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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 role
SoFi’s Model Risk Management (MRM) team has responsibility for assuring that all quantitative models used at SoFi are conceptually sound and are appropriately used and monitored. A major activity in support of this objective is independent validations of all models, and ultimately approving models for use or requiring rework. Other activities include conducting reviews of periodic model performance monitoring reports, approving model changes, classifying models into risk tiers, and driving adoption of modeling best practices.
The Staff Analyst, Model Risk Management will perform highly visible and important work and will touch virtually all functional areas within SoFi.
What you’ll do:
The Staff Analyst, Model Risk Management will spend a majority of their time performing critical reviews of (or “validating”) quantitative models planned for use at SoFi. The analyst will read model documentation and engage in dialogue with model developers to understand how the model was built and how it functions. The analyst will assess the suitability of data used to build the model, the conceptual soundness of the modeling approach, and the appropriateness of the testing protocols and diagnostic metrics used on the model. The analyst will review results of diagnostic testing and analysis performed by the model owner and will conduct confirmatory or additional work as needed to have confidence in the model. The analyst will summarize their work and findings in a detailed written report, which will include formal recommendations and any required remediation work.
The models to be validated will cover a range of statistical approaches from basic regression to cutting-edge machine learning algorithms. The models will also span multiple areas of the business, from credit risk scorecards to models used for optimizing back-office operational processes.
What you’ll need:
● Strong analytical skills with formal training in statistical analysis
● Background in machine learning and artificial intelligence models; knowledge of both theory and application to different use cases
● Strong writing skills; ability to communicate technical concepts in understandable terms
● Proficiency in Python or R
● Self-starter who is comfortable working both alone and closely with teammates and business partners
● 6+ years of related experience with a Bachelor’s degree in a quantitative discipline; or 3 years and a Master’s degree; or a PhD without experience; or equivalent experience
Nice to have:
● Prior experience with the model risk management function in a banking environment
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 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 RightsSoFi 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 [email protected].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.
What the Team is Saying
What We Do
For over a decade, SoFi has helped transform the Fintech industry by creating financial products and services that help people borrow, save, spend, invest, and protect their money better, so they can achieve financial independence and realize their ambitions. Whether it’s owning a home, saving for retirement, paying off their student loans, or helping our members invest - SoFi is there every step of the way. Want to learn more about how it works? Check it out here: https://www.sofi.com/how-it-works/
Our core values are at the center of how we help our millions of members get their money right. They are our guiding principles for how we think about serving our members, building our company, and most importantly, how we work together. At SoFi, it’s not just what we do - but how we do it.
SoFi is also proud to be the naming rights partner of SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles Rams.
For more information, visit SoFi.com
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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