Cara D. Schulz
Bartlett,USA
Summary
Strategic Audit Leader with extensive experience in compliance and risk management across diverse industries. Successfully directed large-scale audit engagements and enhanced control environments while fostering collaboration with cross-functional teams to ensure adherence to regulatory standards.
Overview
20
20
years of professional experience
Work History
Director of Internal Audit
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
Riverwoods, Illinois
07.2023 - Current
- Architected a dynamic, scalable centralized team to expand departmental resource capacity and enhanced objectivity in issue and regulatory validations. Successfully delivered over 600 issue validations while accelerating project delivery speeds by 25% through optimized workflows.
- Led end-to-end remediation management, directing validation of corrective actions through closure and confirming sustainable resolution of audit and regulatory issues across operational, compliance, and regulatory risk domains.
- Partnered cross-functionally with enterprise Technology, Data, Risk, Compliance, and Legal teams to align remediation strategies with regulatory expectations and emerging risk guidance (e.g., FDIC, FRB, CFPB, FFIEC).
- Managed and mentored audit managers and senior auditors, enhancing team capabilities in project management, issue evaluation, and regulatory interpretation.
- Directed sourcing and management of external contractors and internal resources to support internal objectives, optimizing workforce flexibility while ensuring quality, compliance, and cost efficiency.
- Execute vendor management controls and processes, ensuring effective due diligence, ongoing monitoring, and compliance with regulatory and enterprise risk standards.
- Represented people leaders in a department-wide working group, elevating leader perspectives across 600+ person department, shaping outcomes, strengthening effectiveness, and fostering a culture of care.
- Directed a multidisciplinary team of 120+ audit associates, leveraging specialized expertise to ensure the seamless execution of the annual audit plan.
Sr. Manager Compliance Auditor
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
Riverwoods, Illinois
07.2021 - 07.2023
- Developed structural enhancements to core departmental methodologies, transforming identified gaps into scalable process improvements, ensuring long-term operational excellence and alignment with evolving industry standards.
- Spearheaded the validation of remediation efforts for outstanding CFPB Consent Order requirements and regulatory guidance and collaborated with cross-functional teams to verify that internal controls met rigorous regulatory standards, successfully mitigated legal and operation risks through detailed audit evidence and gap analysis.
- Served as people leader panelist, providing thought leadership on career progression, mobility, and personal brand development, enhancing workforce development initiatives.
- Designed and delivered training to department associates on strategic initiatives and core methodologies, increasing overall effectiveness in team operations.
- Organized and managed a high-performing team of 15 direct reports with operational, business technology, and data analytics expertise, fostering a culture of continuous feedback and technical excellence.
- Championed quality assurance standards by reviewing audit work papers, ensuring compliance with departmental benchmarks and professional requirements.
Manager (Principal Lead Auditor)
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
Riverwoods, Illinois
01.2020 - 07.2021
- Directed validation testing for remediation actions taken by the enterprise to ensure compliance with regulatory expectations across Business Units, Compliance, Legal and Internal Audit for all banking and credit card product lines.
- Cultivated high-level stakeholder relationships to communicate and defend complex audit findings to senior management, pivoting discussions toward risk reduction and enterprise value.
- Optimized resource allocation and project prioritization, deploying subject matter expertise and specialized talent to ensure high-quality audit delivery within strict budgetary and time constraints.
- Led the inaugural enterprise-wide compliance review for the Servicemembers Civil Relief Act and the Military Lending Act protections, utilizing advanced data analytics for comprehensive transactional testing across all banking products, to identify manual processing errors and improve process efficiency.
- Fostered professional excellence through structured training and constructive feedback loops, accelerating the technical proficiency of associates.
- Participated in initiatives to identify opportunities to streamline and improve processes within the department.
- Created and led the department’s Culture team as part of the enterprise-wide Diversity, Equity and Inclusion (DE&I) initiative to further recognize and celebrate the cultures and holidays of the department’s employees and promote a more inclusive environment by educating the department on fairness, stereotypes, culture, bias, and racism.
Project Manager (Lead Auditor)
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
Riverwoods, Illinois
07.2017 - 01.2020
- Supervised a critical pre-implementation system review for student loan migrations, establishing comprehensive controls to ensure 100% data integrity and accuracy during the transition.
- Synthesized and presented audit progress and findings to senior management, translating complex audit findings into actionable strategies to strengthen the control environment and align with strategic objectives.
