Sr. Manager, Operational Risk & Internal Control (Student Lending)

Last updated 2 months ago
Location:Riverwoods, Illinois

Discover. A brighter future.

With Discover, you’ll have the chance to make a difference at one of the world’s leading digital banking and payments companies. From Day 1, you’ll do meaningful work you’re passionate about, with the support and resources you need for success. We value what makes each employee unique and provide a collaborative, team-based culture that gives everyone an opportunity to shine. Be the reason millions of people find a brighter financial future, while building the future you want, here at Discover.

Job Description

High impact, highly visible position that leads a team responsible for evaluation of risk strategies and mitigation approaches, risk exposure analysis, and drives control enhancement implementations within Discover Student Loans. Partners with the business to improve the control environment and resolve open issues. Collaborates across the enterprise to ensure business units meet regulatory requirements and corporate standards. Leads root cause analysis for operational risk events and consults on sustainable action plans to mitigate exposure; audits action plan closure. Executes various preventative risk management activities and initiatives such as risk and control assessments, operational risk events reporting, key risk indicator reporting, business continuity planning, records management, and new initiative process. Will be expected to bring thought leadership on best in class risk mitigation strategies.


  • Leads the team in performing walk-throughs and provides consultation on existing and new processes and, where appropriate, facilitates documentation thereof, including the identification of business risks and controls. The team is responsible for ensuring that controls are in place to mitigate legal, regulatory, and other applicable business risks. Where control gaps exist, provides consultation on the design of controls and monitors until execution.
  • Ensures accuracy and timeliness for operational risk event reporting for the Student Loans Business Unit owned by their team.
  • Collaborates with business partners to ensure root-cause analysis is performed and that appropriate corrective action plans are put in place to address issues stemming from the risk assessments, internal audits, regulatory findings, business unit test monitoring, operational risk incidents, and other applicable sources where gaps are identified.
  • Completes effective challenge of business validation activities and performs validations of remediation activities.
  • Provides relevant risk training to meet current and evolving organizational requirements and/or business needs.
  • Provides consultation on change management initiatives.
  • Identifies and leads initiatives to improve internal processes.
  • Develops and supports the team to ensure they are equipped and empowered to execute the assigned functions.

Minimum Qualifications

At a minimum, here’s what we need from you:

  • Bachelor's Degree in Business, Accounting, Finance, Computer Science, Liberal Arts, or related field
  • 2+ years of experience in People Management
  • 8+ years of experience in Compliance, Operations Management, Audit, Risk Management or related field
  • In lieu of a degree, 10+ years of experience in Compliance, Operations Management, Audit, Risk Management or related field

Preferred Qualifications

If we had our say, we’d also look for:

  • Student Lending experience
  • 1st Line Business Risk
  • Leadership experience with 5+ years of building and leading teams
  • Understanding of, and experience in, designing operational processes and process mapping
  • Lean certification or experience
  • Ability to thrive on ambiguous initiatives and lead them to a successful conclusion
  • Strong aptitude in defining frameworks and approaches for building risk and controls infrastructure
  • Proven track record of having the drive, initiative, and intellectual curiosity to understand issues in depth and identify root causes of problems
  • Proven ability to build relationships with business and/or technology partners

What are you waiting for? Apply today!

The same way we treat our employees is how we treat all applicants – with respect. Discover Financial Services is an equal opportunity employer (EEO is the law). We thrive on diversity & inclusion. You will be treated fairly throughout our recruiting process and without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status in consideration for a career at Discover.