Compliance Risk Assessment Manager, SoFi
$105.6-198k
+ Bonus
Mobile & online personal finance services
Be an early applicant
Mobile & online personal finance services
1001+ employees
Be an early applicant
$105.6-198k
+ Bonus
1001+ employees
Company mission
To help people reach financial independence to realize their ambitions.
Role
Who you are
- Bachelor's degree and 8+ years of related experience OR Master's degree and 6+ years of related experience OR PhD and 3+ years of related experience OR equivalent work experience
- Ability to build effective relationships with a proven record of building trust and credibility through strong interpersonal skills, communications, and actions
- Ability to negotiate effectively using diplomacy and tact to resolve difficult issues while maintaining a high degree of professionalism
- Ability to write accurate reports and documents, and sort and interpret data
- Holds self to a high level of quality
- Must be self-motivated and enthusiastic to obtain personal and company goals
- Dedication to integrity, producing high quality results, and meeting deadlines
- Ownership of core responsibilities, providing sound guidance to others
- Outstanding communication skills, both oral and written, and the ability to communicate clearly with constituents, including playing the role of an effective challenger
- Strong organizational skills
- Demonstrated ability to research and interpret data from various sources
- Works to reduce complexity (in processes, products, etc.) Makes things simpler
- Leverages extensive knowledge and skills and resolves complex issues in creative and effective ways
What the job involves
- The Mgr, Compliance Risk Assessment reports to the Director of Compliance Risk Assessment and is responsible for supporting the day-to-day execution of the Compliance Risk Assessment (CRA) Program
- This includes managing templates and data inputs, overseeing the execution of the CRA, and drafting policies, procedures, results and management reporting of the CRA. This role will also support the Compliance RCSA process and other areas as needed
- Develop and lead the execution of project plans to ensure timely completion of the CRA
- Perform quality assurance reviews on compliance controls to ensure each control meets the requirements of the minimum control standards
- Manage the process to ensure connectivity of the risk assessment program to independent compliance testing and the enterprise RCSA program
- Lead training efforts for the first line of defense and Compliance Advisors with respect to identifying and documenting controls that can be mapped to compliance risk
- Lead the execution of the CRA for the assigned business coverage area and escalate any issues in a timely manner
- Perform quality assurance reviews of the CRA for the assigned business coverage area, including providing credible challenge to risk ratings and rationales for assessment units
- Lead meetings with relevant stakeholders in the First and Second Lines of Defense to understand products, services, and clients and how it impacts related risks and controls
- Ensure key risks and business lines are mapped to relevant rules and regulations
- Work with various stakeholders across the First and Second Lines of Defense to create management action plans to address control gaps that were identified during the CRA process
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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