The Compliance Manager/Project Manager - Compliance Vendor Management will work within Discover Financial Services (DFS) Corporate Compliance Group to ensure third party service providers undergo appropriate due diligence and comply with applicable laws and regulations affecting DFS networks and consumer banking products, including credit cards, deposits, home equity loans, personal loans and student loans. The Compliance Manager/Project Manager will collaborate with internal business partners, other compliance teams, Corporate Risk, Law and third party service providers to ensure that new and existing practices, policies, procedures and training, are designed to effectively mitigate legal and regulatory risk related to third-party service providers.Responsibilities include:
- Leading and coordinating due diligence requests within lines of business and third-party service providers
- Evaluating and scoring due diligence materials related to a third-party service providers compliance management system such as: policies and procedures, internal audit, change management, vendor oversight, training and complaints management programs
- Collaborating with business unit to remediate deficiencies related to a third-party service providers compliance management system or internal controls
- Providing training to internal business partners, to address all aspects of the compliance third party risk management process
- Reviewing, revising and, drafting policies, procedures, standards and guidelines to ensure business processes are in compliance with the Corporate Compliance Departments third-party risk management program
- Facilitate resolution/escalations of issues and produce and deliver reporting to business partners, Corporate Risk teams and the Compliance Committee.
- Ensuring DFS businesses and functions are adhering to standards with respect to third-party oversight and performance monitoring
- Developing and enhancing tools to perform initial risk assessments and third-party due diligence evaluations; and for issue management and ongoing oversight/performance monitoring
- Promote a risk-aware culture, ensure efficient and effective risk and compliance management practices by adhering to required standards and processes.
Skills Skills Required:
- Bachelors degree or equivalent required. Advanced degrees (Masters or JD) are a plus
- 5+ years of audit, compliance or risk management experience preferably with a financial institution or regulatory agency. Third-party risk management experience is a plus.
- Knowledge and experience with regulations that govern financial institutions including but not limited to: Bank Secrecy Act, Equal Credit Opportunity Act, Electronic Funds Transfer Act, Regulation CC, Truth in Savings Act, Service members Civil Relief Act, Fair Credit Reporting Act, Truth In Lending Act, Federal Trade Commission Act, Fair Debt Collection Practices Act, Telephone Consumer Protection Act, Gramm-Leach Bliley Act, Privacy of Consumer Financial Information, Unfair, Deceptive, Abusive Acts or Practices.
- Understanding of corporate compliance programs including risk assessments, testing and monitoring, training, policy development and change management.
- Ability to communicate effectively both verbally and in writing across all business lines, to owners of third-party relationships, compliance teams, attorneys and third parties.
- The candidate should be able to identify compliance risks inherent within third-party service, and make recommendations to effectively mitigate those risks.
- Experience with the Archer GRC solution is desired.
- Ability to communicate effectively (both orally and in writing) with business partners, management, attorneys and third-parties
- Strong organizational skills and ability to prioritize and multi-task
- Strong analysis, decision-making and logic skills
- Self-motivated, display a high level of initiative
- Proficiency with MS Office (Word, Excel, PowerPoint, other) and Outlook
- Ability to work independently with minimum supervision, as well as work with team members
- Certified Regulatory Compliance Manager (CRCM) or other relevant certification is preferred but not required
- Ability to travel up to 10%.
We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.
A little about us:
Discover is one of the most recognized brands in U.S. financial services. We’re a direct banking and payment services company built on a legacy of innovation and customer service.