SoFi is looking for a Loan Servicing and Funding leader. This position will be based out of our Salt Lake City, UT or Healdsburg, CA location, and be responsible for the Loan Servicing department across both locations. You’ll help grow, scale, coach and manage a servicing team with responsibility for managing the servicing of our consumer loans while delivering an outstanding member experience. As part of this role, you’ll have responsibility for the servicing operation across all loan products and will be the primary liaison with the servicers and sub-servicers. Your primary role will be to minimize loan delinquencies and maximize default recoveries. You’ll partner with the compliance team, legal team, and audit team to ensure all SOP documentation meets compliance and regulatory requirements while documenting the processes in place to execute the policies. This role serves as primary business SME for SoFi’s proprietary servicing system which includes partnering with the SoFi development team to recommend and test the continued growth of the platform. You’ll be the ultimate player coach, ready to help out with complicated situations while empowering your team to help you scale. Of course, you excel in communication and transparency to those who work with you.
7+ years’ work experience in a senior loan servicing role, including at least 3 years at the Director level, leading 40 or more team-members.
Experience in the consumer loan or student loan
Demonstrated success in managing multiple high value
Demonstrated success at delinquency reduction and recoveries
Strong written and verbal communication
Technically proficient, with outstanding Microsoft skills (Excel, Word)
Comfortable and experienced with metrics based performance, including the ability to meet critical deadlines.
Clear understanding of all regulatory/compliance including FDCPA, TCPA, UDAAP, REG B, REG Z and CFPB guidelines
Ability to multi-task, manage time and resources efficiently across multiple platforms while improving performance
Ability to be a motivational force and maintain a positive attitude toward peers while working under pressure.
Able to work when your team does, including early mornings, evenings and weekends, subject to goals and
Day-to-Day you will:
Management of Team and Resources:
Manage daily consumer, mortgage and student loan servicing processes (approx. 40 FTE in Healdsburg and Salt Lake City) to achieve KPIs which exceed internal .
Manage all aspects of Borrower Experience and Payment Processing within set SLA’s.
Manage all aspects of delinquency management and administer the execution of all payment modification programs.
Work with cross functional SoFi teams to develop and launch updates and new
Oversee the hiring, training and cross-training of team
Ensure department is adequately staffed with experienced and trained personnel to ensure fulfillment of essential duties and responsibilities.
Manage daily funding process including validation, verification, fraud
Manage all funding relationships with third party student loan agencies.
Provide reporting and audit material required as needed to investors, audit committees or regulatory agencies as
Vendor Management:
Primary liaison with vendors to ensure optimization of vendor provided services and adherence to program guidelines and contractual
Ensure systems are programmed as required based on contractual agreements as well as responsible managing pricing portion of
Conduct monthly vendor due diligence, quarterly onsite review and perform quality control audits.
Oversee and serve as the point of contact for servicers and sub-servicers.
Interact with SoFi teams to comply with any investor related
Evaluate and make recommendations to improve process
Compliance:
Responsible for ensuring compliance with policies and procedures and federal and state laws including student loan, consumer loan and
Work with Audit Team on QA audits and follow-up appropriately to address
Perform audits of necessary operations to ensure compliance with federal, state, and internal Policies and Procedures.
Prepare reports for management regarding both status of delinquency of portfolio and historical trends.
Metrics:
Establish processes and controls to develop a KPI reporting structure for
Implement and maintain quantitative and qualitative metrics for monitoring and measuring operating results
Provide weekly credit performance reporting and forecasting to internal
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