Senior Model Governance Manager

Risk New York City, New York


Description

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.

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 Model Governance Manager will have responsibility for all aspects of Model Risk Management & Governance, including but not limited to, oversight, validation, ongoing monitoring, inventory, fair lending analysis and audit needs.

This role reports to the Vice President, Risk Analytics & Strategy.

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:

  • Manage and enhance the Model Risk Management & Governance Policy which meets all criteria of OCC 2011-12 and FRB SR 11-7 guidance

  • Perform and oversee model development reviews and model implementation reviews across SoFi to ensure compliance of model development standards and procedures with regulatory requirements

  • Supervise or conduct model validations and ongoing monitoring

  • Ensure that thorough implementation testing is conducted and that models are observable once put into production

  • Establish and maintain a centralized log for model risk issues and tracking

  • Develop, monitor and report on key risk indicators and metrics and escalate when model metrics exceed the established thresholds

  • Engage with business units and model development to identify models and establish and maintain a complete model inventory

  • Develop analytics and reporting on the suite of models used within SoFi

  • Challenge current and proposed models and provide recommendations to model developers and users

  • Interact with risk committees, internal audit and regulators to provide appropriate reporting.

  • Interface with all line of business executives, business partners, model owners, model developers and model users.

What you’ll need:

  • A master’s degree in business, finance, quantitative methods or equivalent; graduate-level degree preferred

  • 7-10 years of experience in model risk governance at a financial institution

  • Thorough knowledge of the OCC and FRB model risk requirements
    Management experience

Nice to have:

  • Experience with Tableau and Python

  • Knowledge of fraud and deposit risk modeling

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.