Credit Strategy Analyst/Data Scientist, Personal Loans
Who we are:
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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.
SoFi’s Credit team manages credit risk activities for our lending products (Student Loan Refinance, Private Student Loan, Personal Loan, Credit Card, and Mortgage) - including credit strategies/policies for new account origination and portfolio management, collections/recovery strategies and operations, and risk and operational data science and analytics. The team designs data-driven strategies to ensure the growth in lending is consistent with the company’s risk appetite and helps create the products and experiences that put our members’ interests first.
The Senior Credit Strategy Analyst will work in the Credit team and have responsibilities to analyze and evaluate data to develop and propose value-added credit risk strategies for SoFi’s lending products, including Personal Loan, Student Loan Refinance, Private Student Loan, and Credit Card. The initial focus of the role will be on Personal Loan but the candidate may get opportunities to work on other lending products in the future.
The candidate will be responsible for developing and implementing personal loan underwriting and loan amount assignment strategies that meet our risk appetite, monitoring and analyzing the risk trends within the portfolio to provide insights and recommendations for strategy enhancement opportunities. She/he will be part of the Credit team with 1LOD responsibilities.
The Senior Credit Strategy Analyst will collaborate with cross-functional teams such as Business Units, Capital Markets, Product and Engineering, and use business knowledge and quantitative and analytical skills to drive revenue, control risk, and provide value to the company and consumers.
The ideal candidate will possess a data-driven analytics background and the strategic acumen to direct a function that draws strategic insights from data using database and statistical analysis tools to inform decisions and support SoFi’s overarching strategic goals relative to loss prevention and profit optimization. They bring new ways of thinking, data sources, technologies, and capabilities to SoFi.
What you’ll do:
- Innovate… Bring your brightest ideas to building risk strategies. This means you will architect credit underwriting, pre-screen targeting, risk tier assignment, and Loan amount assignment strategies.
- Data Driven… Your deep analysis will power the future of lending with an optimal real-time data ecosystem – including multi-product internal, bureau, third-party, and alternative data sources and uses.
- Iterate, learn, innovate… We are all responsible for innovation and must embrace data-driven decisions.
- Control the Risk and Drive Performance Outcomes … Understand credit risk and develop approaches to mitigate loss and responsibly grow revenue. Monitor the performance of strategies and portfolios. Document and communicate results and escalate issues as necessary. Identify gaps/opportunities and drive actions.
- Grow, Grow, Grow!… Be inspired by dynamic leaders and our rapidly growing business. We want YOU to be an inspired leader of tomorrow, so we are recruiting the best, brightest, and passionately quantitative team members.
What you’ll need:
- 4+ years of related experience
- Business acumen and work experience in the consumer lending business (loans or credit cards)
- Direct experience in the credit strategy analytical life cycle, including strategy and decision tree development, presentation, implementation validation, and post-implementation monitoring
- Proven analytical skills in conducting sophisticated analysis using customer performance data, bureau attributes, and other 3rd party variables to solve business problems
- Proficient skills in Excel, SQL, and/or Python
- A demonstrated ability to synthesize and communicate analysis to business partners and senior management
- High motivation to drive results, eager to learn, and able to work collaboratively in a fluid environment
- Knowledge/skills in analytical and modeling techniques such as Decision Trees, regression modeling, A/B Testing, and Tableau
- Preferred: 4+ years of consumer lending credit risk strategy work experience
- Preferred: Experience in analyzing and testing credit strategies to meet the fair lending requirements
- Preferred: Advanced degree (Master’s or PhD) with a quantitative major such as Statistics, Mathematics, or Engineering