Senior Director, Student Lending Risk
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.
Senior Director, Risk Management - Student Lending will have responsibility for partnering with the Business Unit, Capital Markets, Finance, Operations, Legal and Compliance teams to implement value added risk strategies across our Student Lending portfolios - including in-school and refinance products. This role is responsible for the design and implementation of Corporate Risk Management's (CRM) monitoring of and reporting on the performance of the student loan portfolio. In addition, the role will develop and execute a risk-based annual testing plan; including, documenting and communicating results, and escalating issues as necessary. Position will be the primary contact point for review and challenge of Business Unit (BU) credit related activities.
What You'll Do:
Innovate... we need you to bring your brightest ideas to building student loan origination strategies from the ground up. This means architecting pre-screen, post-screen, exposure, and pricing constructs - including building offer optimization.
Data Driven... architect the future of lending with an optimal real-time data ecosystem - including multi-product internal, transactional, bureau, third-party, and alternative data
Challenge the Status Quo... build-out a comprehensive credit risk experimentation plan for the student loan portfolio across all product dimensions, channels, and credit segments
Build the Future... oversee the development of new scorecards and/or develop the management structure to track and assess scorecard performance.
Optimize... Make adjustments as needed to optimize profitability. Work with Capital Markets and Pricing to ensure pricing strategies are optimized.
Control the Risk... Develop and execute a risk-based annual Risk Control Assessment (RCA) testing plan evaluating policy, process, and infrastructure controls; including, documenting and communicating results, and escalating issues as necessary
Drive Performance Outcomes... Manage the credit performance/outcomes associated with each vintage of business ensuring appropriate instrumentation, performance metric monitoring, and ownership of corrective action plans with portfolio management / collections strategy
Risk Controllership... Review and challenge material estimates and/or the processes that provide estimates used in managing the products, including loss forecast, ACL/Allowance for Credit Loss, stress tests, and loss assumptions
Be a Risk SME... Serve as a subject matter expert for the Student Lending business. Drive advanced monitoring framework to segment/refine underwriting and program requirements to ensure risk adjusted returns and KRI/Key Risk Indicator performance outcomes through credit lifecycle.
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:
10-15 years of relevant risk management, risk analytics, consumer lending, and/or underwriting strategy work experience.
Preferred: Advanced degree in an analytical discipline
Why You'll Love Working Here:
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.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
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.