The role
The Director of Risk Appetite, KRIs, and Concentration Risk will be responsible for developing the Risk Appetite Framework, Key Indicator Program and Concentration risk, including the policies, standards, and management of program requirements. The role will work cross functionality with other second and first line of defense areas leading the annual review and refresh of risk appetite statements and supporting metrics in alignment with the company’s strategic objectives, identifying and monitoring a robust set of management level key indicators are in place to monitor risk at a more granular level. In addition, this role will also be responsible for identifying existing and emerging concentration risks and material trends to establish risk adjusted metrics, scenarios and risk drivers to augment existing metrics to provide second line of defense oversight of the analytics used to identify, quantify and manage concentration risks.
Key responsibilities include:
- Developing and maintaining SoFi’s Risk Appetite Framework, Key Indicator Program and Concentration Risk oversight including policy, standards, procedures, and training to support the program;
- Managing a team of individuals supporting the Risk Appetite, Key Indicator, and Concentration Risk processes, and governance requirements and hold responsibility for staffing, performance management, guidance, training, and development;
- Leading the annual risk appetite review, in partnership with other Independent Risk Management areas and the business, to assess the business strategy, objectives and key risks to develop risk appetite statements and supporting metrics and tolerances;
- Monitoring RAS level metrics as well as select management level KRI/KPIs that may indicate negative and/or material risk trends;
- Managing the timely reporting of RAS metrics, assessing against set thresholds and ensuring breach protocols and mitigation actions are documented and reported as per program requirements;
- Analyzing new activity and emerging risks, in partnership with Independent Risk Management, to ensure risk taking activities are credibility challenged and in line with the company’s strategic business goals and within risk appetite;
- Ensure the overall program integrates with other governance programs and adheres to industry best practices and regulatory expectations.;
- Develop requirements and support the assessment, selection and implementation of the technology platform to serve as the system of record for the program;
- Collaborate with other Independent Risk areas, Risk Reporting and Subject Matter Experts, to establish risk analytics to assess enterprise level concentrations across various risk spectrums, and to address regulatory and risk management requirements;
- Review, and challenge analytical methodologies within the context of enterprise concentration risk management function. Design and develop appropriate tests and scenarios ultimately used to identify, quantify and manage concentration risk at SoFi and;
- Evaluate analytical tools and coordinate the reporting and technology implementations of incremental concentration risk metrics, and related governance configurations
By joining SoFi, you'll become part of a forward-thinking company that is transforming financial services for the better. We offer the excitement of a rapidly growing startup with the stability of an industry leading leadership team.
What you’ll do:
- Innovate and lead the development of SoFi’s Risk Appetite Framework, and incorporate best practices and innovative solutions.
- Challenge Status Quo in the build-out of comprehensive policies, standards, procedures and training for SoFi's Risk Appetite Framework that drives meaningful strategic insight, and provides a path from good-to-great.
- Lead and Inspire our rapidly growing team, promoting company values and industry best practices by sharing your broad experience across the organization.
- Provide thought leadership and oversight for a variety of risk-related enterprise initiatives which would include leadership of and participation in cross-risk category working groups.
What you’ll need:
- 10+ years of relevant experience developing/managing Risk Appetite Framework and supporting processes
- Experience identifying, assessing, and monitoring relevant risks and impact to overall risk profile
- Strong analytical background with hands-on experience of financial /risk model development and/or validation
- Bachelor’s degree preferred in a quantitative discipline (e.g., Economics, Math, Physics, Statistics)
- Broad understanding of different risk stripes, including but not limited to credit, market, operational, liquidity, counterparty credit risks, etc.
- Knowledge of the fintech environment across unique products and services (secured and unsecured credit, deposit, investment, payments, banking as a service) with both domestic and international operating structure.
- Proven success in team environment with effective leadership and strong influence/negotiation skills
- Strong written and verbal communications skills, and ability to interact clearly and concisely at all levels of the organization with appropriately tailored messaging
- Ability to draw conclusions and provide recommendations in a clear, concise, and constructive manner, both orally and in writing
- Independent self-starter who can manage multiple activities and competing priorities within defined deadlines.
- Exceptional problem solving and critical thinking skills, and a strong attention to detail.
- Strong leadership, management skills
- Ability to manage initiatives ensuring high quality and timely delivery in a fast paced environment
- Strong knowledge of regulations governing the financial industry
- Ability to work across all risk categories and business lines to deliver results.
- Strong analytical skills, ability to see the “big picture” and linkages between risk programs and data.
- Ability to collaborate with others in owning deliverables.
- Proven ability to adjust quickly to shifting priorities, multiple demands, ambiguity and rapid change.
