Director, Fair and Responsible Banking
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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