Principal Compliance Specialist - Credit Card/Credit Risk
Welcome to Discover Financial Services, a leading financial institution committed to providing innovative and accessible financial solutions to our customers. We are seeking a highly skilled and experienced Principal Compliance Specialist to join our dynamic team. As a Principal Compliance Specialist, you will play a crucial role in ensuring compliance with credit card and credit risk regulations and guidelines. Your expertise and attention to detail will be essential in safeguarding our business operations and reputation. If you have a strong background in credit card compliance and risk management and a passion for upholding industry standards, we invite you to apply for this exciting opportunity.
- Develop and implement compliance strategies and policies in accordance with credit card and credit risk regulations and guidelines.
- Monitor and evaluate the effectiveness of existing compliance programs and identify areas for improvement.
- Conduct regular risk assessments to identify potential compliance issues and develop mitigation plans.
- Stay updated on industry regulations and communicate any changes or updates to relevant stakeholders.
- Collaborate with cross-functional teams to ensure compliance with internal policies and procedures.
- Conduct audits and reviews to ensure adherence to compliance standards and identify any potential risks.
- Develop and deliver training programs to educate employees on compliance policies and procedures.
- Investigate and resolve any compliance-related issues or complaints.
- Maintain accurate records and documentation of compliance activities.
- Communicate with regulatory bodies and respond to inquiries or requests for information.
- Provide guidance and support to other team members on compliance-related matters.
- Lead compliance projects and initiatives to enhance the overall compliance framework of the organization.
- Stay informed about industry best practices and make recommendations for process improvements.
- Represent the organization in meetings with regulatory bodies and other external stakeholders.
- Report on compliance activities and trends to senior management and make recommendations for improvement.
Extensive Knowledge Of Credit Card Regulations: A Principal Compliance Specialist At Discover Financial Services Should Possess A Thorough Understanding Of Credit Card Regulations At Both The Federal And State Levels. This Includes Knowledge Of Laws Such As The Fair Credit Billing Act (Fcba), Truth In Lending Act (Tila), And Fair Credit Reporting Act (Fcra).
Strong Understanding Of Credit Risk Management: As A Principal Compliance Specialist, It Is Important To Have A Deep Understanding Of Credit Risk Management Principles And Practices. This Includes Knowledge Of Credit Scoring Models, Credit Underwriting Guidelines, And Risk Assessment Frameworks.
Experience In Compliance Monitoring And Auditing: The Ideal Candidate Should Have Experience In Conducting Compliance Monitoring And Audits. This Includes The Ability To Identify Potential Compliance Risks And Develop Effective Mitigation Strategies.
Excellent Communication And Influencing Skills: As A Principal Compliance Specialist, It Is Crucial To Have Strong Communication And Influencing Skills. This Includes The Ability To Effectively Communicate Complex Compliance Requirements To Stakeholders At All Levels Of The Organization And Influence Decision-Making.
Relevant Experience In The Financial Services Industry: A Principal Compliance Specialist At Discover Financial Services Should Have At Least 5-7 Years Of Experience In The Financial Services Industry, With A Focus On Credit Card Compliance And Risk Management. This Includes Experience In A Similar Role At A Financial Institution Or Credit Card Company.
Risk Management
Financial Services
Data Analysis
Internal controls
Credit risk analysis
Regulatory compliance
Fraud prevention
Policy Development
Compliance monitoring
Audit Preparation
Credit Card Industry
Communication
Conflict Resolution
Emotional Intelligence
Leadership
Time management
creativity
Attention to detail
Teamwork
Adaptability
Problem-Solving
According to JobzMall, the average salary range for a Principal Compliance Specialist - Credit Card/Credit Risk in Riverwoods, IL 60015, USA is $113,000-$150,000 per year.
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Discover Financial Services, Inc. is an American financial services company that owns and operates Discover Bank, which offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards. It also owns and operates the Discover and Pulse networks, and owns Diners Club International.
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