Personal Loan Compliance Specialist

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Who we are:

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Together with our members, we’re changing the way people think about and interact with personal finance.

We’re a next-generation fintech company 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.

The role:

The Personal Loans Compliance Specialist will provide second-line independent oversight and guidance regarding SoFi’s personal lending products, services, and processes. Working  through our compliance framework, this role is responsible for ensuring  that home loans are executed in accordance with regulatory requirements. In partnership with the Compliance Officer of Unsecured Lending, the Specialist will continuously provide insight into the overall risk profile of the business and provide suggestions for improvements. 

What you'll do:

• Ensuring that policies and processes are compliant, appropriate, competitive, and consistent with Management’s risk appetite and strategy.

• Assisting the Unsecured Lending Compliance Officer with risk assessments, third party oversight, policy and procedure reviews (aligned with corporate standards) and documentation of controls.

• Work closely with the Third Party Risk Management team on key partner Compliance oversight, including external collection agencies

• Monitoring business activities to identify regulatory risks to which the organization is exposed and work with the business and other support functions to implement measures to prevent, eliminate, or mitigate those risks.

• Leading or participating in projects designed to address regulatory compliance requirements

• Provides specialist knowledge to business teams on Compliance matters to ensure a culture of compliance and partnership.

• Assist in the preparation of examination responses conducted by various regulatory agencies.

• Responsible for the review of complaints to identify regulatory exceptions and process improvements.

• Review of complaints to determine regulatory impact and customer remediation.

• Guide the personal loan business as they seek to launch new initiatives.

• Ensures that all tasks are carried out with a high degree of professionalism and ethics.

• Other duties as assigned to support the consumer compliance program
   

What you need:

• BA/BS Degree or equivalent combination of education and experience required.

• Minimum of five (5) to ten (10) years experience with Fair Servicing and working with compliance requirements of FDCPA, Forbearances and overall collection and servicing activities

• Minimum of five  (5) to ten (10) years’ experience working in compliance, audit or other governance functions within a deep knowledge of consumer lending regulations, specifically Regulation Z, FCRA, SCRA, MLA, and ECOA. 

• Ideal candidates for this position will be experienced reviewing disclosure/compliance documents.  

• Process management and improvement experience preferred.

• Ability to interact with upper levels of management and multitask in a fast-paced environment

• Excellent analytical, technical and problem solving skills, with strong attention to detail.

• An open-mind and ability to partner with the business to implement business initiatives while remaining compliant and within the SoFi risk appetite.

• High ethical standards; ability to maintain confidentiality.

• Exceptional verbal and written communication, collaboration, and time management skills.

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