
  • Coordinate CMS improvement initiatives for Finance business partners.
  • Determine regulatory applicability and map controls for enterprise-wide compliance risk assessments.
  • Provide consultation and monitor timely execution of Business Continuity Planning.
  • Facilitate and oversee timely completion of RCSAs.

Requirements

  • Experience in risk management, compliance, or a related field.
  • Strong analytical skills and the ability to perform risk and control assessments.
  • Excellent communication skills to liaise with various business partners and departments.
  • Ability to manage multiple priorities and escalate issues effectively.
  • Knowledge of regulatory requirements and compliance frameworks.

Nice-to-haves

  • Experience with financial services or banking industry regulations.
  • Familiarity with risk management software and tools.
  • Project management experience.

Benefits

  • Competitive salary between $88k and $149k per year.
  • Work from home option available.
  • Comprehensive health insurance coverage.
  • 401k retirement savings plan with company matching contributions.
  • Paid time off and holidays.
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