Enterprise Third Party Risk Governance, QA Senior Analyst

$99,200 - $186,000/Yr

Social Finance - Frisco, TX

Full-time - Mid Level

Remote - Frisco, TX

Religious, Grantmaking, Civic, Professional, and Similar Organizations

About the position

SoFi's Risk Management team is dedicated to ensuring that growth in lending and other member-related activities aligns with the company's risk appetite. This team manages a variety of risks including enterprise, credit, deposit products, fraud prevention, portfolio management, infrastructure, and business operating risks. The Enterprise Third Party Risk Governance Quality Assurance Senior Analyst will play a crucial role in overseeing and governing SoFi's Third Party Risk Management Program. This involves conducting assessments of the design and operational effectiveness of the program to ensure compliance with requirements throughout the supplier lifecycle. In this role, the analyst will collaborate with SoFi Business Units, internal program stakeholders, and external third-party service providers. Key responsibilities include designing and developing effective quality assurance strategies that align with SoFi's Third Party Risk Management Program requirements. The analyst will execute risk-based control and transactional testing, document testing methodologies and results, and analyze these results to provide actionable recommendations for improvement. Communication of results and recommendations to internal stakeholders is essential, as is governing issues and actions developed through SoFi's Issue Management Program. The analyst will also support program and process updates, guiding third-party program requirements based on the results generated from quality assurance and testing execution. This position offers the opportunity to innovate by bringing bright ideas to ensure risk is managed in alignment with regulatory guidance and best practices throughout the third-party lifecycle, which includes planning, due diligence, contract management, ongoing monitoring, and termination. The role is designed for someone who can make data-driven decisions, provide effective challenges, and drive performance outcomes by monitoring the risk and control environment.

Responsibilities

• Collaborate with internal teams and stakeholders to design and develop effective quality assurance strategies across the third-party lifecycle.
• Execute risk-based control and transactional testing in alignment with program design and document testing methodology and results.
• Analyze testing results, draw meaningful conclusions, and provide practical and risk-based actionable recommendations for improvement.
• Communicate results and recommendations to internal stakeholders and govern issues and actions developed through SoFi Issue Management Program requirements.
• Support program and process updates and guide third-party program requirements through results generated from quality assurance and testing execution.
• Innovate to ensure risk is managed in alignment with regulatory guidance and best practices throughout the third-party lifecycle.
• Make data-driven decisions by analyzing documentation to assess third-party risk and compliance with program requirements.
• Lead operating process and control improvement by reviewing, monitoring, and testing internal controls and making recommendations for improvement.
• Build effective relationships with third-party program stakeholders and support key third-party relationships.
• Monitor the risk and control environment to ensure exposures are kept at acceptable levels through issue monitoring administration and oversight of remediation actions.

Requirements

• Bachelor's degree in Business, Accounting, or Finance.
• Minimum of five years of Quality Assurance, Internal Audit, Risk, Compliance, or Second Line Third Party Risk Management experience in the Financial Services industry.
• Experience designing, implementing, or testing internal controls, and reviewing risk mitigation through oversight of key supplier relationships.
• Experience developing testing strategies, communicating and reporting on results, and making recommendations for risk mitigation.
• Knowledge of Third Party Risk Management methodologies, regulatory expectations, and risk mitigation principles.

Benefits

• Base pay range of $99,200.00 - $186,000.00
• Eligibility for a bonus
• Comprehensive and competitive benefits package