Director, Borrow Business Controls

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 with the Borrow business
• 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 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 :

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!

Pay range : $166,400.00 - $286,000.00

Payment frequency : Annual

This role is also eligible for a bonus, long term incentives and competitive benefits. More information about our employee benefits can be found in the link above.