Credit Risk Manager - Lending

Risk
San Francisco, California
Claymont, Delaware

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 responsibilities for ensuring growth in lending and other member related activities are consistent with the company’s risk appetite. The team holistically manages credit, enterprise risk, deposit risk, fraud prevention, portfolio management, infrastructure, and business operating risk. In addition, Risk Management manages enterprise partners, ensures strong compliance with regulations, and works to ensure risk policies enable a member-first experience. 

The Credit Risk Manager, Risk Management – Lending will work in the Credit team and have responsibilities to analyze, develop, and propose value added risk strategies for SoFi’s lending products including Student Loans and Personal Loans. The Credit Risk Manager will partner with business partners such as Business Unit, Capital Markets, and Product, and use the business knowledge and analytical skills to drive revenue, control risk, and provide value to the company and consumers.

Initially, this role will focus on the SoFi Student Loan strategies, and the candidate will also have opportunities to work on SoFi Personal Loan strategies in the future if desired. Both lending products have been driving significant revenue growth for SoFi.

This role reports to the Sr. Director, Risk Management – Lending.

What you’ll do:

  • Innovate… Bring your brightest ideas to building risk strategies. This means you will architect the pre-screen, underwriting, and pricing optimization strategies.  
  • Data Driven… Your deep analysis will power the future of lending with an optimal real-time data ecosystem – including multi-product internal, bureau, third-party, and alternative data sources and uses.  
  • Challenge Status Quo… Design and implement credit risk testing for personal loans across different channels and credit segments, and leverage testing results to continuously optimize strategies.
  • Build the Future… Work collaboratively with Data Science team to design new models and tools that address Early Default, Credit Risk or Bankruptcy Risk. 
  • Control the Risk and Drive Performance Outcomes … Understand credit risk and develop approaches to mitigate loss and responsibly grow revenue. Monitor performance of strategies and portfolios. Document and communicate results and escalate issues as necessary. Identify gaps/opportunities and drive actions.  
  • Grow, Grow, Grow!… Be inspired by dynamic leaders and our rapidly growing business.  We want YOU to be an inspired leader of tomorrow, so we are recruiting the best, brightest, and passionately quantitative team members.  

What you’ll need:

  • 7+ years of related experience with a Bachelor’s degree; or 5+ years of related experience with a Master’s or PhD degree

  • Preferred: 5+ years of consumer lending risk strategy work experience

  • Strong analytical skills to pull data, conduct data analysis, and drive business enhancements through data driven business proposals

  • Proficient skills in SQL and Python

  • Preferred: knowledge/skills in Decision Trees and/or Tableau

  • Strong communications and presentation skills 

  • Ability to collaborate well with teammates and business partners and influence business decisions

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)

Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.

SoFi does not seek salary history information from job applicants.

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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