What are the responsibilities and job description for the Compliance Specialist, Student Loans position at SoFi?
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The role:
The Student Loans Compliance Specialist will provide second-line independent oversight and guidance regarding SoFi's student lending products, services, and processes. Working through our compliance framework, this role is responsible for ensuring that home loans are executed in accordance with regulatory requirements. In partnership with the Compliance Officer of Unsecured Lending, the Specialist will continuously provide insight into the overall risk profile of the business and provide suggestions for improvements.
What you'll do:
- Ensuring that policies and processes are compliant, appropriate, competitive, and consistent with Management's risk appetite and strategy
- Assisting the Unsecured Lending Compliance Officer with risk assessments, third party oversight, policy and procedure reviews (aligned with corporate standards) and documentation of controls
- Experience working with Student Loan Servicers and a strong understanding of Fair Servicing, Hardship and Forbearance options and collection activities
- Monitoring business activities to identify regulatory risks to which the organization is exposed and work with the business and other support functions to implement measures to prevent, eliminate, or mitigate those risks
- Leading or participating in projects designed to address regulatory compliance requirements
- Provides specialist knowledge to business teams on Compliance matters to ensure a culture of compliance and partnership
- Assist in the preparation of examination responses conducted by various regulatory agencies
- Responsible for the review of complaints to identify regulatory exceptions and process improvements
- Review of complaints to determine regulatory impact and customer remediation.
- Guide the student loan business as they seek to launch new initiatives
- Ensures that all tasks are carried out with a high degree of professionalism and ethics
- Other duties as assigned to support the consumer compliance program
What you'll need:
- BA/BS Degree or equivalent combination of education and experience required.
- Experience with Student Loan Servicers, Hardship and Forbearance activities
- Minimum of five (5) to ten (10) years' experience working in compliance, audit or other governance functions within a deep knowledge of consumer lending regulations, specifically Regulation Z, FCRA, FDCPA, SCRA, MLA, and ECOA
- Ideal candidates for this position will be experienced reviewing disclosure/compliance documents
- Process management and improvement experience preferred
- Ability to interact with upper levels of management and multitask in a fast-paced environment
- Excellent analytical, technical and problem solving skills, with strong attention to detail
- An open-mind and ability to partner with the business to implement business initiatives while remaining compliant and within the SoFi risk appetite
- High ethical standards; ability to maintain confidentiality
- Exceptional verbal and written communication, collaboration, and time management skills
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.
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 Rights
SoFi 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 accommodations@sofi.com.
Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Salary : $107,000 - $135,000
