Small Business Banking Credit Oversight Lead

About the role

As the , you will play a pivotal role in shaping the credit risk management strategies for our small business banking division. This position is crucial for ensuring that our lending practices align with regulatory standards while also supporting the growth and success of our small business clients. You will collaborate with various teams to develop and implement robust credit policies, monitor portfolio performance, and drive initiatives that enhance our credit oversight capabilities. Your expertise will directly contribute to SoFi's mission of empowering small businesses through innovative financial solutions.

Key facts

What you'll do

• Lead the development and implementation of credit risk policies and procedures tailored for small business banking, ensuring compliance with regulatory requirements and industry best practices.
• Analyze and interpret credit data to assess risk levels associated with small business loans, making informed recommendations for credit approvals and adjustments.
• Collaborate with cross-functional teams, including underwriting, risk management, and compliance, to ensure cohesive credit oversight and alignment with business objectives.
• Monitor the performance of the small business loan portfolio, identifying trends and potential risks, and developing strategies to mitigate those risks effectively.
• Conduct regular reviews of credit policies and procedures, making necessary updates to reflect changes in regulations, market conditions, or business strategy.
• Provide training and support to team members on credit risk assessment methodologies and the application of credit policies.
• Prepare and present reports to senior management on credit risk exposure, portfolio performance, and compliance with established policies.
• Engage with external stakeholders, including regulators and industry associations, to stay informed about emerging trends and regulatory changes impacting small business lending.
• Drive initiatives aimed at enhancing the customer experience for small business clients, ensuring that credit processes are efficient and user-friendly.
• Participate in the development of new lending products, providing insights on credit risk implications and market demand.
• Utilize data analytics tools to enhance credit decision-making processes, ensuring that decisions are data-driven and aligned with business goals.
• Foster a culture of risk awareness within the organization, promoting best practices in credit management across all levels of the business.

Requirements

• Bachelor's degree in finance, business administration, economics, or a related field; a master's degree or relevant certifications (e.g., CFA, FRM) is a plus.
• A minimum of 5 years of experience in credit risk management, specifically within the banking or financial services sector, with a focus on small business lending.
• Strong understanding of credit risk assessment methodologies and regulatory requirements governing small business lending.
• Proven experience in developing and implementing credit policies and procedures that drive risk management effectiveness.
• Excellent analytical skills, with the ability to interpret complex data and make strategic recommendations based on findings.
• Strong communication and interpersonal skills, with the ability to collaborate effectively across teams and present findings to senior management.
• Detail-oriented with a strong commitment to accuracy and compliance in all aspects of credit oversight.
• Proficiency in credit risk management software and data analytics tools; familiarity with SQL or similar programming languages is advantageous.

Nice to have

• Experience with fintech or digital banking platforms, particularly those focused on small business solutions.
• Knowledge of emerging trends in small business lending, including alternative credit scoring models and innovative financing options.
• Previous experience in a leadership role, with a track record of mentoring and developing team members.
• Familiarity with regulatory frameworks affecting small business lending, including Dodd-Frank and other relevant legislation.

Skills & tools

• Credit risk assessment and management
• Data analysis and interpretation
• Policy development and implementation
• Cross-functional collaboration
• Regulatory compliance
• Customer experience enhancement
• Risk management frameworks
• Financial modeling and forecasting

Practical notes

• This position is based in Frisco, TX, and may require occasional travel for meetings or industry events.
• Candidates must be eligible to work in the United States; visa sponsorship is available for qualified individuals.
• The role may involve working with sensitive financial data, requiring a high level of confidentiality and ethical standards.

META

Company: SoFi

Title: Small Business Banking Credit Oversight Lead

Listed

location: TX

Frisco

Apply URL: https://sofi.com/careers/job/7805235003?gh_jid=7805235003