Compliance and Risk Specialist, Third Party Regulatory Oversight, Issue Management, Risk and Controls

The role:

The primary function of this position is to support the Compliance department in the development and implementation of an enhanced third party regulatory oversight program for SoFi. This includes assessing new third parties for regulatory compliance risk, advising on required controls to ensure consumer compliance with all federal and state laws and regulations, creating/updating SoFi's compliance policies, procedures and processes to address the revised program, assisting management of Compliance related Issues and Risk/Control library, and assisting the Product Compliance Officers in annual compliance risk assessments. This position is ideal for a person who will thrive in a fast-paced, entrepreneurial-like environment who has experience in successfully implementing this process at another bank.

Knowledge of bank federal regulations and OCC/CFPB expectations for a bank third party regulatory oversight program is a must have.  

Being motivated, and passionate about consumer compliance, consumer compliance protection and having a drive to accomplish goals and the business at hand is pivotal. This individual will have the opportunity to contribute to the enhancement of SoFi’s compliance management program, enabling the business to continue with rapid growth. 

What you’ll do: 

• Develop and maintain a risk-based framework and oversight that includes methodology, roles, responsibilities, documentation, governance and reporting to provide transparent, effective, and controlled risk related to the introduction of third parties throughout the enterprise.  This role will be responsible for the development of enhancements to new or existing third-party oversight activities, policies, and procedures.  

• Must be an effective change agent and collaborator, possess the skills and willingness to perform duties that are a combination of tactical, transactional, and strategic in nature.

• Review the existing third party oversight activities and provide feedback on areas of enhancement.

• Redesign and implement any necessary third party compliance oversight enhancements across the enterprise, ensuring clear communication and training of the process is achieved for a successful rollout. 

• Participate in compliance risk assessment, analysis, monitoring, and oversight of SoFi's third party providers.

• Serve as a resource to team members and management providing a range of support and analysis on regulatory compliance requirements, issues, and/or best practices, including the provision of guidance in the design, development and/or enhancement of processes and controls to manage third party compliance risks.

• Ensure regulatory change management is occurring through SoFi’s third party providers and are included in SoFi’s regulatory change management repository per the regulatory change management policy.

• Develop and create trending analytics, heatmaps, key performance indicators, key risk indicators, and other metrics to measure and assess SoFi’s compliance risks of third party providers.

• Streamline Compliance role in the Issue Management program and the RCSA program.

• Other duties as assigned 

What you’ll need:

• Bachelor's Degree in Business or related fields is required.

• Minimum 5-7  years performing relevant regulatory consumer compliance functions in the banking industry, and in-depth knowledge of deposit and lending products and applicable laws and regulations, included but not limited to Reg. DD, Reg. E, Reg. CC, ECOA, RESPA, TILA, & FCRA and or a CRCM certification.

• Experience implementing a third party oversight program for a Compliance department at a large federal bank.

• Ability to analyze complex laws and regulations and relate those laws to operational procedures, company policies, and industry trends.

• Excellent written and oral communication skills.

• Excellent analytical and consultative skills: detail-oriented; ability to grasp new concepts quickly, synthesize complex information effectively, and communicate complicated issues clearly and simply to present clear and actionable choices and recommendations; creative problem-solving skills.

• Demonstrates sound judgment; comfortable dealing with ambiguity; weighs options and alternatives in a timely and effective manner.

• Results-driven, self-starter possessing exemplary communication skills.

• Collaborative team-player who can find creative and practical solutions in a dynamic work environment.

• Ability to work under pressure, exhibiting timely decision making, and with a sense of humor and balance. Ability to handle ambiguity, balance multiple matters at once, and quickly and seamlessly shift from one situation or task to another

• Perform quality work within determined timeframes

• Must be organized and detail-oriented 

• Must be proficient in Microsoft Office and/or Google Sheets specifically excel/sheets and powerpoint/slides

• Interact professionally with other employees, customers, vendors and shareholders

• Work independently while understanding the necessity for communicating and coordinating work efforts with other employees, departments, divisions, etc.

• Work on ad-hoc tasks, assignments and projects as needed