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Director of Fraud Investigation



Accounting & Finance
cottonwood heights, ut, usa
Posted on Saturday, September 2, 2023

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Who we are:

Shape a brighter financial future with us.

Together with our members, we’re changing the way people think about and interact with personal finance.

We’re a next-generation fintech company using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we’re at the forefront. We’re proud to come to work every day knowing that what we do has a direct impact on people’s lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.

About the Role
SoFi’s Fraud Prevention Center of Excellence team has responsibility for ensuring responsible growth in lending, banking, investing and other member related activities are consistent with the company’s risk
appetite. The team holistically manages enterprise, credit, deposit products, fraud prevention, portfolio management, infrastructure, and business operating risks. In addition, Fraud Prevention CoE directly manages enterprise partners, ensures strong compliance with regulations, acts as a multi-layered second line of defense in oversight of business operations, and works to ensure risk policies enable a member-first experience.
Director of Investigation will have the responsibility managing teams of fraud investigators located domestically and at Global Delivery Center. The role will be tasked to implement and iterate Fraud Investigation standards, standardize SOP, identify and incorporate automation tools to enhance Investigators efficacy and efficiency, and drive accountability. The role will drive execution plans across different products to ensure consistent Member experience while meeting Investigation standards. You will partner with Fraud Prevention Policy, Operations Analytics, Fraud Platform, AML, Legal and Compliance teams to drive operations excellence in the first line of defense in the fraud prevention domain. Director of Investigation reports directly
to the Senior Director of Global Fraud Operations.

Key responsibilities include:
1. Drive process change management, leveraging data to drive insights and improvement by partnering with Operations analytics.
2. Lead and coach investigators on productivity while driving accountability and efficacy.
3. Develop and implement SOPs for new processes.
4. Identify opportunities to reduce fraud risk while delivering better Member experience.
5. Partner with workforce management to balance cost and capacity to meet established SLAs.
6. Identify opportunity for financial recovery through other financial institutions or law enforcement.
7. Develop and implement training across Investigation to ensure delivery of consistent high-quality products.
8. Partnering with Quality Assurance teams to independently validate high-quality delivery.
9. Provide feedback to the policy team on emerging fraud patterns, validate identified exposure points either through message board or escalation.
10. Support Legal and complaints on referral cases.

By joining SoFi, you’ll become part of a forward-thinking company that is transforming financial services for the better. We offer the excitement of a rapidly growing startup with the stability of
an industry leading leadership team.

● Teamwork is Job 1… daily critical collaboration is necessary with Investigators, BSA, Fraud Prevention Policy, Operations Control, and Engineering Product Design. This is the conduit to execution of our Fraud Investigation Strategies and a critical feedback loop balance risk with member experience.
● Members are our Passion… ensure our SoFi members are protected from fraud at every touchpoint while enabling minimal friction throughout their journey. Opening our doors the widest implores creative solutions to managing the inherent risk but also allows serving as many members as possible.
● Innovate… we need you to bring your brightest ideas to build best-in-class investigation processes across SoFi’s wide suite of products.
● Data Driven… Collaborate with Workforce management, Operations Analytics and Risk Infrastructure to help architect the future of fraud investigation with analytically based assessment and deployment capabilities.
● Challenge Status Quo… constantly evaluate the adequacy of operational procedure and put in place a process to optimize cost, member experience, and team morale; re-evaluate technological infrastructure to continuously optimize the member experience.
● Drive Performance Outcomes… Design effective controls that ensure operational risks are proactively identified and escalated, actively managed, clearly quantified and measured to drive accountability.
● Risk Controllership… Independently review and challenge material estimates and/or the processes that provide estimates used in managing the process and capacity.
● Be a Fraud Prevention Investigation SME… Serve as a subject matter expert for Fraud Prevention Investigation – including process, processes, controls, and KPIs. Optimal team performance and ensure Member Security is maintained across fraud
attempts/attacks and ensure remediation playbook are developed and executable to protect SoFi from reputational, operational, or financial loss.

● 10+ years of relevant fraud or financial crime operations experience managing multiple teams in a large or super regional Financial Institutions.
● Strongly Preferred: Extensive work in Fraud Investigation operations and use data to drive operational excellence.
● Investment Securities Fraud experience is a plus.

Compensation and Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location.
To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
New York applicants: Notice of Employee Rights
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Internal Employees
If you are a current employee, do not apply here - please navigate to our Internal Job Board in Greenhouse to apply to our open roles.