Senior Analyst, Model Risk Management
Who we are:
Shape a brighter financial future with us. Together with our members, we're changing the way people think about and interact with personal finance. We're a next-generation fintech company using innovative, mobile-first technology to help our nearly 3 million members reach their goals. The industry is going through an unprecedented transformation, and we're at the forefront. We're proud to come to work every day knowing that what we do has a direct impact on people's lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world. The role SoFi's Model Risk Management (MRM) team has responsibility for assuring that all quantitative models used at SoFi are conceptually sound and are appropriately used and monitored. A major activity in support of this objective is independent validations of all models, and ultimately approving models for use or requiring rework. Other activities include conducting reviews of periodic model performance monitoring reports, approving model changes, classifying models into risk tiers, and driving adoption of modeling best practices. SoFi will soon possess a national bank charter from the Office of the Comptroller of the Currency. A strong Model Risk Management program is a key pre-requisite for operating a bank. As such, the Senior Analyst, Model Risk Management will perform highly visible and important work and will touch virtually all functional areas within SoFi. What you'll do:
The Sr. Analyst, Model Risk Management will spend a majority of their time performing critical reviews of (or validating) quantitative models planned for use at SoFi. The analyst will read model documentation and engage in dialogue with model developers to understand how the model was built and how it functions. The analyst will assess the suitability of data used to build the model, the conceptual soundness of the modeling approach, and the appropriateness of the testing protocols and diagnostic metrics used on the model. The analyst will review results of diagnostic testing and analysis performed by the model owner and will conduct confirmatory or additional work as needed to have confidence in the model. The analyst will summarize their work and findings in a detailed written report, which will include formal recommendations and any required remediation work. The models to be validated will cover a range of statistical approaches from basic regression to cutting-edge machine learning algorithms. The models will also span multiple areas of the business, from credit risk scorecards to models used for optimizing back-office operational processes. What you'll need:
? Strong analytical skills with formal training in statistical analysis and demonstrated ability to drive business enhancements through data driven proposals ? Strong writing skills; ability to communicate technical concepts in understandable terms ? Proficiency in Python or R ? Self-starter who is comfortable working both alone and closely with teammates and business partners ? Minimum 5 years of related experience with a Bachelor's degree in a quantitative discipline; or 3 years and a Master's degree; or a PhD without experience; or equivalent experience Nice to have:
? Prior model risk management experience in a banking environment ? Background in machine learning and artificial intelligence models Why you'll love working here:
Competitive salary packages and bonuses Comprehensive medical, dental, vision and life insurance benefits Generous vacation and holidays Paid parental leave for eligible employees 401(k) and education on retirement planning Tuition reimbursement on approved programs Monthly contribution up to $200 to help you pay off your student loans Great health & well-being benefits including:
telehealth parental support, subsidized gym program
Salary Range:
$80K -- $100K
Minimum Qualification
Corporate Finance, Risk & Quantitative AnalysisEstimated Salary: $20 to $28 per hour based on qualifications.
Shape a brighter financial future with us. Together with our members, we're changing the way people think about and interact with personal finance. We're a next-generation fintech company using innovative, mobile-first technology to help our nearly 3 million members reach their goals. The industry is going through an unprecedented transformation, and we're at the forefront. We're proud to come to work every day knowing that what we do has a direct impact on people's lives, with our core values guiding us every step of the way. Join us to invest in yourself, your career, and the financial world. The role SoFi's Model Risk Management (MRM) team has responsibility for assuring that all quantitative models used at SoFi are conceptually sound and are appropriately used and monitored. A major activity in support of this objective is independent validations of all models, and ultimately approving models for use or requiring rework. Other activities include conducting reviews of periodic model performance monitoring reports, approving model changes, classifying models into risk tiers, and driving adoption of modeling best practices. SoFi will soon possess a national bank charter from the Office of the Comptroller of the Currency. A strong Model Risk Management program is a key pre-requisite for operating a bank. As such, the Senior Analyst, Model Risk Management will perform highly visible and important work and will touch virtually all functional areas within SoFi. What you'll do:
The Sr. Analyst, Model Risk Management will spend a majority of their time performing critical reviews of (or validating) quantitative models planned for use at SoFi. The analyst will read model documentation and engage in dialogue with model developers to understand how the model was built and how it functions. The analyst will assess the suitability of data used to build the model, the conceptual soundness of the modeling approach, and the appropriateness of the testing protocols and diagnostic metrics used on the model. The analyst will review results of diagnostic testing and analysis performed by the model owner and will conduct confirmatory or additional work as needed to have confidence in the model. The analyst will summarize their work and findings in a detailed written report, which will include formal recommendations and any required remediation work. The models to be validated will cover a range of statistical approaches from basic regression to cutting-edge machine learning algorithms. The models will also span multiple areas of the business, from credit risk scorecards to models used for optimizing back-office operational processes. What you'll need:
? Strong analytical skills with formal training in statistical analysis and demonstrated ability to drive business enhancements through data driven proposals ? Strong writing skills; ability to communicate technical concepts in understandable terms ? Proficiency in Python or R ? Self-starter who is comfortable working both alone and closely with teammates and business partners ? Minimum 5 years of related experience with a Bachelor's degree in a quantitative discipline; or 3 years and a Master's degree; or a PhD without experience; or equivalent experience Nice to have:
? Prior model risk management experience in a banking environment ? Background in machine learning and artificial intelligence models Why you'll love working here:
Competitive salary packages and bonuses Comprehensive medical, dental, vision and life insurance benefits Generous vacation and holidays Paid parental leave for eligible employees 401(k) and education on retirement planning Tuition reimbursement on approved programs Monthly contribution up to $200 to help you pay off your student loans Great health & well-being benefits including:
telehealth parental support, subsidized gym program
Salary Range:
$80K -- $100K
Minimum Qualification
Corporate Finance, Risk & Quantitative AnalysisEstimated Salary: $20 to $28 per hour based on qualifications.
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