Senior Risk Analytics - ACL and Capital Planning Manager

Risk
Dallas, Texas
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, U.S. 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 Senior Risk Analytics - ACL and Capital Planning Manager will have responsibility for developing an estimate of SoFi Bank, NA (proposed) ACL/Allowance for Credit Losses from a credit and risk perspective, assist in developing and documenting a robust provisioning methodology, and recommending prudential loan loss reserve ratios. This role will gather data, execute reporting and perform analysis in support of the allowance for loan loss process and methodology.

In addition to ACL, this role is responsible for building foundational Capital Planning and is  responsible for the planning, forecasting, and optimization of capital along the stress continuum, with the overarching objective of improving Return on Capital measures for SoFi Inc., SoFi Bank, NA (proposed), and subsidiaries.  This individual will be focused on optimization of scenarios across the stress continuum, ranging from steady state to stress environments, including external benchmark scenarios, CCAR, Recovery, and Resolution plans.  Our capabilities include accurately forecasting capital capacity and ratios and related measures, such as Risk-Weighted Assets; coordinating associated regulatory submissions; driving the optimization of capital across SoFi; and improving the systems and processes used to perform these activities.

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:

 

Allowance for Credit Losses (ACL)

  • Develop and execute recurring credit risk estimation models for ACL and stress testing purposes for all portfolios. Assess the reasonableness of PD/LGD/EL estimates, test and deliver results to senior partners in accordance with established requirements

  • Develop and maintain a CECL methodology along with any related calculations and reports

  • Prepare and distribute a quarterly allowance package

  • Prepare recurring credit stress testing, Dual Risk Rating, and other credit risk reports and dashboards as well as ad hoc credit risk analysis or reports as requested by management. Make recommendations regarding credit risk and policy where appropriate

  • Research and analyze GAAP, regulatory, control issues, and other relevant drivers and trends that may impact the ACL

  • Link macroeconomic factors to Expected Loss, reserve factors and roll rates to support historical analysis and extrapolation

  • Assist with additional Risk and Finance capital reporting as needed

  • Development and production of Allowance for Loan and Lease Losses (ALLL) methodology and reporting

  • Assist in the alignment of methodologies, data, and reports between the allowance, economic capital, and loss forecasting

Capital Planning

  • Build robust RWA/Risk Weighted Assets and capital planning workstream.

  • Analyze the workstream stress testing and projection methodologies and review the workstream methodologies for conceptual soundness, fitness for purpose, completeness of identification of estimation approaches, completeness of identification of assumptions, limitations and weaknesses.

  • Analyze the appropriateness of supporting materiality assessment, sensitivity analysis and capital impact analysis.

  • Apply subject matter expertise to the individual workstream and holistic capital planning process. Required expertise include combinations of foundational risk management (risk identification, stress testing, market risk, wholesale and retail credit risk, operational risk), balance sheet and capital forecasting.

  • Technical skills: hands on experience with regulatory or economic risk-based capital calculation and capital planning in line with regulatory frameworks including Basel III advanced approaches and SR 15-18.

What you’ll need:

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

  • 10+ years of experience in forecasting and/or capital planning at a financial institution

  • 12+ years experience working within a Risk Management organization – preferably in a national bank (NA) regulated financial institution

  • Experience in loss forecasting, capital analysis and stress testing

  • Thorough knowledge of the CECL, Basel, CCAR & other LLR requirements

  • Experience with Tableau and Python

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

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