Operational Risk Director
Who we are
SoFi is a digital personal finance company whose mission is to help its members achieve financial independence to realize their ambitions, whether that be to buy a house one day, start a family on their own terms or be debt free. We aim to be at the center of our members’ financial lives, and to help every member Get Their Money Right®. By joining SoFi, you’ll become part of a forward-thinking company that is transforming financial services by embracing technology to build innovative loan products, investment tools, and more. One of the fastest growing fintech companies, we’ve grown from 250 employees in 2015 to over 1,500 employees today, and are well on our way to reaching 1 million members. With offices across the US, we offer the excitement of a rapidly growing startup with the stability of a seasoned management team and some of the best talent around. As an employer, we strive to hire employees who are committed to both our company’s mission and our desire to build the best culture in the world. If you are driven, passionate about what you do, and excited about the SoFi mission, we would love to hear from you.
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 Operational Risk Director will have responsibility for partnering with Business Units (Personal Lending, Home Loans, Invest, Money, Protect, Member, Student Lending), Capital Markets, Finance, Global Operations, Information Security, Privacy, Legal, Compliance, Internal Audit and the other Risk Management teams to ensure and drive operational efficiency, controls, monitoring, and constant process improvement across the organization.
Key oversight domains include:
Operational Risk Policies, Procedures and Controls
Business Continuity Plan and Process
BIA/Business Impact Analysis + RTO/Recovery Time Objectives
Risk Control Self-Assessment
Risk Incidence Response
Operational Risk Committee
In addition, this role is responsible for the design, implementation, and operationalization across SoFi’s first line of defense in operational risk. Initially, this role will assess, build foundational loss capture infrastructure, and review the risks through dashboards, reporting, business unit meetings, or other tools and systems to ensure risks are addressed early on and mitigation executed as soon as possible. This leader will review every process and function in the company to understand, map and describe in detail potential risks, controls, and control ownership. Operational Risk will leverage the Global Analytics Center of Excellence to build a data driven capability that proactively leverages enterprise data lakes to identify risk outliers, control violations, and pattern discovery.
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:
Challenge Status Quo... establish a comprehensive Operational Risk Governance, including Data Loss Collection systems, Key Risk Scenarios and Analysis that delivers on industry best practices, drives meaningful strategic insight, and provides a path from good-to-great for competency gaps.
Effective Challenge... evaluate process alignment with the company’s risk appetite, evaluate self-assessed controls, collect and monitor corrective action plans for internal and external processes, manage relationships to ensure execution of operational remediation plans and ongoing contract compliance.
Data Driven... architect the future of risk management with analytically based assessment capabilities; applying quantitative and qualitative analytical techniques to detect problems and improve reporting capabilities.
Control the Risk... work closely with business units’ owners, vendors, and other functional entities to design and implement control improvements. Lead validation process of adequacy and effectiveness of controls for new and existing products and lines of business.
Drive Performance Outcomes... deliver industry best practices, tools, systems, guidance, and training to increase analytical capabilities and risk-based results.
Be a Risk SME... effectively manage our company’s risks of loss resulting from potential inadequate or failed processes or systems, human factors or external events.
Innovate and iterate... we need you to bring your brightest ideas to keep a strong risk control area. This means managing Operational Risk functions that controls risk by iterating with multiple areas at SoFi.
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.
What you’ll need:
12+ years of relevant operational risk management and/or audit auditing disciplines.
Preferred: Advanced degree in an analytical discipline.
Nice to haves:
Extensive work in risk banking controls within regulated bank entities, registered broker dealer and/or financial services companies.
Why you’ll love working here
Competitive salary packages and bonuses
Comprehensive medical, dental, vision and life insurance benefits
Generous vacation and holidays
Paid parental leave for eligible employees
401(k) and education on retirement planning
Tuition reimbursement on approved programs
Monthly contribution up to $200 to help you pay off your student loans
Great health & well-being benefits including: telehealth parental support, subsidized gym program
Employer paid lunch program (except for remote employees)
Fully stocked kitchen (snacks and drinks)
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.