Senior Principal Counsel – Employee Benefits and Executive Compensation

Remote Eligible

In-Office: Riverwoods, Illinois

About This Role

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:

Under the direction of a Director, this role involves working in a team to support and advise internal business clients, including the Total Rewards group, on benefits and executive compensation laws and initiatives. Typically, the role is that of an individual contributor, but in some circumstances, it may functionally lead work group(s) or small teams to deliver desired work output in a direct or indirect manner.


  • Exercises prudent discretion and decision-making capabilities to provide advice, counseling, training, and support to internal business clients on employee benefit and executive compensation matters, including health and welfare plans, retirement plans, severance plans, equity plans, and executive compensation programs.
  • Supports the drafting and updating of benefit plan and executive compensation documents, including plan documents, summary plan descriptions, regulatory disclosures, compensation plans, equity award certificates, proxy statements, and employee communications. 
  • Identifies, assesses, communicates information to internal business clients related to employee benefits and executive compensation laws, regulations, and guidance, including ERISA, the Internal Revenue Code, HIPAA, COBRA, and SEC disclosure obligations, and provides oversight and strategic guidance on new or proposed legal and regulatory requirements.
  • Supports vendor procurement by reviewing and negotiating contracts with employee benefits and executive compensation service providers.
  • Communicates effectively with clients, customers, leadership, committees, regulators, and counterparties as applicable.
  • Continuously improves and adheres to required standards and processes to promote a risk-aware culture and ensure efficient and effective risk management.

Minimum Qualifications 

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

  • J.D. Law
  • 3+ years Legal experience supporting consumer financial services products and services, or job related  
  • Active law license in good standing  

Preferred Qualifications 

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

  • 5+ years Legal experience supporting consumer financial services products and services, or job related  
  • Experience in employee benefits/executive compensation law and corporate law

Application Deadline:

The application window for this position is anticipated to close on May-27-2024. We encourage you to apply as soon as possible. The posting may be available past this date, but it is not guaranteed.


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.


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

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 & Pay Transparency Nondiscrimination Provision)

Discover complies with federal, state, and local laws applicable to qualified individuals with disabilities and is committed to providing reasonable accommodations. If you require a reasonable accommodation to search for a position, to complete an application, and/or to participate in an interview, please email Any information you provide regarding your accommodation needs will be kept confidential and will only be used to determine and provide necessary accommodation.

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