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Director & Senior Counsel- Deposits at Discover

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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 

Director and Senior Counsel- Deposits

Company Overview:

Discover Financial Services is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories.

Discover’s vision is to be the leading direct bank and payments partner and its mission is to help people spend smarter, manage debt better and save more so they achieve a brighter financial future.

At Discover, be part of a culture where diversity, teamwork and collaboration reign. Join a company that is just as employee-focused as it is on its customers, and which is consistently awarded for both. We’re all about people and our employees are why Discover is a great place to work. Be the reason we help millions of consumers build a brighter financial future and achieve yours along the way with a rewarding career.

Position Overview:

The Director and Senior Counsel- Deposits serves as the lead Deposit attorney and leads a team responsible for providing legal advice, direction and training to assigned internal business partners. Under the direction of a Vice President- Deputy General Counsel, the incumbents of this role identify, assess and communicate legal and relevant regulatory requirements and industry best practices relevant to the Company and its businesses, manages assigned resources and budgets, including outside counsel spend. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business units risk appetite and all risk and compliance program requirements.

Responsibilities:

  • Engages with Management Committee and Executive Committee level staff, as well as support of key governance committees.

  • Experience with digital deposits platforms, remote deposit capture, mobile account opening, and online account management.

  • Exercises prudent discretion and decision-making skills by advising business clients on strategic and complex issues and requirements such as on new initiatives, compliance with laws, regulations, policies and procedures, contract review and analysis, training, corrective actions, risk and issues raised in governance committees.

  • Identifies, assesses, communicates, and provides oversight and strategic guidance on new or proposed legal and regulatory requirements, emerging legal and regulatory risks and trends.

  • Consults with and advises clients on matters regarding deposits and/or banking law.

  • Works with business unit risk officers regarding compliance with laws and regulations and development of practices and procedures designed to assure compliance with such laws.

  • Reviews and drafts corporate and/or customer communications and disclosures, including for regulatory filings and consumer communications.

  • Contributes to the creation of a favorable regulatory environment, such as devising and drafting regulatory and legislative proposals to achieve business objectives, analyzing and preparing comment letters and position papers on proposed regulations and legislation, and analyzing and advising business clients on new and amended regulations and laws

  • Exercises prudent discretion and decision-making to represent and/or advocate on the company’s behalf before regulatory or judicial bodies, as necessary, or in dealings with counter-parties on matters such as litigation, commercial transactions, regulatory examinations and supervisory matters, comment letters and position papers on proposed regulations, and legislation that may impact the company.

  • Manages resources, as assigned, including overhead, outside counsel and other budgets to achieve Law’s financial goals.

  • Supervises and manages a team to be a higher performance contributor to achieving corporate and client needs in areas where errors or imprudent risk taking can have a significant impact on Discover's objectives.

Qualifications

  • Juris Doctorate from an Accredited Law School

  • 10+ years of experience in consumer deposits (Reg D, E, P, Q, AA, CC, and DD).

  • License to practice law in Illinois or eligible for admission in house license in Illinois

  • Excellent interpersonal skills and the ability to influence others and build and foster internal and external relationships

  • Ability to communicate effectively both verbally and in writing with all levels of the organization including senior management

  • Experience driving, prioritizing, and effectively managing cross-functional initiatives

  • A versatile and innovative pro-active thought leader, with strong judgment, initiative and empathy.

  • Prior people management experience required.

  • #LI-ML2

  • #Remote

  • #BI-Remote

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.

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Candidate Location Eligibility:
Chicago, IL

Technology we use

  • Engineering
  • Product
  • Sales & Marketing
    • AWS (Amazon Web Services)Languages
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    • Neo4jLanguages
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    • Continuous Delivery Management
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    • Reactive ProgrammingManagement
    • Site Reliability EngineeringManagement
    • SalesforceCRM

What are Discover Perks + Benefits

Discover Benefits Overview

Start enjoying great benefits Day 1 — We support you with the same dedication we bring to all of our customers. Our comprehensive benefits package features first-class insurance, financial planning support and excellent perks designed to help you reach your goals and live a rich, healthy life.

