Senior Director, Credit Risk - Originations
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.
Independent Risk Management
Contributing, developing, and maturing an industry-best Credit Risk Management organization across SoFi Technologies, Inc. The incumbent will architect comprehensive risk management capabilities for a rapidly growing bank holding company – ensuring robust defensive and offensive capabilities – maturing foundational risk identification/risk mitigation, risk management frameworks, and risk culture. The contributor will play an essential role in fostering regulatory readiness and maturing a strong effective challenge second line function across Credit Risk Governance and Controls across each product.
Key responsibilities include second line oversight of:
The Credit Risk Governance and Controls Oversight (2LOD) Senior Manager will provide an independent assessment of governance and controls for credit quality and the management of credit risk across SoFi Technologies, Inc., SoFi Bank, NA, and operating subsidiaries. They will ensure the implementation of SoFi’s governance framework and structures for each product line, evaluate the inventory of controls in place, and identify key risks to document and oversee. In addition, they will execute reviews and testing that requires subject matter expertise of the business units and credit functions under review. The incumbent ensures potential weaknesses at the counter party and/or portfolio level have been reported and an appropriate remediation plan is agreed to with the relevant stakeholders, and that risks and credit issues are properly reflected in both the local and global risk frameworks as necessary. They act as a mentor, and provide coaching and assistance to less experienced team members as part of reviews and activities. The incumbent will also assist in making required changes to Policy and Procedures and Quality Assessment Reviews as needed, or at least annually.
What you’ll do:
Win across data-driven insights, domain expertise, holistic view on risks, and participate in effective challenge of 1LOD Credit - implementing and managing governance frameworks across the various product lines - PL, SL, Cards, and Secured Lending
Drive accountability throughout the product organization by setting up and coordinating effective risk operating cadence/rhythm that bridge strategy, execution oversight, and inherent/residual risks and ensure comprehensive key risk indicators (KRIs) rigor.
Partner with colleagues in Regulatory Affairs to monitor policy and regulatory changes to determine requisite actions SoFi needs to take in response, as well as maintaining strong relationships with stakeholders in key regulatory agencies (e.g., OCC, U.S. Federal Reserve, and SEC).
Ensures emerging risks are identified and highlighted to senior management. Prepares executive summaries, periodic reports, and presentations summarizing findings and recommendations to Board and its Risk Committee and executive management
Recommends policy and procedural changes to executive management and business and credit units to correct deficiencies identified during reviews and strengthen the credit process. Evaluates the adequacy and effectiveness of credit data and credit tracking systems.
Work with Operations and EPD partners to identify gaps in system/operations process flows ensuring alignment of strategy/intent, execution, policies, state legalities, and regulatory guidelines as it relates to contacting delinquent customers
Review KPI/KRIs to ascertain the state of the product line and evaluate the effectiveness of current policies and procedures
What you’ll need:
10+ years Banking experience, preferably concentrated in 2nd Line Oversight of Credit Risk Management or specific Credit Risk sub-functions, with participation in establishing governance frameworks and control implementation and reporting
Demonstrates strong credit analytical skills and in-depth knowledge of lending products and capital markets (e.g. whole loan sales and securitization)
Experience with regulatory compliance and standards across credit, collections, recoveries, and effectively and concisely communicating adherence
Working familiarity with automated monitoring tools and incident remediation
Ability to work independently and handle a significant and diverse workload
Detail oriented with project management skills, strong verbal and written communication skills
Time management skills and the ability to complete multiple projects simultaneously and in a timely manner Solid diplomatic skills with the ability to resolve conflict
Could lead a team of reviewers and/or act as examiner in charge for reviews