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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 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 Manager of Risk Management, Credit Card Acquisition will lead the credit risk strategies for SoFi’s Credit Card products and collaborate with business partners to drive revenue, control risk, and provide value to the company and customers. The candidate will be part of the Credit strategy team with 1LOD responsibilities and will lead/mentor analysts to drive business results. The incoming leader will play a critical role in scaling up Credit Card acquisition into newer population segments such as Prime, Near-prime and New-to-Credit. This role reports to the Senior Director of Credit Card Risk Management.
The incoming leader will be responsible for leading development and implementation of Credit Card new accounts acquisition underwriting strategies that meet our risk appetite, and conducting monitoring analysis to provide insights and recommendations for strategy enhancement opportunities. The candidate will collaborate with cross-functional teams, use business knowledge and quantitative and analytical skills to drive revenue, control risk, and provide value to the company and consumers.
The ideal candidate will possess extensive experience in developing analytically-driven underwriting strategies for credit card or unsecured loans / consumer lending and a proven track record of delivering strong business results in a matrix environment through ownership, innovation, collaboration and influence. The candidate will be adept at credit strategy formulation, risk management best practices, team management and stakeholder communication. The candidate will bring the strategic acumen to drive optimal outcomes on risk management and revenue growth for the business.
What you’ll do:
- Control Risk and Drive Performance Outcomes … Understand credit risk. Mitigate loss and responsibly grow revenue by developing value added risk strategies. Monitor performance of strategies and portfolios. Communicate results and solve business problems. Identify opportunities and drive actions.
- Data Driven… Your deep analysis will power the future of credit card business with an optimal real-time data ecosystem – including multi-product internal, credit bureau, and alternative data sources and uses.
- Iterate, learn, innovate… Bring your brightest ideas to build best-in-class risk strategies. You will architect the pre-screen, underwriting, risk tiering, and credit line strategies. Constantly evaluate the strategy performance, and put in place a process to optimize.
- Lead… Effectively drive and execute business objectives by taking ownership, in partnership with others in Risk and cross-functional teams. Lead/mentor junior team members. We are recruiting the best, brightest, and passionately quantitative team members.
- Collaboration... Ideate with the Data Science team to design new machine learning models. Partner closely with implementation teams to accurately deploy new strategies. Work with cross-functions including Risk Management, Business Unit, Operations, Marketing, Product, Finance, Legal and Compliance etc. to deliver successful business results.
What you’ll need:
- 8+ years of related experience
- Strong business acumen and extensive experience in driving credit risk strategy and acquisition underwriting for credit cards or unsecured loans, ideally in new account originations for near-prime, new-to-credit and thin-file segments
- Direct experience in the leading credit strategy analytical life cycle, including strategy formulation using advanced data analytics (eg: decision-trees), A-B testing, P&L evaluation, proposal presentation, strategy implementation and performance monitoring
- Proven analytical skills in leading and/or conducting sophisticated analysis using customer performance data, bureau attributes, and other 3rd party variables to solve business problems
- Demonstrated ability to synthesize and communicate analysis insights / recommendations to business partners and senior management, and drive and/or influence business decisions
- Proficiency in using Excel / Spreadsheet and Powerpoint / Slides
- High motivation to drive results, eager to learn, and able to work collaboratively with cross-functional teams in a fast-paced and dynamic environment
- Preferred: 6+ years of experience in driving credit risk strategy and acquisition underwriting for credit cards in new account originations for near-prime, new-to-credit and thin-file segments
- Preferred: Experience in developing credit strategies using innovative data sources such as cash flow data, alternative data and alternative risk scores from 3rd party vendors
- Preferred: Advanced degree (Master’s or PhD) with a quantitative major such as Statistics, Data Analytics, Mathematics, Engineering, or Computer Science
- Preferred: Proficiency in SQL and Python; knowledge in Decision Trees and Regressions
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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