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Senior Analyst, Model Risk Management (Validation)

SoFi

SoFi

IT
New York, NY, USA · San Francisco, CA, USA · Salt Lake City, UT, USA
Posted on Wednesday, January 24, 2024

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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.

The role

SoFi’s Model Risk Management (MRM) team has responsibility for assuring that all quantitative models used at SoFi are conceptually sound and are appropriately used and monitored. A major activity in support of this objective is independent validations of all models, and ultimately approving models for use or requiring rework. Other activities include conducting reviews of periodic model performance monitoring reports, approving model changes, classifying models into risk tiers, and driving adoption of modeling best practices.

SoFi holds a national bank charter from the Office of the Comptroller of the Currency, necessitating a strong Model Risk Management program. The Senior Analyst, Model Risk Management will perform highly visible and important work and will touch virtually all functional areas within SoFi.

What you’ll do:

The Senior Analyst, Model Risk Management will spend a majority of their time performing critical reviews of (or “validating”) quantitative models planned for use at SoFi. The analyst will read model documentation and engage in dialogue with model developers to understand how the model was built and how it functions. The analyst will assess the suitability of data used to build the model, the conceptual soundness of the modeling approach, and the appropriateness of the testing protocols and diagnostic metrics used on the model. The analyst will review results of diagnostic testing and analysis performed by the model owner and will conduct confirmatory or additional work as needed to have confidence in the model. The analyst will summarize their work and findings in a detailed written report, which will include formal recommendations and any required remediation work.

The models to be validated will cover a range of statistical approaches from basic regression to cutting-edge machine learning algorithms. The models will also span multiple areas of the business, from credit risk scorecards to models used for optimizing back-office operational processes.

What you’ll need:

  • Minimum 5 years of related experience with a Bachelor’s degree in a quantitative discipline; or 3 years and a Master’s degree; or a PhD without experience; or equivalent experience
  • Strong analytical skills with formal training in statistical analysis and demonstrated ability to drive business enhancements through data driven proposals
  • Strong writing skills; ability to communicate technical concepts in understandable terms
  • Proficiency in Python or R
  • Self-starter who is comfortable working both alone and closely with teammates and business partners

Nice to have:

  • Prior model risk management experience in a banking environment
  • Background in machine learning and artificial intelligence models
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.