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The Role
The Fraud Prevention team is looking for an experienced fraud risk model manager/ lead. This role will be responsible for ensuring that the bank’s fraud risk models are robust, effective, and compliant with regulatory requirements. The incumbent will oversee the governance framework around the design, development, validation, and deployment of fraud models.
What you’ll do:
- Oversee the fraud model governance framework, ensuring that it meets regulatory standards and industry best practices.
- Maintain comprehensive documentation for all fraud models, and report on model performance, changes, and validation results to senior management and regulatory bodies as required.
- Document how the models are built, tested and validated, methodology, sampled and performance monitored..
- Conduct periodic model validation on scores reviewing precision, recall, rank ordering of score performance, detection of PSI and other metrics as needed.
- Ensure continuous monitoring of fraud models’ performance to identify and address model drift or degradation.
- Address any identified issues or gaps in the fraud model governance process and ensure timely resolution.
What you’ll need:
- Bachelor’s degree in Statistics, Mathematics, Economics, Finance, Computer Science, or related field.
- 5+ years of experience in model development, validation, or governance, preferably with a focus on fraud prevention.
- Deep knowledge of regulatory requirements pertaining to model risk management in the banking sector.
- Proficient in programming and data analysis tools such as Python, R, SAS, or SQL.
- Excellent communication skills with the ability to articulate complex technical concepts to non-technical audiences.
- Excellent communication, presentation and writing ability.
- Proactive with a strong sense of ownership and accountability.
Nice to Have:
- Advanced degree in Data Science or Machine Learning.
- Experience in implementing or overseeing AI/ML-based models for fraud detection
- Experience working in or working closely with the model risk management
Compensation and Benefits
The base pay range for this role is listed below. Final base pay offer will be determined based on individual factors such as the candidate’s experience, skills, and location.
To view all of our comprehensive and competitive benefits, visit our Benefits at SoFi page!
Pay range: $118,400.00 – $222,000.00
Payment frequency: Annual
This role is also eligible for a bonus, equity and competitive benefits. More information about our employee benefits can be found in the link above.
SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law. Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records. New York applicants: Notice of Employee Rights SoFi is committed to embracing diversity. As part of this commitment, SoFi offers reasonable accommodations to candidates with physical or mental disabilities. If you need accommodations to participate in the job application or interview process, please let your recruiter know or email accommodations@sofi.com. Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.
Internal Employees
If you are a current employee, do not apply here – please navigate to our Internal Job Board in Greenhouse to apply to our open roles.