Senior Principal Regulation W Compliance

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:What You’ll Do

• Oversee and manage Discover Bank's compliance with Regulation W. Lead a cross-functional team to establish and maintain a program that facilitates compliance with related regulatory requirements, partnering with colleagues across the Company in the identification and regulatory treatment of new and existing transactions between Discover Bank and its affiliates. 

• In executing functions relative to this role, this individual also has the responsibility of ensuring related controls are appropriately designed, implemented, and monitored for effectiveness. This individual also will serve as secretary for related committee meetings including senior- to executive-level leadership, with responsibilities inclusive of setting the agenda, developing clear and concise meeting materials, preparing speakers, and ensuring minutes are appropriately captured. 

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

How You’ll Do It

• Establish a clear understanding of Regulation W and its application to Discover Bank.

• Develop a comprehensive and centralized Regulation W program for Discover Bank. This includes establishing a control framework that provides for the timely awareness of intercompany transactions. It also includes ensuring all business lines are following respective policies and procedures, all intercompany transactions are being monitored, sufficient collateral exists when appropriate and potential instances of non-compliance are escalated in a timely manner. 

• Maintain Committee Charter, Affiliate Transactions Policy and all related procedures and job aids as well as ensure appropriate awareness of Regulation W through the development and routine deployment of training, executed in collaboration with the Legal Department.

• Serve as Committee Secretary which includes coordinating and facilitating Committee meetings, setting agendas, coordinating the preparation of materials and speakers, drafting meeting minutes and obtaining their approval. 

• Oversee the simplification and enhancement of the monthly servicing fee process, maintaining an inventory and coordinating updates of all intercompany agreements and support arm's length pricing analysis where appropriate. 

• Drive cross-functional working group focused on ensuring compliance with Regulation W of intercompany transactions and related activities.

• Serve as lead role in supporting internal and external audits and exams.

Qualifications You’ll Need

• Bachelor’s Degree in Accounting, Finance, Business Administration and Management, or related field

• 8+ years of experience in reporting, accounting, compliance, banking, or related field

• In lieu of education, 10+ years of experience in reporting, accounting, compliance, banking, or related field

Bonus Points If You Have

• Certified Public Accountant (CPA)

• Regulation W experience

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Application Deadline:

The application window for this position is anticipated to close on Mar-05-2024. 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 $103,000.00 to $174,200.00. 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)