Senior Director, Operational Business Controls
SoFi
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The role:
Business Controls Senior Director supporting SoFi’s Operations function which is positioned in the first line of defense (1LOD) and reporting to the Head of Business Controls. This experienced, senior leader will act as the Business Controls Lead for SoFi’s Operations function comprising customer servicing, fraud operations, and various back office processes.
The Business Controls Lead will act as the direct advisor to the senior leaders of SoFi Operations, promoting risk-awareness, the overall effectiveness of risk and compliance management program implementation, and the execution across the 1LOD. The role will provide support and provide advisory services directly to the department heads and their teams to accelerate and ensure quality execution.
Responsible for supporting and driving consistent 1LOD adherence to critical programs such as building and maintaining risk and control self-assessments (RCSAs); identification and evaluation of control effectiveness through control testing; 1LOD risk reporting; and supporting audits and regulatory exams. Monitors the first line of defense in these assigned functions to minimize risk exposures and strengthen the overall control environment. Leverages risk assessment data to identify and seek improvements in the control environment for these areas. Contributes to the overall design and build-out of SoFi Business Controls function.
What you’ll do:
- Partner and collaborate across your covered departments: the second line of defense Compliance and Risk Management teams; Audit; and Regulators to support a diverse portfolio of risk and compliance-based initiatives to effectively manage and mitigate operational, compliance, strategic and reputational risk.
- Be the direct “one-stop quarterback” to the senior leader of each department on all matters related to effective risk management
- Maintain a comprehensive understanding of existing and emerging regulatory requirements, operational processes, inherent risks, and internal policies & practices to provide advice to stakeholders
- Partners with your functional unit leaders to ensure existing and emerging risks stemming from business activities are effectively identified, measured, monitored, and controlled.
- Engage in large and complex initiatives and programs to identify and assess risks and controls, develop strategies to remediate gaps identified, and implement processes to effectively manage and mitigate risk
- As a key leader in the Business Controls team, strongly contribute to the design, development, and implementation of 1LOD risk management programs; share best practices to ensure all parts of the 1LOD are executing efficiently and effectively
- Utilize strong 1LOD governance practices; participate in key Committees as needed
- Follows written second line of defense (2LOD) risk and compliance policies for business activities; assists 1LOD in translating into execution
- Utilize effective 1LOD risk reporting and trend analysis; advise functional unit leaders on the status of their control environment related to risk identification and control weaknesses. Identifies critical areas to monitor and escalates issues and findings to appropriate stakeholders.
- Assists with translating control deficiencies into action plans and provides recommendations to enhance governance practices in alignment with risk and compliance frameworks.
- Anticipates business needs and proactively identifies opportunities to improve and strengthen the control environment through actionable insights.
What you’ll need:
- A Bachelor's Degree or 4 years of relevant experience in lieu of a degree
- 8+ years of leadership experience supporting risk and/or compliance-related activities in financial services operating environment or other relevant industry
- Subject matter expertise in operational risk and controls; working knowledge of relevant regulations and standard industry processes
- Experience executing RCSA framework, supplier risk management and issues management
- Experience in understanding risk management facing functional areas of Fraud Operations and Customer Service delivery
- Excellent verbal and written executive communication skills
- Influencing skills and ability to effectively partner with all levels of management to help drive the control agenda
- Experience interacting with regulators (e.g., Federal Reserve, OCC, or CFPB)
- Experience with risk data, reporting and analysis.
- Ability to analyze, organize and prioritize across multiple competing priorities
- Demonstrates initiative, ownership and accountability
- Nice to have includes advanced degree; relevant industry certifications, for example, CPA, CCRM, ACAMS
