Credit Risk Governance Director, Small Business Banking
The Credit Risk Governance Director for Small Business Banking at SoFi is a strategic leadership role focused on developing, overseeing, and continuously enhancing the risk governance framework for small business banking products. This position requires a seasoned professional with extensive experience in credit risk management, small business banking, and financial technology operations. The director will collaborate closely with cross-functional teams to ensure the success of SoFi's credit risk strategy, establishing and maintaining risk policies, controls, reporting, and oversight mechanisms that promote sustainable growth and regulatory compliance across all small business banking products, including lending products.
Key responsibilities include designing, implementing, and maintaining a comprehensive risk governance framework for Small Business Banking. The director will provide oversight across various risk types for all product and feature launches, partnering with first-line-of-defense risk owners to ensure appropriate identification, monitoring, and mitigation of risks as the business scales. Additional duties involve overseeing credit risk policies, underwriting standards, credit guidelines, and portfolio management procedures, establishing governance routines with reporting to risk committees, challenging and validating new account strategies to minimize risk, and assisting with regulator and auditor requests and remediation plans. The director will also monitor portfolio performance, early warning indicators, and key risk metrics, analyze macroeconomic data for business impact forecasts and stress scenarios, and recommend strategy adjustments based on performance results, market conditions, and regulatory developments.
Candidates should have over 10 years of experience in credit risk management, underwriting, or risk governance within Small Business Lending or adjacent commercial/small-ticket lending segments. A deep understanding of small-business banking and credit products, including term loans, lines of credit, SBA loans, merchant cash products, checking, or embedded finance, is essential. Strong knowledge of regulatory frameworks such as ECOA, Fair Lending, UDAAP, and SBA SOPs, along with portfolio risk management practices, is required. Experience with stress testing, model analytics, benchmarking, and review/challenge functions is necessary. The director must demonstrate the ability to provide robust oversight, review, and challenge of risk management processes, portfolio risk reports, and credit data, with a comprehensive understanding of credit analysis, counterparty risk, risk measurements, and portfolio stress testing. Proficiency in using risk management tools and exposure monitoring processes, as well as exceptional analytical, communication, and executive presence skills, are also important.
The base salary for this role ranges from $160,000 to $275,000 per year, depending on individual factors such as experience, skills, and location. In addition to the base salary, SoFi offers a comprehensive and competitive benefits package, including bonuses, long-term incentives, and other employee benefits. Specific details about the benefits can be found on SoFi's official website.
SoFi is a next-generation financial services company and national bank committed to transforming personal finance. The company offers a dynamic and innovative work environment, providing opportunities for professional growth and development. Employees are encouraged to invest in themselves, their careers, and the financial world, with core values guiding every step. SoFi's mission is to help people achieve financial independence and realize their ambitions, making a direct impact on people's lives.