Senior Director - Credit Risk, Collections and Portfolio Management
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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 Collections.
Key responsibilities include second line oversight of:
The Collections Oversight (2LOD) Senior Staff Risk Analyst role is critical to success across SoFi Technologies, Inc., SoFi Bank, NA, and operating subsidiaries. The incumbent will contribute to the second-line oversight of the Collections ecosystem, including Forbearance, Digital Outreach Channels, Self Service Platform, Cross-Functional operational teams (On/Off Shore, In-House/3rd Party Agency & Ownership), and Collections Operations. Key team member in ensuring proper execution of effective controls, monitoring of performance, and rigorous change management.
As a second line of defense Collections Senior Staff Risk Analyst, you will bring key contributions to leveraging data sources, technologies, and capabilities at SoFi and will serve as conduit of 2nd line Collections oversight for our 1st line Collections as well as Consumer Lending products and technology teams. Responsible for driving and owning best-in-class rigorous controls processes, governance framework areas that drive strategic collections risk identification, risk aggregation, RAS/Risk Appetite Statements and metrics, and Credit Collections risk mitigation. You will make trade-offs across Collections and Recoveries effectiveness and efficiency while balancing regulatory and reputational considerations. You will also be responsible for monitoring baseline strategies such as targeting, risk segmentation, and rapid A/B tests against our largest & most innovative opportunities. Play a key oversight role along with serving as a point of contact for all Collections and Recovery items for the 2LOD team.
What you’ll do:
- Support end-to-end 2nd line Consumer Lending Collections Operations at SoFi and drive robust adherence and measuring to RAS metrics, risk identification, issue management, and regulatory reporting
- Win across data-driven insights, domain expertise, holistic view on risks, and effective challenge of 1LOD
- Drive accountability throughout the organization by setting up and coordinating effective risk operating cadence/rhythm that bridges strategy, execution oversight, and inherent/residual risks and ensures comprehensive key risk indicators (KRIs) rigor
- Lead Credible Challenge and Credit Governance - Challenge Partners to balance short term benefits with long term implications (through the cycle). Provide independent and effective oversight by identifying risks and working towards solutions. Champion the evolution of data governance structure, accuracy and practices
- Ensure that Forbearance Programs and settlement offers are operating effectively and comply with legal, compliance, and regulation guidelines and procedures; Ensure compliance with all federal and state laws, regulations, and company collection policies
- 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)
- 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 collections and evaluate the effectiveness of current policies and procedures
- Monitor operational performance, roll rates, delinquent inventory, and credit loss trends. Effectively communicate these trends to executive management
What you’ll need:
- 7+ years of collections and operations industry experience with a bachelor’s degree
- Collections industry knowledge, including a sound understanding of relevant regulations like FDCPA, TCPA, FCRA, and a working knowledge of the impact of CFPB’s Reg F on the collections landscape
- Experience with regulatory compliance and standards across credit, collections, and recoveries, and effectively and concisely communicating adherence
- Proven analytical and data mining skills in conducting sophisticated analysis using customer performance data, bureau attributes and other 3rd party variables
- Working familiarity with automated monitoring tools and incident remediation
- Strong analytical and problem-solving skills to evaluate workflows and procedures; identify and resolve problems in a timely manner; develop alternative solutions; work well in group problem-solving situations; use reason even when dealing with emotional topics; support SoFi’s overarching strategic goals relative to loss prevention
- Experience in digital outreach, personal messaging, web/app, channel segmentation optimization, and digital conversion rates
- High motivation to drive change, eager to learn, and able to work collaboratively in a complex and fluid environment
- Excellent verbal and written communication skills