CREDIT RISK REVIEW MANAGER

Company: Social Finance Ltd
Location: Frisco
Posted on: November 8, 2024

Job Description:

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. The role: We are seeking an experienced and dynamic Credit Risk Review Manager to lead our loan review team within the second line, Independent Risk Management. In this pivotal position, you will not only ensure that our loan review processes meet the highest standards of compliance and efficiency but also set the benchmark for best practices in the industry. Your leadership skills and in-depth knowledge of regulatory standards will be essential in contributing to the long-term sustainability of SoFi's Credit Risk Review function. What you'll do:

• Drive the objectives and mandates of the Credit Risk Review Policy to uphold the regulatory and compliance requirements of the bank, ensuring alignment with strategic goals.
• Develop an annual credit risk review testing plan and staffing adequacy for approval by the Head of Credit Risk Review, demonstrating foresight in identifying potential risk areas.
• Lead the execution of the annual testing plan while maintaining the agility to adapt to evolving circumstances and emerging risks.
• Partner and collaborate with senior leadership to schedule and conduct comprehensive loan review tests, ensuring that testing programs align with organizational priorities.
• Lead, manage, train, and mentor a team of loan reviewers, fostering a culture of continuous improvement and professional growth.
• Oversee loan review tests and assess the effectiveness of underwriting and credit risk management practices, providing actionable insights to enhance performance.
• Supervise the preparation of test-related work papers, ensuring they meet rigorous quality standards and facilitate accurate reporting.
• Assist in compiling data for audits and developing examination reports that reflect a thorough understanding of compliance requirements.
• Actively participate in the continuous enhancement of examination procedures and policies, leveraging industry best practices.
• Stay informed about regulatory changes and industry standards that impact loan review practices, applying this knowledge to improve processes and compliance.
• Prepare comprehensive reports that document findings, recommendations, and outcomes of the loan review program for review by senior management.
• Engage in ongoing training programs to deepen your understanding of risk management and stay ahead of industry trends.
• Partner with key risk stakeholders to contribute to quarterly credit risk assessments to identify portfolio trends and emerging risks, providing strategic insights to inform decision-making.
  What you'll need:
  • Bachelor's degree in business, finance, or a related field
  • 5-7 years experience in banking, finance, or related fields, with a strong focus on loan review, credit risk management, or internal audit
  • In-depth knowledge of loan review policies, processes, risk assessment techniques, and regulatory requirements in the banking industry
  • Experience with adhering to and implementing policy requirements and recommending enhancements to policies and procedures to improve the effectiveness and efficiency of the credit process
  • Proven track record of analyzing complex retail and commercial loan portfolios and identifying risk exposures and compliance issues
  • Experience with credit analysis, underwriting, and loan portfolio management
  • Knowledge of credit products with a clear understanding of their risk characteristics
  • Familiarity with retail and commercial loan review processes
  • Strong analytical and data analysis skills
  • Excellent communication and interpersonal skills, both written and verbal, with the ability to interact effectively with senior management
  • Experience in managing a dynamic team with a track record of success
  • Ability to prioritize tasks and manage time effectively in a fast-paced environment
    Nice to have:
    • Master's degree or MBA preferred, but not required
    • Familiarity with loan processing software and risk assessment tools
    • Formal credit training or credit risk management certifications (American Banker's Association Credit Risk Certification, Risk Management Association's Credit Risk Certification, etc.)
    • Extensive experience with personal loans, credit cards, student loans, home loans, and commercial loan products including underwriting and portfolio management
    • Tableau or data analytics/visualization tools experience
      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 comprehensiveand competitivebenefits, visit ourBenefits at SoFipage!
      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 accommodations@sofi.com.
      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.

Keywords: Social Finance Ltd, Wylie , CREDIT RISK REVIEW MANAGER, Accounting, Auditing , Frisco, Texas