Senior Regulatory Reporting Analyst, SoFi
$86.4-162k
This role is also eligible for a bonus
Mobile & online personal finance services
Be an early applicant
Mobile & online personal finance services
1001+ employees
Be an early applicant
$86.4-162k
This role is also eligible for a bonus
1001+ employees
Company mission
To help people reach financial independence to realize their ambitions.
Role
Who you are
- 4-5 years of relevant experience in a professional, fast-moving environment
- A strong background in banking or financial services institutions
- CPA designation preferred
- Bachelor’s degree or equivalent experience in a related field
- Strong verbal and written communication skills
- Must demonstrate attention to detail, analytical abilities, and consistent follow-through, including project management skills with the ability to proactively resolve problems while consistently meeting deadlines
- Experience working with financial and/or regulatory reporting preferred
- Ability to collaborate with cross-functional teams, including product engineering, legal, enterprise risk management, compliance, treasury, and finance
- Strong organizational and analytical skills
- Background in accounting and the application of U.S. Generally Accepted Accounting Principles (“GAAP”) including education or work experience preferred
Desirable
- Experience with ERP and regulatory systems
- Public company experience
- Strong knowledge of technical accounting and public company best practices
- Bank start-up experience
What the job involves
- SoFi is looking for a Senior Accountant with financial services experience to support SoFi Bank’s regulatory reporting functions. The ideal candidate is eager to learn, takes an innovative approach to solving problems, and is committed to improving our end-to-end accounting processes. In this role, you will play a key part in ensuring reporting accuracy and driving efficiency across regulatory reporting workflows
- Assist with the preparation, review, and submission of regulatory filings for SoFi Bank and the bank holding company, including the Call Report, FRY-9C, FRY-11, FRY-9LP, and related documents
- Participate in the research and documentation of new and revised regulatory reporting requirements
- Prepare responses to inquiries from federal regulators
- Responsible for maintenance of regulatory reports within Axiom ControllerView
- Review detailed account reconciliations, journal entries and supporting documentation
- Review intercompany transactions in accordance with GAAP and Regulation W
- Identify areas of improvement within the department for efficiency or risk control enhancements
- Support employees in the preparation of easy of complete and easy to follow workpapers explaining accounting topics, procedures, and conclusions
- Assist with quarterly reviews, regulatory exams, and year-end annual audit
- Provide level appropriate coaching to accounting staff and interns, as needed
- Support any additional ad-hoc projects related to SoFi Bank
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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