Business Controls Manager

The role

The Business Controls team at SoFi operates within the First Line of Defense (1LOD), playing a crucial role in establishing and maintaining a robust control environment across Operations. This team serves as an advisor to business units, an accelerator of effective risk management practices, and an execution arm for independent 1LOD control testing. A core responsibility involves facilitating and driving the consistent implementation and execution of key Second Line of Defense (2LOD) Risk Management programs, including Risk and Control Self-Assessments (RCSA), Issue Management, Member Remediation, and Risk Reporting.

This position requires an independent and proactive individual who will partner closely with risk owners and the broader 1LOD organization. The role involves collaborating with stakeholders to identify and develop effective controls to mitigate identified risks, assisting issue owners in enhancing control frameworks to prevent recurrence, and actively contributing to control testing engagements for control owners. A key aspect of the role includes creating and reviewing operational workflows to identify potential risks and map appropriate controls, as well as identifying control gaps and supporting remediation efforts in collaboration with operational teams

By joining SoFi, you'll become part of a forward-thinking company that is transforming financial services for the better. We offer the excitement of a rapidly growing startup with the stability of an industry leading leadership team.

What you’ll do:

• Partner with stakeholders to conduct walkthroughs and create process maps for critical processes, facilitating in risk and control identification and ensure the environment is operating safely and in control
• Collaborating with risk owners to to identify and develop robust controls, providing guidance throughout the process
• Update and validate accuracy of risk-related data stored in RCSA inventory
• Assist the business in conducting timely periodic reviews and updates of RCSAs to assess the design and effectiveness of controls based on control testing results, effectiveness of issue remediation, any updates to processes, etc.
• Partner with the business units to manage issues and ensure timely and satisfactory completion of corrective action plans to address control gaps
• Assist issue owners in the design or enhancement of controls to address root causes in identified issues
• Coordinate with stakeholders on new initiatives to integrate relevant controls as part of implementation process
• Maintain strong engagement with 2LOD to ensure Operations and 1LOD Risk adheres to standards, policies, and procedures
• Provide support to the stakeholders during oversight activities performed by 2LOD
• Collaborate with the testing team to ensure testing scope comprehensive for identifying and mitigating risks effectively
• Undertake ad-hoc duties as needed to support the Operations department

What you’ll need:

• Bachelor’s degree
• 8+ years of relevant experience developing/managing risks and controls (RCSA)
• Experience in banking and/or fintech industry
• Experience mapping complex processes and identifying risks and control points
• Knowledge of banking products, processes and regulations
• Able to synthesize diverse processes and data and formulate appropriate conclusions
• An understanding of controls and how to apply them to different processes and functions 
• Demonstrate an ability to balance multiple critical priorities
• Self-starter with strong ability to work independently with minimum oversight
• Fluent in Excel and PowerPoint, comfortable with analyzing large datasets in Google suite, MS Office apps, etc.
• Inquisitive nature, attention to detail, diligence and a good attitude
• Strong interpersonal, verbal, and written communication skills; capable of writing documentation, and interacting positively with management and colleagues effectively via telephone (Zoom)
• Results oriented, demonstrated achievement of exceeding expectations
• Inquisitive nature, attention to detail, diligence and a good attitude:
• Strategic thinker who can partner with process owners to drive process improvements 
• Well-organized and demonstrates ability to balance multiple priorities