Job details

Compliance Specialist, Student Loans

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Who we are:

Shape a brighter financial future with us.

Together with our members, we're changing the way people think about and interact with personal finance.

We're a next-generation fintech company using innovative, mobile-first technology to help our millions of members reach their goals. The industry is going through an unprecedented transformation, and we're at the forefront. We're proud to come to work every day knowing that what we do has a direct impact on people's lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world.

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

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!