Student Loan Compliance Senior Manager

SoFi’s Student Loan Compliance Senior Manager team plays a critical role in mitigating risk and protecting SoFi’s growth and success. As a Student Loan Senior Manager at SoFi, you will have a tremendous impact on this critical team. Someone that is successful in this role will be a ‘Go Getter’ by partnering in change, re-defining policies and improving practices. You’ll develop relationships of trust within the organization so that your role is a value add for the business unit. Your relevant skills and expertise will be an integral part of the discussion when addressing ways to further enhance the Compliance Management Systems and programs at SoFi. If you have previous compliance management experience and share our passion for consumer protection this could be the role for you.

What you will do

• Strategically advise the Student Loans leadership team (originations and servicing of in-school loans,  private student loans, and student loan refinance) on new initiatives and business changes with a keen eye on driving efficiency and  identifying opportunities to improve processes while ensuring the business executes operationally within regulatory bounds and SoFi’s risk appetite.

• Oversee SoFi’s student loan servicing engagements for compliance with regulatory obligations

• Collaborate with the product development team to provide compliance advice and guidance from the initial stage, helping to shape a product that is both innovative and compliant.

• Identify issues through complaint reviews and ongoing business engagement and ensure business remediation plans are appropriate to resolve issues, including member restitution 

• Assess regulatory changes for impact to SoFi’s student loans business and hold the first line of defense accountable for implementation activities. 

• Perform an annual risk assessment of applicable regulatory requirements and evaluate the controls and quality of risk management, among other areas, drafting the report narrative, and opening issues for concerns identified through the risk assessment. 

• Identify and open issues that have regulatory impact as identified through ongoing monitoring activities of the student loan business. 

• Complete compliance risk assessments, analyzing the Bank's compliance risk for student loans businesses; determine if current processes and controls appropriately mitigate risk.

• Manage state and federal student loan exam deliverables for Compliance

• Analyze new and changing laws and regulations and development of implementation strategies.

• Foster a culture of compliance throughout the organization, demonstrating the importance of ethical behavior and regulatory adherence.

• Performs research on regulations and provides guidance to business operations (divisions) on compliance requirements.

• Assist the Communications with the Public with marketing asset reviews for student loan advertisements

• Conduct meetings to discuss risk assessment results and lead line of business to remediation plans.

• Participates in Compliance Committees

• Performs compliance reviews on specific loan-level accounts, as required.

• Provide guidance on regulations, requirements, and Bank policies.

• Analyze the Bank's compliance risk; determine if current processes control risk.

• Other duties and special projects as assigned.

What we’re looking for:

• Minimum qualifications:

  • Bachelor’s degree or equivalent practical experience

  • 10+ years of experience in student loan origination and servicing compliance, risk management or regulatory law

  • JD, CRCM, or other Compliance Certifications preferred

  • A deep understanding of federal and state consumer lending rules regulations (e.g. FCRA, TILA,UDAAP, SCRA, ECOA, EFTA, TCPA, GLBA)

  • Exceptional communication skills, with the ability to translate complex-regulatory language into actionable business requirements.Superior organization, project management, and interpersonal skills with demonstrated decision-making capability while dealing with competing interests

  • Self-starter mentality with the ability to work well under pressure and a strong sense of personal accountability and ownership

  • Strong commitment to ethics and exercises good judgment

  • Adaptable and flexible to changing priorities and situations

  • Flexibility and willingness to learn and take on new evolving responsibilities

  • Excellent leadership and negotiation skills, capable of navigating through a complex matrixed environment.

  • Strong analytical and problem-solving skill, with a proactive approach to identifying and mitigating potential compliance risks.