Credit Risk - Originations Director

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 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 Credit Risk - Originations Director will play a crucial role in enhancing and overseeing our credit risk management framework. This leadership position requires a strategic thinker with extensive experience in credit risk, a solid understanding of FinTech operations, and the ability to lead a high-performing team. The successful candidate will collaborate closely with cross-functional teams to ensure the continued success of our credit risk strategy.

SoFi’s Credit team manages credit risk activities for our Loans and Credit Card products - including credit strategies / policies for new account origination and portfolio management, transaction authorization, collections / recovery strategies, and risk and operational data science and analytics. The team designs data driven strategies and policies to ensure the growth in credit exposure is consistent with the company’s risk appetite, and helps create products and experiences that put our members’ interests first. 

The Collections and Portfolio Management Director will be a critical part of the Credit Risk leadership team and will have responsibilities to analyze and evaluate data to develop and propose value added risk strategies, focusing across the credit lifecycle. The role will have tremendous opportunities to shape and contribute to the learnings, innovations and growth. She/he will work closely with the cross-functional partners such as Business Unit, Operations, Product and Engineering, Capital Markets and Risk, and will use business knowledge, sound judgment and analytical skills to help drive revenue, control risk, and enhance member experience.

Provide an independent assessment of the credit quality and the management of credit risk. In addition, they execute onsite and offsite reviews and testing that requires subject matter expertise of the business units and credit functions under review. The incumbent ensures potential weaknesses at the counter party and/or portfolio level have been reported and an appropriate remediation plan is agreed to with the relevant stakeholders, and that risks and credit issues are properly reflected in both the local and global risk frameworks as necessary. They act as a mentor, and provides coaching and assistance to less experienced team members as part of reviews and activities. The Associate Director assists the Executive/Senior Director with the development of the Annual Plan and with changes in Policy and Procedure. They conduct Quality Assessment Reviews.

What you’ll do: 

• Credit Risk Strategy and Framework:
• Develop and refine the credit risk management strategy in alignment with business objectives and regulatory requirements.
• Implement and maintain a robust credit risk framework to identify, assess, and manage credit risk across the organization.
• Policy and Procedure Development:
• Lead the development and enhancement of credit risk policies and procedures.
• Ensure compliance with industry best practices and regulatory guidelines.
• Team Leadership:
• Build, lead, and mentor a high-performing credit risk team.
• Foster a culture of collaboration, innovation, and continuous improvement within the team.
• Stakeholder Engagement:
• Collaborate with first-line business units to understand their credit risk exposure and provide guidance on risk mitigation strategies.
• Interface with regulators, auditors, and other external stakeholders to communicate the effectiveness of the credit risk management program.
• Monitoring and Reporting:
• Implement a robust credit risk monitoring system to track and report on key risk indicators.
• Provide regular updates and reports to senior management on the credit risk profile of the organization.
• Risk Assessment and Mitigation:
• Conduct thorough credit risk assessments, identifying potential risks and proposing effective mitigation strategies.
• Work closely with other risk management function