Risk Assessments/Issue Management Director, SoFi
$165.6-253k
Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location. This role is also eligible for a bonus and equity
More information about location
Mobile & online personal finance services
Job no longer available
Mobile & online personal finance services
1001+ employees
Job no longer available
$165.6-253k
Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location. This role is also eligible for a bonus and equity
More information about location
1001+ employees
Company mission
To help people reach financial independence to realize their ambitions.
Role
Who you are
- Bachelor’s degree required
- Minimum of 8 years of relevant experience in Compliance, Legal, Audit, Regulatory Compliance Management or other related experience
- Experience designing, building, and implementing risk assessment methodologies
- Experience executing risk assessments
- Professional certification such as Certified Regulatory Compliance Manager (CRCM) is preferred
- Strong interpersonal skills to collaborate with and influence various key stakeholders/partners across 1st, 2nd and 3rd lines
- Excellent communication skills, both oral and written, and the ability to communicate clearly with constituents at all levels of the organization, including playing the role of an effective challenger
- Strong organizational and critical thinking skills capable of designing and implementing programs
- Ability to analyze processes and recommend ways to improve quality and efficiency
- Detailed oriented and able to perform data analysis
- Experience with developing management reports
- Experience with managing projects
- Independently determines methods to solve most problems and takes action to execute solutions with limited assistance
- Exercises judgment in situations with limited risk (without management involvement)
- Escalates and suggests solutions for complex issues to avoid unintended/negative impact with team and cross-functionally
What the job involves
- The Senior Compliance Risk Assessment Officer will provide oversight and governance of the end-to-end compliance risk assessment process
- This includes defining standards for the compliance risk assessments, overseeing execution of the process for adherence to standards, and analyzing and reporting risk assessment results to management and key stakeholders
- Evolve the overall compliance risk assessment process, including redesigning the risk assessment methodology
- Develop tools, templates and methods (e.g., qualitative and/or quantitative) for performing compliance risk assessments
- Train and provide ongoing guidance/support (as needed) on the application and execution of the compliance risk assessment process
- Coordinate and oversee execution of annual and periodic compliance risk assessments
- Analyze and challenge risk assessment results, and ensure consistent application of methodology
- Prepare reports to summarize risk assessment results, and present results/updates to executive management and other stakeholders including risk and compliance committees
- Coordinate with stakeholders such as Independent Compliance Testing, Enterprise Risk Management, Internal Audit and other teams as necessary for key data/input needed to execute risk assessments, as well as sharing risk assessment results with such stakeholders accordingly to inform their processes
- Maintain and update the inventory of applicable rules and regulations, and products
- Coordinate and facilitate the execution of Compliance’s quarterly Risk and Control Self-Assessments (RCSAs)
- Perform quality assurance (QA) reviews of Compliance’s risk and control inventory, and control self-assessments for conformance with enterprise policies and standards
- Summarize and report quarterly RCSA results to executive management
- Monitor and track findings issued to Compliance (e.g., from Internal Audit, regulatory, self-identified/RCSAs, etc.)
- Monitor and track findings identified and issued by Compliance to enable timely closure by the applicable business units
- Support Compliance (from a project management perspective) on timely closure of open issues (both owned and identified by Compliance), including ensuring issue management processes are followed
- Prepare reports on the status of open issues and present status to executive management and other stakeholders including risk and compliance committees
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 it 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
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 HQ
The East Cut, San Francisco, CA
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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