Senior Director, Risk Management – Fraud Prevention

Risk Dallas, Texas


Description

About 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.

Senior Director, Risk Management - Fraud Prevention will have responsibility for partnering with Fraud Prevention Operations, Head of Credit, SoFi Business Units (Personal Lending, Home Loans, Invest, Money, Protect, Member, Student Lending), Capital Markets, Finance, Operations, Information Security, Privacy, Legal and Compliance teams to drive first line of defense oversight of all strategies across our Fraud Prevention risk domain. Senior Director, Risk Management - Fraud Prevention reports directly to Chief Risk Officer, SoFi.

Key oversight domains include:

  • Fraud Prevention - Strategy
  • Fraud Prevention - Policies
  • Fraud Prevention - Transaction and SafetyNet Monitoring
  • Fraud Prevention - Infrastructure and Data Enrichment
  • CyberFraud Fusion Center

In addition, this role is responsible for fraud prevention's implementation of Corporate Risk Management's (CRM) monitoring of and reporting on performance for the SoFi Corporate, subsidiary, and affiliates. This leader will develop and execute a risk-based annual Risk Control Assessment testing plan; including, documenting and communication results, and escalating issues as necessary.

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.

Responsibilities

  • Teamwork is Job 1... daily critical collaboration is necessary with Fraud Prevention Operations which resides in Global Operations. This is the conduit to execution of our Fraud Prevention Strategies and a critical feedback loop balance risk with member experience.
  • Members are our Passion... this role is the innovation factory for ensuring our SoFi members are protected from fraud at every touchpoint while enabling minimal friction throughout their journey. Opening our doors the widest implores creative solutions to managing the inherent risk but also allows serving as many members as possible.
  • Innovate... we need you to bring your brightest ideas to build a strong first line of defense from the ground up. This means architecting robust Fraud Prevention capabilities that manage risk holistically across multiple products/domains and simply are best in class when compared to Top 5 financial institutions.
  • Data Driven... Collaborate with Risk Analytics CoE to architect the future of fraud risk management with analytically based assessment capabilities; focus on management of material risks, intelligently interpret data to create an unrivaled level of accuracy in fraud detection and prevention.
  • Challenge Status Quo... build-out a comprehensive Fraud Prevention framework that delivers on industry best practices, drives meaningful strategic insight, and provides a path from good-to-great for competency gaps
  • Bespoke Product Line Strategies... manage all aspects of the development, implementation or enhancement of the enterprise Fraud Prevention program across SoFi Products, channels, and partners that includes prevention and detection advisory of internal and external fraud risks - including single transaction lending products, multi-transaction credit card, deposit products, and investment products
  • Control the Risk... Develop and oversee a corporate risk-based annual Risk Control Assessment (RCA) testing plan evaluating policy, process, and infrastructure controls; including, documenting and communication results, and escalating issues as necessary to Enterprise Risk Committee
  • Drive Performance Outcomes... Design effective fraud prevention domain risk controls that ensure risks are proactively identified, actively managed, clearly quantified, and volatility risk measured. When appropriate ensure mitigating business controls are developed, monitored, and effectiveness measured.
  • Risk Controllership... Independently review and challenge material estimates and/or the processes that provide estimates used in managing the products, including fraud loss forecast, scenario tests, and fraud loss assumptions
  • Be a Fraud Prevention SME... Serve as a subject matter expert for Fraud Prevention - including product specific risks, data sources/uses, cyber-fraud fusion of external risks with internal threats. Drive close collaboration with Information Security to ensure Member Security is maintained across fraud attempts/attacks and ensure remediation processes are built to protect SoFi from reputational, operational, or financial loss.
  • Build the Bench... Be the inspiration for our rapidly growing team, recruiting the best, brightest, and passionately quantitative. Share your broad experience across the organization and build the leaders of tomorrow.

Qualifications

  • 15+ years of relevant fraud risk management, risk analytics, consumer lending, and/or underwriting strategy work experience.
  • Preferred: Advanced degree in an analytical discipline
  • Strongly Preferred: Extensive work in advanced transactional risk management across credit card or deposit products at a significant issuer or payment network.

Benefits

  • Catered lunches, a fully stocked kitchen, and subsidized gym membership.
  • Competitive salary packages and bonuses.
  • A flexible vacation policy allows you to truly relax and reboot.
  • Comprehensive health, vision, dental, and life insurance as well as disability benefits.
  • 401(k) and education on retirement planning.
  • Tuition reimbursement on approved programs, up to $5,250 a year.
  • Monthly contribution to help you pay off your student loans.