hero

Investing in visionary founders, transformational technology and emergent ecosystems for a new world.

Innovation Endeavors
Innovation Endeavors
71
companies
649
Jobs

Director, Fair Lending and Responsible Banking

SoFi

SoFi

United States
Posted on Wednesday, June 12, 2024

Employee Applicant Privacy Notice

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 financial services company and national bank 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:

Work closely with the Head of Fair Lending and Responsible Banking (FLRB) to manage SoFi’s 2nd line Fair Lending Program. Engage in enterprise-wide consulting on matters relating to fair lending. Interact across all lines of business and participate in regulatory exams. Work with the Head of FLRB to establish enterprise level policy and governance, and complete annual Fair Lending Risk Assessment. Partner with the FLRB analytics team to execute the testing and monitoring plan.

What you’ll do:

Lead a team of FLRB professionals (1-3 direct reports)

Act as a liaison and subject matter expert to Compliance, Legal, Risk and lines of business personnel in the development and revision of lending policies and procedure manuals as they relate to fair lending

Execute on relevant practices and governance to support the fair lending program, including standards for new product approvals, material product changes, model and strategy reviews

Coordinate with other functional managers in the first and second lines of defense in the development of procedures to ensure that fair lending compliance-related policies and procedures are being followed and updated as required

● Support the first and second line data analytics teams with regard to data quality, mapping and other related functions

Participate in regulatory and third line fair lending examinations as required

Support the analytical staff related to compliance with fair lending laws, including required remediation and suggested improvements

Participate in meetings with regulators and with enterprise lending/banking departments for review and consultation on new and existing products, systems and procedures

Review fair lending training materials and the appropriate audience for such training on a regular basis

Provide subject matter expert guidance, support and leadership to compliance personnel, Lines of Business and Audit with regard to fair lending issues

Oversee and/or execute special projects as assigned

What you’ll need:

Possess and maintain superior knowledge of compliance laws and regulations including fair lending, UDAAP, HMDA and other applicable consumer compliance regulations

Seven (7) plus years of focused fair lending and responsible banking experience at large regional financial institution. At least five (5) of those years in a leadership capacity.

  • Applied experience in development and execution of fair lending risk assessments
  • Applied experience with fair lending testing and monitoring methodologies including matched pair and redlining analysis.
  • Experience covering multiple products, e.g., personal loans, credit card, student loans

Excellent verbal and written communication skills including testing and monitoring reports and exam and audit responses

Substantial broad-based knowledge and experience in applying laws and regulations, designing, managing and overseeing fair lending programs, and processes and handling regulatory matters

Ability to manage implementation of regulatory requirements with assigned lines of business

Strong analytical skills

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
SoFi is committed to embracing diversity. As part of this commitment, SoFi offers reasonable accommodations to candidates with physical or mental disabilities. If you need accommodations to participate in the job application or interview process, please let your recruiter know or email accommodations@sofi.com.
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.