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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 team
SoFi’s Credit team manages credit risk activities for our lending products (Student Loan Refinance, Private Student Loan, Personal Loan, Credit Card, and Mortgage) - including credit strategies/policies for new account origination and portfolio management, collections/recovery strategies and operations, and risk and operational data science and analytics. The team designs data-driven strategies to ensure the growth in lending is consistent with the company’s risk appetite and helps create the products and experiences that put our members’ interests first.
The Senior Credit Manager will work in the Credit team and have responsibilities to analyze and evaluate data to develop and propose value-added credit risk strategies and models for SoFi’s lending products, including Personal Loan, Student Loan Refinance, Private Student Loan, and Credit Card. The initial focus of the role will be on Personal Loan but the candidate may get opportunities to work on other lending products in the future.
The candidate will be responsible for independently developing and implementing Personal Loan underwriting strategies that meet our risk appetite, monitoring and analyzing the risk trends within the portfolio to provide insights and recommendations for strategy enhancement opportunities. She/he will be part of the Credit team with 1LOD responsibilities.
The Senior Credit Manager will collaborate with cross-functional teams such as Business Units, Operations, Marketing, Finance, Capital Markets, Product, Engineering, Legal and Compliance. Use business acumen, credit experience and quantitative and analytical skills to drive revenue, control risk, and provide value to the company and consumers.
The ideal candidate will possess a data-driven analytics background and the strategic acumen to direct a function that draws strategic insights from data using database and statistical analysis tools to inform decisions and support SoFi’s overarching strategic goals relative to loss prevention and profit optimization. They bring new ways of thinking, data sources, technologies, and capabilities to SoFi.
What you’ll do:
- Innovate… Bring your brightest ideas to build algorithmic risk strategies. This means you will architect credit underwriting, pre-screen targeting, and risk tier assignment.
- Data Driven… Your deep analysis will power the future of lending with an optimal real-time data ecosystem – including multi-product internal, bureau, third-party, and alternative data sources and uses.
- Iterate, learn, innovate… We are all responsible for innovation and must embrace a test-and-learn mentality and data-driven decision making.
- Collaborate… Work collaboratively with business partners such as Business Units, Operations, Marketing, Finance, Legal and Compliance to deliver successful business results. Partner closely with implementation teams to accurately drive new strategies to production.
- Control the Risk and Drive Performance Outcomes … Understand credit risk and develop approaches to mitigate loss and responsibly grow revenue. Monitor the performance of strategies and portfolios. Document and communicate results and escalate issues as necessary. Identify gaps/opportunities and drive actions.
- Challenge the Status Quo … Challenge others, continuously raise the bar, build better processes and attack hard problems to help us build the best products in the industry.
- Grow, Grow, Grow!… Be inspired by dynamic leaders and our rapidly growing business. We want YOU to be an inspired leader of tomorrow, so we are recruiting the best, brightest, and passionately quantitative team members.
What you’ll need:
- 7+ years of related experience
- Business acumen and work experience in the consumer lending business (loans or credit cards)
- Direct experience in the credit strategy analytical life cycle, including strategy and decision tree development, P&L, presentation, implementation validation, and post-implementation monitoring
- Proven analytical skills in conducting sophisticated analysis using customer performance data, bureau attributes, and other 3rd party variables to solve business problems
- Proficient data exploration and credit modeling skills in Excel, SQL and Python
- A demonstrated ability to synthesize and communicate analysis to business partners and senior management
- Results-driven, eager to learn, and able to work collaboratively in a fluid environment
- Knowledge/skills in analytical and modeling techniques such as decision trees, regression, logistic regression, test design
- Preferred: 7+ years of personal loan credit risk experience
- Preferred: Experience in developing credit strategies using innovative data sources such as cash flow or alternative data
- Preferred: Advanced degree (Master’s or PhD) with a quantitative major such as Statistics, Mathematics, Engineering, or Computer Science
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What We Do
SoFi wasn’t built to be a bank. Or a technology company. We were built for one mission: help people achieve financial independence so they can realize their ambitions.
Redefining an entire industry isn’t easy work—and it’s not for the faint of heart. It takes a certain kind of team. People with diverse perspectives and expertise, united by a common sense of purpose. People willing to challenge assumptions but always do the right thing. People proving that innovation and responsibility don’t have to compete, but can come together to create something truly unconventional in the world.
For the last eight years, we’ve been charting this new path forward. We call it The SoFi Way.
At SoFi, we don’t just talk about culture: we live it. The SoFi Way is how we show up every day, how we make decisions, and how we build for our members, clients, and each other.
Why Work 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 members reach their goals. The industry is going through an unprecedented transformation, and we’re at the forefront.
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Employees engage in a combination of remote and on-site work.
For the majority of our workforce who work on a hybrid schedule, the in-office requirement is a handful of days per month!
