SoFi
Second Line Loan Review Emerging Risk Lead
SoFi, Frisco, TX
Employee Applicant Privacy Notice
Who we are:
Shape a brighter financial future with us.
Together with our members, we're changing the way people think about and interact with personal finance.
We're a next-generation financial services company and national bank using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we're at the forefront. We're proud to come to work every day knowing that what we do has a direct impact on people's lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.
Job Summary:
As the Emerging Risk Lead, you will play a pivotal role in identifying, assessing, and mitigating emerging risks that could impact the organization. Positioned within the Second Line of Defense, your primary responsibility will be to develop and implement robust risk frameworks that ensure the organization's resilience in the face of rapidly evolving risk. You will collaborate closely with various stakeholders, including the First Line of Defense, to ensure that emerging risks are proactively managed and integrated into the broader risk management strategy. The role involves providing reports and summary information to inform management about emerging credit risk conditions and trends while assessing the strength of credit-related controls. The Emerging Risk Leader will also engage with senior leadership and lending personnel to identify significant credit risk areas and suggest lending policies and practices improvements.
This role is pivotal in looking around the corner at potential emerging risks that could impact the health of the bank's portfolios and lending. The successful candidate will need to have an awareness of key industry trends and emerging risks, and be able to translate those trends into investigative hypotheses that can then form the basis of loan review tests within the credit portfolios. Key attributes for success are the ability to leverage file reviews to identify pockets of risk.
What You'll Do:
The daily duties include but are not limited to directing file reviews targeted at reviewing areas of the portfolio that could represent an emerging risk. This will involve creating hypotheses that can then be used promptly to identify loans with actual and potential credit weaknesses so that timely action can be taken to strengthen credit quality and minimize losses. The role identifies relevant trends that affect the quality of the loan portfolio and highlights segments of those portfolios that are potential problem areas and assesses the adequacy of and adherence to internal credit policies and loan administration procedures and monitors compliance with applicable laws and regulations.
What you'll need:
Working Conditions:
Compensation and Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate's experience, skills, and location.
To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.
The Company hires the best qualified candidate for the job, without regard to protected characteristics.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
New York applicants: Notice of Employee Rights
SoFi is committed to embracing diversity. As part of this commitment, SoFi offers reasonable accommodations to candidates with physical or mental disabilities. If you need accommodations to participate in the job application or interview process, please let your recruiter know or email [redacted].
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Internal Employees
If you are a current employee, do not apply here - please navigate to our Internal Job Board in Greenhouse to apply to our open roles.
Who we are:
Shape a brighter financial future with us.
Together with our members, we're changing the way people think about and interact with personal finance.
We're a next-generation financial services company and national bank using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we're at the forefront. We're proud to come to work every day knowing that what we do has a direct impact on people's lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.
Job Summary:
As the Emerging Risk Lead, you will play a pivotal role in identifying, assessing, and mitigating emerging risks that could impact the organization. Positioned within the Second Line of Defense, your primary responsibility will be to develop and implement robust risk frameworks that ensure the organization's resilience in the face of rapidly evolving risk. You will collaborate closely with various stakeholders, including the First Line of Defense, to ensure that emerging risks are proactively managed and integrated into the broader risk management strategy. The role involves providing reports and summary information to inform management about emerging credit risk conditions and trends while assessing the strength of credit-related controls. The Emerging Risk Leader will also engage with senior leadership and lending personnel to identify significant credit risk areas and suggest lending policies and practices improvements.
This role is pivotal in looking around the corner at potential emerging risks that could impact the health of the bank's portfolios and lending. The successful candidate will need to have an awareness of key industry trends and emerging risks, and be able to translate those trends into investigative hypotheses that can then form the basis of loan review tests within the credit portfolios. Key attributes for success are the ability to leverage file reviews to identify pockets of risk.
What You'll Do:
The daily duties include but are not limited to directing file reviews targeted at reviewing areas of the portfolio that could represent an emerging risk. This will involve creating hypotheses that can then be used promptly to identify loans with actual and potential credit weaknesses so that timely action can be taken to strengthen credit quality and minimize losses. The role identifies relevant trends that affect the quality of the loan portfolio and highlights segments of those portfolios that are potential problem areas and assesses the adequacy of and adherence to internal credit policies and loan administration procedures and monitors compliance with applicable laws and regulations.
- Oversee the execution of emerging risk testing to assess the quality of lending practices against established policies and practices.
- Prepare and deliver reports and summary information to management and the appropriate committees
- Monitor global trends, regulatory developments, and industry changes to identify emerging risks that could impact the organization.
- Conduct comprehensive risk assessments to evaluate the potential impact of emerging risks on the organization's operations, financials, and reputation
- Collaborate with senior leadership both in the business and IRM Credit Risk to identify and address significant emerging credit risk areas.
- Recommend improvements to lending policies and practices based on credit challenges with policy owners and document the findings.
- Develop and establish key risk indicators (KRIs) and other metrics to monitor the evolving risk landscape
- Monitor external and internal environments for new and emerging risks
- Contribute to the development and enhancement of the organization's risk management policies and frameworks through insights generated by file reviews.
- Stay informed of regulatory changes and industry developments related to risk management
- Stay abreast of new risk management techniques, tools, and technologies that can enhance the organization's ability to manage emerging risks
- Lead initiatives to continuously improve the organization's risk management capabilities, ensuring readiness for future challenges.
What you'll need:
- Bachelor's degree in Finance, Accounting, Business, or a related field. Advanced degree or relevant certifications (e.g., CFA, CRCM) is a plus.
- 10+ years in credit risk management, credit analysis, or a related field within a financial institution, with a strong background in consumer lending and risk assessment.
- Working Knowledge of Interagency Guidance SR 20-13
- Knowledge of OCC regulations and guidelines related to credit risk management.
- Excellent analytical, problem-solving, and communication skills.
- Excellent communication and interpersonal skills, with the ability to influence and engage stakeholders at all levels
- Ability to work collaboratively and influence stakeholders
- Attention to detail and a commitment to maintaining high-quality standards.
- Proficiency in relevant software and tools for credit analysis and reporting.
- Strong analytical and problem-solving skills, with the ability to interpret complex data and trends.
Working Conditions:
- This position may require occasional domestic and international travel to meet with team members, regulators, and auditors.
- Normal office hours with occasional overtime during peak periods or special projects.
Compensation and Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate's experience, skills, and location.
To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.
The Company hires the best qualified candidate for the job, without regard to protected characteristics.
Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.
New York applicants: Notice of Employee Rights
SoFi is committed to embracing diversity. As part of this commitment, SoFi offers reasonable accommodations to candidates with physical or mental disabilities. If you need accommodations to participate in the job application or interview process, please let your recruiter know or email [redacted].
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Internal Employees
If you are a current employee, do not apply here - please navigate to our Internal Job Board in Greenhouse to apply to our open roles.