Principal Compliance Specialist - Compliance Monitoring and Testing Strategy
Are you a highly skilled and driven compliance professional looking for a new opportunity? Join Discover Financial Services as our Principal Compliance Specialist for our Compliance Monitoring and Testing Strategy team. In this role, you will play a crucial role in ensuring our company's compliance with all regulatory requirements and internal policies. We are seeking a detail-oriented individual with a strong understanding of compliance laws and regulations, exceptional analytical skills, and the ability to think strategically. If you are passionate about compliance and have a proven track record of developing and implementing effective compliance monitoring and testing strategies, we want to hear from you. Join our dynamic team and make an impact at one of the leading financial services companies in the industry.
- Develop and implement effective compliance monitoring and testing strategies to ensure company compliance with all regulatory requirements and internal policies.
- Conduct thorough and timely reviews of company practices and processes to identify potential compliance risks.
- Analyze and interpret complex regulatory requirements to provide guidance and recommendations to the company.
- Collaborate with cross-functional teams to implement corrective actions and process improvements based on monitoring and testing findings.
- Stay up-to-date on changes in regulatory requirements and industry best practices, and communicate any potential impact to the company.
- Develop and maintain strong relationships with internal stakeholders to promote a culture of compliance throughout the organization.
- Prepare and present reports and findings to senior management and regulatory agencies as needed.
- Act as a subject matter expert and provide guidance to other compliance professionals within the company.
- Identify potential training needs and develop training materials to educate employees on compliance policies and procedures.
- Proactively identify compliance risks and provide recommendations for mitigation.
- Lead and participate in compliance-related projects and initiatives.
- Continuously review and improve the company's compliance monitoring and testing program to ensure effectiveness and efficiency.
- Adhere to all company policies and procedures and maintain confidentiality of sensitive information.
- Represent the company in a professional manner at industry events and conferences.
- Mentor and coach junior compliance team members to support their professional development.
Extensive Knowledge Of Regulatory Requirements: A Principal Compliance Specialist Should Possess In-Depth Knowledge Of Relevant Laws, Regulations, And Industry Standards, Such As The Bank Secrecy Act, Fair Credit Reporting Act, And Anti-Money Laundering Regulations.
Strong Analytical And Problem-Solving Skills: This Role Requires The Ability To Analyze Complex Data And Identify Potential Compliance Risks. The Ideal Candidate Should Be Able To Develop Effective Solutions To Mitigate These Risks And Make Recommendations To Senior Management.
Experience In Compliance Monitoring And Testing: Candidates Should Have At Least 5 Years Of Experience In Conducting Compliance Monitoring And Testing, Preferably In The Financial Services Industry. This Includes Designing And Executing Testing Programs, Identifying Control Gaps, And Providing Recommendations For Remediation.
Excellent Communication And Collaboration Skills: As A Principal Compliance Specialist, You Will Be Required To Collaborate With Various Teams, Including Legal, Risk, And Operations. Strong Communication Skills Are Essential For Effectively Communicating Compliance Requirements And Building Relationships With Key Stakeholders.
Leadership And Project Management Experience: This Role Requires The Ability To Lead And Manage Projects Related To Compliance Monitoring And Testing. The Ideal Candidate Should Have Experience In Managing Teams And Driving Results Within A Fast-Paced And Dynamic Environment. Project Management Skills, Such As Time Management And Prioritization, Are Also Crucial For Success In This Role.
Risk Management
Quality Assurance
Process Improvement
Data Analysis
Internal controls
Regulatory compliance
Compliance Training
Policy Development
Compliance assessments
Audit planning
Program
Audit Reports
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 - Compliance Monitoring and Testing Strategy is $109,000 to $159,000 per year. This range can vary depending on factors such as location, company size and industry. Some factors that can affect salary range include:
- Location: Salaries can vary based on the cost of living in a particular location. For example, a Principal Compliance Specialist working in a major city such as New York or San Francisco may earn a higher salary
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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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