The Bank Operations Manager is responsible for all daily banking operations activities at SoFi, monitoring automated processes, performing daily settlement and reconciliation, and managing processes to ensure customer transactions flow smoothly through payment processing services. This role concentrates on building partner relationships and improving SoFi’s customer service experience by supporting a team dedicated to resolving operational issues.
You will manage a team of 5-10 back-office operations staff who with responsibility for processing all banking operations functions and delivering an outstanding member experience, contributing to our financial goals at or ahead of target. You’ll get the perks of a start-up – free lunch, stock options, generous time off – while working in a well-funded, profitable and disruptive financial services company.
By joining SoFi, you’re joining a new kind of finance company based around speed, transparency, and alignment with our members’ interests. Our goal is to be the center of our members’ financial lives. We created student loan refinancing, addressing the biggest financial challenge this new generation has through a new approach to lending. We expanded into other types of loans, and then into insurance and wealth management with similarly inventive products. As the company has grown, we’ve been able to help more people with these tools.
SoFi has achieved significant growth, with big plans ahead. In just the last year, we’ve more than doubled our member base (260,000 strong), doubled loan volume ($8 billion in 2016), and grown our team from under 200 people to more than 900. We’re preparing to go global, with expansion to Australia and Canada planned this year. And we’re well capitalized to power all this growth, having raised $1.9 billion in equity backing. But we’ll only be able to continue this growth with great talent, and that includes you.
Major Duties and Responsibilities:
Help build all banking operations functions from the ground up in a fast-paced start-up environment.
Drives the successful execution of all SoFi payment processing and demonstrate mastery of all required systems, including ACH (Automated Clearing House), SWIFT, and IAT (International ACH Transaction)
Recommends and manages vendors and consultants as required to ensure creation and consistent operations/processing
Responsible for insuring compliance with laws and regulations
Supervise all data processing activities
Assist with customer service investigations to ensure adherence to SoFi SLAs
Oversees SoFi operations staff and directs workflows between departments
Complete projects by assigning work to clerical or functional staff as appropriate; following up on results and supporting outcomes
Prepare reports by collecting and analyzing data
Build and maintain thriving relationships between internal SoFi partners, stakeholders and vendors, cultivating a culture of collaboration, transparency and mutual success
Some travel nationally and internationally may be required
Fosters a culture of creativity, collaboration, speed, innovation, excellence and a fun work environment while continuously elevating the quality and caliber of our fiscal controls
Works effectively across the organization to maximize company resources
Creates a productive and healthy work/life balance. Effectively manage stress, foster a flexible work environment, and keep the team focused, engaged, productive, and fulfilled
Ensures all team and group goals are achieved
Minimum Qualifications and Skills:
Bachelor’s Degree (MBA preferred) in Business, Economics, Finance or related field required
5+ years of relevant risk experience in the banking, financial services, foreign exchange or other related industry
Demonstrable ability leading an organization through its start-up and growth phases, including directing multiple departments through collaboration and cohesion
Must have significant knowledge of banking compliance trends, rules and regulations related to the FDIC, OFAC, FinCen, significant knowledge of Bank Secrecy Act, UDAAP, KYC/CIP and AML regulations, Electronic Funds Transfer Act, Truth In Savings Act
Excellent understanding and experience of Banking Operations procedures and best practices, including deposit processing and accounts management
Banking systems experience with Profile or FISERV optional
Outstanding management skills and interpersonal skills, and the ability to work with all levels within the organization in a collaborative manner
Exemplary communication and presentation skills are required. Must be able to establish peer relationships and communicate effectively with multiple company disciplines, cross-functional, and external teams
Excellent project management, organizational and negotiation skills are required
Strong management skills are required to manage the team of managers, associate managers and associates
Strong written communication skills are required to answer questions and communicate issues clearly & concisely to associates, associate managers, managers and members as well as upper management
Ability to react to change quickly and implement new processes & procedures
Ability to work independently with little or no supervision
Professional demeanor and excellent work habits are essential
Student loan originations, consumer credit or consumer lending experience preferred
Financial services specific customer service experience preferred
Some evenings and weekend days will be required
Catered lunches, a fully stocked kitchen, and subsidized gym membership.
Competitive salary packages and bonuses
A flexible vacation policy allows you to truly relax and reboot.
Comprehensive health, vision, dental, and life insurance as well as disability benefits.
100% of health, vision, and dental premiums paid by SoFi for employees and their dependents.
401(k) and education on retirement planning.
Tuition reimbursement on approved programs, up to $5,250 a year.
Monthly contribution to help you pay off your student loans.