Credit Card Risk Lead, SoFi
$128-240k
This role is also eligible for a bonus and long term incentives
Mobile & online personal finance services
Open for applications
Mobile & online personal finance services
1001+ employees
Open for applications
$128-240k
This role is also eligible for a bonus and long term incentives
1001+ employees
Company mission
To help people reach financial independence to realize their ambitions.
Role
Who you are
- The ideal candidate will possess a data-driven analytics background and the strategic acumen to direct a function that draws strategic insights from data using database and statistical analysis tools to inform decisions and support SoFi’s overarching strategic goals relative to loss prevention and profit optimization
- They bring new ways of thinking, data sources, technologies, and capabilities to SoFi
- 4+ years of related experience
- Business acumen and work experience in the consumer lending business (loans or credit cards)
- Direct experience in the credit strategy analytical life cyle, including strategy and decision tree development, presentation, implementation validation, and post-implementation monitoring
- Proven analytical skills in conducting sophisticated analysis using customer performance data, bureau attributes, and other 3rd party variables to solve business problems
- Proficient skills in Excel, SQL and Python
- A demonstrated ability to synthesize and communicate analysis to business partners and senior management
- High motivation to drive results, eager to learn, and able to work collaboratively in a fluid environment
- Knowledge/skills in analytical and modeling techniques such as Decision Trees, regression, logistic regression, A/B Testing, and Tableau
- Preferred: 4+ years of consumer lending credit strategy work experience
- Preferred: Experience in analyzing and testing credit strategies or models to meet the fair lending requirements
- Preferred: Advanced degree (Master’s or PhD) with a quantitative major such as Statistics, Mathematics, Engineering, or Computer Science
What the job involves
- SoFi’s Credit team manages credit risk activities for our lending products (Student Loan Refinance, Private Student Loan, Personal Loan, Credit Card, and Mortgage) - including credit strategies/policies for new account origination and portfolio management, collections/recovery strategies and operations, and risk and operational data science and analytics
- The team designs data-driven strategies to ensure the growth in lending is consistent with the company’s risk appetite and helps create the products and experiences that put our members’ interests first
- The Credit Strategy Lead will work in the Credit team and have responsibilities to analyze and evaluate data to develop and propose value-added credit risk strategies and models for SoFi’s lending products, including Personal Loan, Student Loan Refinance, Private Student Loan, and Credit Card
- The initial focus of the role will be on Credit Card Customer Management but the candidate may get opportunities to work on other lending products in the future
- The Credit Strategy Lead will collaborate with cross-functional teams such as Business Units, Capital Markets, Product and Engineering, and use business knowledge and quantitative and analytical skills to drive revenue, control risk, and provide value to the company and consumers
- Innovate… Bring your brightest ideas to building risk strategies. This means you will architect the pre-screen and underwriting 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
- Iterate, learn, innovate… We are all responsible for innovation and must embrace data-driven decisions
- Control the Risk and Drive Performance Outcomes … Understand credit risk and develop approaches to mitigate loss and responsibly grow revenue. Monitor the 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
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
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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