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Director, Fair and Responsible Banking



cottonwood heights, ut, usa · San Francisco, CA, USA · New York, NY, USA · Frisco, TX, USA
Posted on Monday, December 11, 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.

The role:

Work closely with the Head of Fair Lending and Responsible Banking (FLRB) to manage SoFi’s 2nd line FLRB program. Engage in enterprise-wide consulting on matters relating to Fair Banking and UDAAP Compliance. Interact across all lines of business and participate in regulatory exams. Work with the Head of FLRB to establish enterprise level policy and governance and complete annual FLRB Risk Assessment. Partner with the FLRB analytics team to execute the testing and monitoring plan.

What you’ll do:

Lead a team of FLRB professionals (1-3 direct reports)

Act as a liaison and subject matter expert to Compliance, Legal, Risk and 1st lines of business personnel in the development and revision of lending policies and procedure manuals as they relate to FLRB

Execute on relevant practices and governance to support the FLRB program, including FLRB standards for new product approvals, material product changes, model and strategy reviews.

Coordinate with other functional managers in in the first and second lines of defense in the development of procedures to ensure that fair lending compliance-related policies and procedures are being followed and updated as required.

● Support the first and second line data analytics teams with regard to data quality, mapping and other interrelated functions

Participate in regulatory and 3rd line fair lending or UDAAP examinations as required

Write reports for any process or fair lending or UDAAP issue

Support the analytical staff related to compliance with fair lending laws and seek opportunities for recommended improvements and/or any required remediation

Participate in meetings of with regulators and with enterprise lending/banking departments for review and consultation on new and existing products, systems and procedures

Review fair lending and UDAAP training materials and the appropriate audience for such training on an annual / on-going basis

Provide subject matter expert guidance, support and leadership to compliance personnel, Lines of Business and Audit with regard to fair lending and UDAAP issues

Oversee special projects as assigned

What you’ll need:

Possess and maintain superior knowledge of compliance laws and regulations including fair lending, HMDA, UDAAP and other applicable consumer compliance regulations.

Seven (7) plus years of focused fair lending and responsible banking experience at large regional financial institution. At least three (3) of those years in a leadership capacity.

  • In-depth experience across multiple lending and depository products (including card, personal loans and student lending).
  • Applied experience in development and execution of fair lending and UDAAP risk assessments
  • Applied experience with fair lending testing and monitoring methodologies including matched pair and redlining analysis
  • Applied experience in fair lending analytics, including disparate impact analysis

Excellent verbal and written communication skills

Substantial broad-based knowledge and experience in applying laws and regulations, designing, managing and overseeing compliance programs and processes and handling regulatory matters

Ability to communicate and work with various regulatory agencies

Ability to manage implementation of regulatory requirements with assigned LOBs

Strong analytical skills

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.