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Innovation Endeavors

Enterprise Third Party Risk Governance Senior Analyst



Frisco, TX, USA
Posted on Monday, January 22, 2024

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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

SoFi's Risk Management team has responsibility for ensuring growth in lending and other member related activities are consistent with the company's risk appetite. The team holistically manages enterprise, credit, deposit products, fraud prevention, portfolio management, infrastructure, and business operating risks. In addition, Risk Management directly manages enterprise partners, ensures strong compliance with regulations, acts as a multi-layered second line of defense in oversight of business operations, and works to ensure risk policies enable a member-first experience.

The role of Enterprise Third Party Risk Governance Senior Analyst will be responsible for partnering with SoFi Business Units, internal stakeholders and external third party service providers to support SoFi’s Third Party Risk Management Program. This role will lead the onboarding, due diligence evaluation, ongoing monitoring and second line governance activities for SoFi Technologies and its subsidiaries in accordance with Program requirements.

Key oversight support domains include:

  • New Supplier Onboarding
  • Active Supplier Monitoring
  • Supplier Risk and Due Diligence Assessment
  • Risk Identification, Mitigation/ Monitoring and Reporting Activities
  • KPI/KRI Management and Reporting

Key support domains include:

  • Facilitate the supplier lifecycle (including supplier onboarding and due diligence assessment, ongoing monitoring oversight and termination) in accordance with SoFi Third Party Risk Management Program requirements
  • Execute second line governance activities including risk assessment, exception management and ongoing monitoring oversight for SoFi’s active supplier population
  • Lead education campaigns to increase outsourced risk awareness and ensure policy and procedure adherence for first line supplier relationship managers
  • Support the development of Committee reporting materials detailing ecosystem health and enterprise supplier performance
  • Support the execution of process controls and audit management from federal, state, investor and Internal Audit examinations.
  • Track performance of Key Risk and Performance Indicators (KRIs/ KPIs) and other metrics related to the subsidiary supplier ecosystem

By joining SoFi, you'll become part of a forward-thinking company that is transforming financial services for the better. We offer the excitement of a rapidly growing startup with the stability of an industry leading leadership team.

What you’ll do:

  • Innovate... Bring your brightest ideas to ensure risk is being managed in alignment with regulatory guidance and best practice throughout third party life cycle (planning, due diligence, contract, on-going monitoring, and termination)
  • Make Data Driven Decisions… Analyze documentation to assess supplier risk and evidence of successful and efficient performance
  • Leave your Mark… Communicate the efficacy of oversight strategies and overall health of the supplier ecosystem through clear and concise reporting
  • Provide Effective Challenge… Lead operating process and control improvement by reviewing, monitoring and testing internal controls and procedures associated with products, services and operations
  • Collaborate… Build effective relationships with stakeholders who own and support key third party relationships; gain commitment from stakeholders to help manage and improve SoFi’s risk posture by understanding business objectives to influence solution strategies
  • Be a Risk SME… Work in a collaborative, and constructive manner with business units and our internal and external stakeholders to enhance the effectiveness of processes and controls
  • Drive Performance Outcomes... Monitor the risk and control environment to ensure that exposures are kept at acceptable levels through issue monitoring administration and exception tracking and the oversight of remediation actions to improve overall Supplier performance

What you’ll need:

  • Bachelor’s degree
  • Minimum of five years of Second Line Third Party Risk Management experience in the Financial Services industry
  • Comprehensive knowledge of Third Party Risk Management methodologies, risk mitigation principles and outsourced risk governance best practice
  • Experience executing comprehensive third party risk governance framework activities in consideration of relevant regulations applicable to the financial services industry
  • Ability to provide consult to first line in consideration of business strategy and third party risk management objectives
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.
The Company hires the best qualified candidate for the job, without regard to protected characteristics.
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.