Senior Compliance Advisor, SoFi Invest

As a Senior Compliance Advisor at SoFi Invest, you will be responsible for providing essential guidance on retail brokerage matters. You'll work with stakeholders to ensure compliance with regulations and oversee operations related to marketing, trading, and broker-dealer licensing. Your role will also include managing regulatory exams, coordinating internal audits, and monitoring compliance processes. Collaborating with other compliance colleagues and liaising with regulatory authorities will be crucial in this role.

Candidates for the Senior Compliance Advisor position at SoFi Invest should have a minimum of 10 years in retail broker-dealer compliance, alongside at least 5 years of management experience. A Bachelor’s Degree or higher level of education is necessary, as well as holding FINRA Series 7 and 24 licenses. Additional certifications such as CRPC and experience in online retail brokerage compliance will make a standout candidate.

Success as a Senior Compliance Advisor at SoFi Invest requires strong analytical and organizational skills, in addition to a keen attention to detail. You'll need excellent communication skills for effectively conveying complex regulatory information. Having a robust understanding of retail brokerage operations combined with the ability to drive efficiencies through technology will also be advantageous in this dynamic environment.

In your role as Senior Compliance Advisor at SoFi Invest, you will handle various aspects of compliance related to online sales and trading of broker products, regulatory inquiries, internal audits, and more. This includes overseeing training for broker-dealer personnel and monitoring branch office inspections, ensuring that all activities align with established regulations and company policies.

As a Senior Compliance Advisor at SoFi Invest, there are ample opportunities for career growth. With the company's rapid growth and evolving landscape of financial services, you'll gain experience across various facets of compliance and engage with senior leadership. Your role may pave the way for advancements into higher management positions within the compliance division or other operational areas of the company.

When answering this question, consider detailing your background, focusing on specific compliance roles you’ve held. Mention any relevant regulations you’ve worked with and the frameworks you implemented. Provide examples of how you've successfully ensured compliance in past positions.

Describe your strategy for staying informed about compliance updates and market trends. Mention resources such as professional organizations, regulatory updates, seminars, and industry newsletters that you actively engage with to maintain your knowledge and skills.

Outline the steps you take when conducting compliance audits. Discuss how you prepare for audits, gather the necessary documentation, communicate with team members, and follow up on findings, ensuring continuous improvement of compliance practices.

Select a specific example of a challenging compliance issue, explain what the situation was, the steps you took to resolve it, and the outcome. Highlight your problem-solving capabilities and the importance of collaboration in achieving compliance objectives.

Talk about methods you use to communicate compliance information effectively, including team meetings, report generation, and training sessions. Emphasize the importance of clarity in communication and how it helps maintain compliance standards.

Discuss how technology has revolutionized compliance management. Highlight any specific tools you’ve used for monitoring, reporting, or data analysis, emphasizing the efficiency and accuracy improvements these tools provide in managing compliance processes.

Explain your approach to balancing compliance with business goals. Mention strategies for finding mutually beneficial solutions, like involving cross-functional teams in discussions and ensuring that compliance is viewed as a partner in achieving business results.

Detail the preparation process you would follow including reviewing documentation, coordinating with relevant teams, conducting pre-exam assessments, and ensuring all necessary materials are ready for the regulator. Highlight your attention to detail and organizational skills.

Share your experience in drafting and reviewing Written Supervisory Procedures. Emphasize your understanding of their importance in regulatory compliance and how you incorporate best practices into the documentation process.

Describe your risk assessment process by identifying potential compliance risks, monitoring key performance indicators, and adjusting strategies proactively. Discuss how your analytical skills help you foresee and mitigate these risks effectively.