Senior Manager of Risk Management, Credit Card Acquisition

$140,800 - $242,000/Yr

Social Finance - Frisco, TX

Full-time - Senior

Remote - Frisco, TX

Religious, Grantmaking, Civic, Professional, and Similar Organizations

About the position

SoFi's Credit team is at the forefront of managing credit risk activities for a variety of lending products, including Student Loan Refinance, Private Student Loan, Personal Loan, Credit Card, and Mortgage. The Senior Manager of Risk Management, Credit Card Acquisition will play a pivotal role in leading the credit risk strategies specifically for SoFi's Credit Card products. This position requires collaboration with business partners to drive revenue, control risk, and provide value to both the company and its customers. The successful candidate will be part of the Credit strategy team, which has first line of defense (1LOD) responsibilities, and will lead and mentor analysts to achieve business results. This role is crucial in scaling up Credit Card acquisition into newer population segments such as Prime, Near-prime, and New-to-Credit. The responsibilities include developing and implementing underwriting strategies for new account acquisitions that align with the company's risk appetite. The Senior Manager will also conduct monitoring analysis to provide insights and recommendations for enhancing strategies. This position requires a strong analytical background, as the candidate will utilize business knowledge and quantitative skills to drive revenue and manage risk effectively. The ideal candidate will have extensive experience in developing analytically-driven underwriting strategies for credit cards or unsecured loans, demonstrating a proven track record of delivering strong business results in a matrix environment. The role demands strategic acumen to optimize risk management and revenue growth for the business, ensuring that the interests of SoFi's members are prioritized.

Responsibilities

• Lead the development and implementation of credit card new accounts acquisition underwriting strategies that align with the company's risk appetite.
• Conduct monitoring analysis to provide insights and recommendations for strategy enhancement opportunities.
• Collaborate with cross-functional teams to drive revenue and control risk.
• Utilize business knowledge and quantitative skills to provide value to the company and consumers.
• Mentor and lead junior team members to achieve business objectives.
• Architect pre-screen, underwriting, risk tiering, and credit line strategies.
• Monitor performance of strategies and portfolios, communicating results and solving business problems.
• Identify opportunities for improvement and drive actions to enhance performance outcomes.
• Work closely with the Data Science team to design new machine learning models for credit risk management.

Requirements

• 8+ years of related experience in credit risk strategy and acquisition underwriting for credit cards or unsecured loans.
• Strong business acumen with extensive experience in new account originations for near-prime, new-to-credit, and thin-file segments.
• Direct experience in leading the credit strategy analytical life cycle, including strategy formulation using advanced data analytics.
• Proven analytical skills in conducting sophisticated analysis using customer performance data and bureau attributes.
• Demonstrated ability to synthesize and communicate analysis insights to business partners and senior management.
• Proficiency in using Excel and PowerPoint.

Nice-to-haves

• 6+ years of experience in driving credit risk strategy and acquisition underwriting for credit cards.
• Experience in developing credit strategies using innovative data sources such as cash flow data and alternative risk scores.
• Advanced degree (Master's or PhD) in a quantitative major such as Statistics, Data Analytics, Mathematics, Engineering, or Computer Science.
• Proficiency in SQL and Python; knowledge in Decision Trees and Regressions.

Benefits

• Base pay range of $140,800.00 - $242,000.00 annually, based on experience and location.
• Eligibility for bonuses and long-term incentives.
• Comprehensive and competitive benefits package.