Senior Director of Central Compliance & Strategy, SoFi
$176-302.5k
+ Eligible for a bonus & Long term incentives
Mobile & online personal finance services
Be an early applicant
Mobile & online personal finance services
1001+ employees
Be an early applicant
$176-302.5k
+ Eligible for a bonus & Long term incentives
1001+ employees
Company mission
To help people reach financial independence to realize their ambitions.
Role
Who you are
- 15+ years of experience and knowledge in large banking organizations including expertise in applicable banking laws/regulations/guidance regulations, and working knowledge in BSA/AML/OFAC, fair lending, and privacy
- Strong project management skills with the ability to prioritize multiple demands, tracking deliverables for the Compliance organization, creating milestones and project plans to ensure timely completion of deliverables
- Experience developing and implementing a compliance management program under heightened standards. Experience in developing and motivating teams under pressure
- Strong work ethic, highest integrity, and a can-do positive attitude
- Must be an effective change agent and collaborator, possess the skills and willingness to perform duties that are a combination of tactical, transactional, and strategic in nature
- Demonstrate experience in financial services compliance, including a working knowledge of appropriate risk management techniques as well as a strong understanding of audit processes and internal controls
- Ability to analyze risk trends at a macro level, identifying signs of changing risk levels and/or symptoms of process control breakdowns
- Ability to quickly navigate through a complex organization
- Superior oral and written communication skills
- Comfortable making presentations to executives, groups of professionals, and external stakeholders with the ability to articulate complex problems and solutions through concise and clear messaging
- The ability to influence and effectively challenge
- Creative thinking who can map out creative solutions and lead their implementation
- Possess strong business acumen and judgment plus the ability to communicate key issues to all levels
- Self-motivated and self-directed with a ‘hands-on’ leadership style to lead change
- Strong interpersonal skills for building strong relationships with stakeholders and engaging teams
- Effective negotiation skills, a proactive and “no surprises” approach in communicating issues, and strength in sustaining independent views
What the job involves
- Reporting into the Enterprise Chief Compliance Officer, this role leads a variety of teams critical to supporting compliance infrastructure and compliance strategy across the enterprise. This includes overseeing Compliance Programs and Projects, Policy & Governance, Risk Assessments, Corporate Compliance, and Privacy Compliance
- Oversee a comprehensive compliance governance program for areas such as program and project management, policies, training, regulatory change management, issue management, risk assessments, and including the establishment of compliance related policies, standards, and procedures
- Organize and lead the compliance risk assessment, regulatory inventory and regulatory change management programs
- Partner closely with Enterprise Risk in the implementation and maintenance of an enterprise GRC program with regard to compliance content
- Oversee corporate compliance, serving as subject matter expert on financial services compliance related topics by maintaining industry insights and timely review of related industry alerts and environment to help determine applicability and risk to the organization
- Engage across the three lines of defense to establish effective and collaborative relationships and feedback loops to identify and address root causes of concern. Maintain effective communication with business leaders and process owners so that all personnel are informed regarding compliance requirements and work together to mitigate compliance risk exposure and participate in corrective action when required
- Serve as a people leader in supporting and developing a high performing team. Provide guidance and coaching in developing the team’s skills and knowledge of SoFi’s enterprise compliance management program
- Champion a corporate culture in which all personnel view regulatory compliance as aligned with the Company’s purpose and values and is regarded as a key objective in business decisions and process development/implementation
- Critically challenge the status quo, identifying existing practices that may be sub-current expectations particularly with regard to error tolerance, technology sufficiency and potential for Member harm
- Possess a working knowledge of Enterprise regulatory requirements and remain aware of the economic environment and business best practices that will affect the Company’s strategic plans
- Liaise with external parties to include partner banks, clients, examiners, internal and external auditors, and outside consulting firms regarding the Company’s compliance function
- Anticipate and resolve factors that impact SoFi Technologies strategies and its position in the marketplace by developing innovative solutions
Our take
SoFi started by offering ways for students to secure better financial terms on their loans, and now offers a huge range of personal finance products, including bank accounts, loans, mortgages, investment advice, and investment opportunities. Many customers find they have to go to multiple financial service providers to meet all their finance needs, but SoFi overcomes this issue by putting it all in one place.
Its goal, to cover all the financial bases, sets them apart from many of the traditional banks and even some of their digital competitors, such as Avant, which has chosen to focus on providing credit alternatives. Although it is operating in a competitive market with a lot of big players such as Monzo, Revolut, and Starling, the company has managed to raise huge amounts of funding to support its rapid expansion.
SoFi has focussed on global expansion, moving outside the US, and has made a series of acquisitions to support this - including a Hong Kong-based investment app called 8 Securities. After going public on the New York Stock Exchange via a SPAC merger in June 2021, the company has continued to evolve and release more mission-oriented services into its roster, and strengthened its lending capabilities through a $350 million post-IPO loan. To date, the company has sold over $15 billion in personal loan collateral and continues to strengthen its offering.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
Few candidates hear
back within 2 weeks
7% employee growth in 12 months
Company
Funding (last 2 of 9 rounds)
Jan 2021
$369.9m
LATE VC
May 2019
$500m
GROWTH EQUITY VC
Total funding: $2.7bn
Company benefits
- Comprehensive health, vision, dental, life insurance, and disability benefits
- Generous vacation and holidays
- Paid parental leave for eligible employees
- 401(k) and education on retirement planning
- Tuition reimbursement on approved programs, up to $5,250 per year
- 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
- Flexible time off
- Fertility and family planning options
- Free financial classes
Company values
- Put our member's interests first – if we take care of our members' interests, it will best serve our interests.
- Run after problems – we must build a culture of people who run after problems in order to ensure we execute with excellence and “things” do not fall through the cracks.
- Embrace diversity, everyone should feel welcome, included and able to contribute – diversity is a differentiator and our team should reflect society. We should continue to encourage and celebrate diversity.
- Get to the truth and make principle-based decisions – we can only make the best decisions if we have the right data, all of the perspectives, and if we align on the guiding principles.
- Make your footprint bigger than your foot – selfless acts are critical to elevate beyond the impact of our collective individual efforts.
- Do the right thing, if you're not sure, do the harder thing – our business is built on trust and integrity, which requires both adhering to the letter of the law and regulations and doing the right thing for the company and our members..
- Set ambitious goals, be gritty, be accountable - we must hold ourselves and others accountable for delivering our business objectives, for our culture, and for our member.
- Take care of other people and help them grow - our people are our greatest differentiator, if we take care of our people, they will take care of our members.
- Iterate, learn, innovate - we are all responsible for innovation and we must embrace data-driven decisions.
- Be SoFi missionaries - our products, our services, our brand, and our business must be durable over the long term to achieve our mission—be a missionary.
- Don’t forget to smile - our ambition is contagious: it makes us smile to see people inside and outside of SoFi succeed.
Company HQ
The East Cut, San Francisco, CA
Articles
Leadership
Anthony Noto
(CEO)Graduated from the U.S. Military Academy after being a telecommunications officer and captain in the U.S. Army. Has worked as Head of Gobal Telecommunications, Media and Technology at Goldman Sachs, been the COO of Twitter, and also the CFO of the National Football League.
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