Check out more of our amazing employee benefits at mydiscoverbenefits.com

Culture
Volunteer in local community
Discover’s business is built on helping people, and we invest in the community (Blessing Backpacks, Boys & Girls Clubs, Big Brothers/Sisters) to demonstrate our commitment to a brighter future.
Partners with Nonprofits
Friends outside of work
Intracompany committees
Open door policy
Team owned deliverables
Team based strategic planning
Group brainstorming sessions
Open office floor plan
Diversity
Dedicated Diversity/Inclusion Staff
Unconscious bias training
Diversity manifesto
Diversity Employee Resource Groups
Hiring Practices that Promote Diversity
Health Insurance & Wellness Benefits
Flexible Spending Account (FSA)
You can open a separate Health Care FSA (HCFSA) and contribute up to $2,650 tax-free from your paycheck to reimburse yourself for eligible out-of-pocket expenses.
Disability Insurance
Employees receive Short-Term Disability Insurance at no cost.
Dental Benefits
Discover offers two dental plan options — Standard and Premier — both are administered by MetLife.
Vision Benefits
Discover offers two vision plan options — Standard and Premier through VSP.
Health Insurance Benefits
Discover offers a variety of medical plans for you and eligible family members, so that you can choose the benefit plan that suits your needs.
Life Insurance
As a Discover employee, you receive Basic Life Insurance of one times your HWEE (up to $500,000) at no cost to you.
Pet Insurance
Purchase medical coverage at a discounted rate for your beloved family pet. The more pets you insure, the greater the discount.
Wellness Programs
Help balance your work and personal life with a wide variety of free and discounted resource and referral services including family and relationship counseling and financial guidance.
Onsite Gym
Mental Health Benefits
Retirement & Stock Options Benefits
401(K)
You may elect to contribute 1% to 30% of your eligible base salary, commissions and bonus on a pre-tax basis, up to IRS limits every year.
401(K) Matching
Discover matches up to 6% of the pre-tax contributions you make to the 401(k) Plan.
Employee Stock Purchase Plan
The ESPP provides eligible employees with an opportunity to purchase shares of Discover common stock through payroll deductions at a 5% discount.
Performance Bonus
Match charitable contributions
Child Care & Parental Leave Benefits
Child Care Benefits
Generous Parental Leave
Flexible Work Schedule
Remote Work Program
Family Medical Leave
Adoption Assistance
Discover helps eligible employees and their families with the costs of adoption by reimbursing certain expenses.
Company sponsored family events
Vacation & Time Off Benefits
Generous PTO
Discover has a Paid Time Off of 4 to 5 Weeks of paid time per year.
Paid Volunteer Time
Paid Holidays
Paid Sick Days
Perks & Discounts
Casual Dress
Commuter Benefits
When you enroll in the Commuter Benefits Program at WageWorks, you’ll save on taxes on mass-transit passes, parking and other eligible expenses.
Company Outings
Game Room
Parking
Recreational Clubs
Relocation Assistance
Fitness Subsidies
Professional Development Benefits
Job Training & Conferences
Tuition Reimbursement
Discover provides tuition reimbursement and a full-ride bachelor's degree program for select online degree programs.
Diversity Program
Lunch and learns
Cross functional training encouraged
Promote from within
Mentorship program
Continuing Education stipend
Time allotted for learning
Online course subscriptions available
Customized development tracks

An Insider's view of Discover

What’s the vibe like in the office?

The cool thing about working at Discover is the wonderful collaborative environment we have and all the smart, talented and fun people we work with every day to continuously work on innovations.

Hiba

AWS Cloud Engineer

What does your typical day look like?

I enjoy working at Discover because I get to work with and collaborate with talented people who are passionate about what they do, and together we get to help others. We work constructively and cross-functionally to provide the best and newest products for our users and provide exceptional support for our customers!

Mandy

Project Manager, Advanced Analytics Platform

How does the company support your career growth?

There are two reasons I enjoy working at Discover. First, I enjoy the challenging and meaningful work. Second, my career path at Discover is mine to shape. My managers have supported me when I wanted to learn more and move within the company.

George

Senior Manager, Software Engineering

What is your vision for the company?

My vision of the company is that we create rewarding experiences in lives of our customers every day through analytics.

Kumar

SVP, CDO Advanced Analytics Platforms

What’s the vibe like in the office?

I love working at Discover because of how the company invests in its people and innovation. The environment is encouraging and the smart people around you makes it an amazing experience every day!

Brent

Director, Digital Analytics

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