Senior Assistant General Counsel, SoFi
$172.8-297k
+ 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
$172.8-297k
+ 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
- SoFi is seeking an attorney with a strong background in financial regulation, with a focus on servicing and operations for a full suite of Consumer Financial Services Products, as Associate General Counsel
- The ideal candidate has a strong financial regulatory background, including prior experience with a law firm and/or as in-house counsel for a major financial institution
- You should be an intellectually curious self-starter with strong written and oral communication skills
- JD and membership in good standing in the applicable bar
- Minimum of 5 years financial services regulatory experience
- Experience with consumer financial regulations, including Regulation V (Fair Credit Reporting Act), Regulation B (Equal Credit Reporting Act), Telephone -Consumer Protection Act, Military Lending Act, Servicemembers Civil Relief Act, Fair Debt Collection Practices Ac, Unfair, Deceptive or Abusive Acts or Practices, Regulation P (Privacy of Consumer Financial Information), Gramm-Leach-Bliley Act, and Regulation E (Electronic Funds Transfers Act)
- Familiarity with, or willingness to learn, U.S. bank regulatory law, including the Bank Holding Company Act, the Federal Reserve Act and the National Bank Act
What the job involves
- The role will provide legal counsel to SoFi’s Servicing and Operations platform in addition to providing counsel on other general legal matters for other parts of the SoFi enterprise, as required
- Provide Legal Advice and Support: Offer expert legal counsel to business units on matters related to loan servicing, deposit operations, payment processing, account management, collections, foreclosure, bankruptcy, and other operational aspects of the financial institution
- Regulatory Compliance: Advise on and ensure compliance with federal and state laws and regulations governing financial services operations, including but not limited to the Truth in Lending Act (TILA), Truth in Savings Act (TISA), Electronic Fund Transfer Act (EFTA), Fair Credit Reporting Act (FCRA), Fair Debt Collection Practices Act (FDCPA), Unfair, Deceptive, or Abusive Acts or Practices (UDAAP), and relevant state-specific regulations
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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