- Collaborated globally with the Shanghai data analysts to define technical requirements and execute complex data manipulation, ensuring rigorous testing and finalization of audit results.
- Drove audit excellence by establishing clear performance expectations and providing real-time feedback, ensuring team deliverables consistently met or exceeded departmental quality standards.
Senior Auditor
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
Riverwoods, Illinois
02.2015 - 07.2017
- Directed complex, risk-based audits and targeted reviews across the full consumer lending and banking lifecycle, including originations, marketing, servicing, and collections.
- Architected comprehensive audit work programs through the identification of key controls, analysis of enterprise and department risk assessments, and with the collaboration of subject matter experts to isolate high-risk controls and operational vulnerabilities.
- Identified critical control gaps and translated technical breakdowns into actionable risk insights, driving the development of robust remediation strategies.
Supervisor Compliance Auditor
CENTRAL STATES HEALTH & WELFARE AND PENSION FUNDS
Rosemont, Illinois
09.2009 - 02.2015
- Directed the collaboration of employers, Local Union representatives, and various department heads to resolve complex audits.
- Produced audit executive reports for the Board of Trustees, Legal Department, and specialized Subcommittees to drive informed governance and risk mitigation.
- Upheld rigorous quality assurance protocols, conducting deep-dive reviews of audit files to ensure 100% adherence to departmental benchmarks.
- Managed daily operations and workload distribution for a 10-person team, implementing project management strategies to consistently meet aggressive deadlines and organizational goals.
- Cultivated a culture of performance by conducting quarterly evaluations and providing actionable coaching to accelerate associate growth and technical proficiency.
- Facilitated the recruitment of new talent and orientation programs for new employees.
Senior Compliance Auditor
CENTRAL STATES HEALTH & WELFARE AND PENSION FUNDS
Rosemont, Illinois
06.2007 - 09.2009
Associate Compliance Auditor
CENTRAL STATES HEALTH & WELFARE AND PENSION FUNDS
Rosemont, Illinois
06.2006 - 05.2007
- Facilitated audit fieldwork by coordinating key stakeholders to secure necessary records and ensure testing transparency.
- Developed comprehensive audit plans based on preliminary research, outlining specific procedures to address identified risk areas.
- Analyzed payroll and tax documentation to verify the accuracy of contribution remittances, ensuring full compliance with collective bargaining agreements and contractual requirements.
- Evaluated risk exposure and delivered actionable recommendations to streamline audit workflows and improve testing efficiency.
- Calculated and reconciled audit discrepancies, actively assisting in the recovery and collection of outstanding findings.
Education
Bachelor of Science - Double Major in Finance and Insurance
ILLINOIS STATE UNIVERSITY
Normal01-2006
Skills
- Regulatory affairs
- Regulatory compliance
- Compliance auditing
- Risk assessment
- Risk management framework
- Data governance
- Data validation
- Audit analytics
- AuditBoard
- Pentana
- ServiceNow
- Oracle
- Project management
- People management
- Google Suite
- Microsoft Office Suite
Affiliations
- ACFE Member
- IIA Member
Professional Affiliations And Licenses
- Certified Fraud Examiner (CFE), Association of Certified Fraud Examiners (ACFE), 01/19/18, 708999
- Certified Internal Audit (CIA), Institute of Internal Auditors (IIA), In Progress, 08/01/26, Part 1
Timeline
Director of Internal Audit
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
07.2023 - Current
Sr. Manager Compliance Auditor
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
07.2021 - 07.2023
Manager (Principal Lead Auditor)
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
01.2020 - 07.2021
Project Manager (Lead Auditor)
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
07.2017 - 01.2020
Senior Auditor
CAPITAL ONE FINANCIAL / DISCOVER FINANCIAL SERVICES
02.2015 - 07.2017
Supervisor Compliance Auditor
CENTRAL STATES HEALTH & WELFARE AND PENSION FUNDS
09.2009 - 02.2015
Senior Compliance Auditor
CENTRAL STATES HEALTH & WELFARE AND PENSION FUNDS
06.2007 - 09.2009
Associate Compliance Auditor
CENTRAL STATES HEALTH & WELFARE AND PENSION FUNDS
06.2006 - 05.2007
Bachelor of Science - Double Major in Finance and Insurance
ILLINOIS STATE UNIVERSITY