Recovery Operations Senior Analyst

The role:

The Recovery Operations Senior Analyst is a critical member of SoFi’s Recovery Operations team responsible for managing aspects of our post charge-off vendor relationships across Agency collections, Debt Sales, Litigation, and the Internal Recovery Unit (IRU).  

The role will lead the build-out and documentation of an extensive set of internal control measures and reporting, aimed at instilling operational diligence and error free execution in all of our Recovery processes.  Of particular importance is the mapping of the IRU process, detailing critical decision points  and ensuring the right process controls are in place. This individual will partner with the broader Recovery Operations team, and SoFi’s audit and QA/QC teams to draft detailed SOPs and performance reporting (Control MIS) on the Recovery process.The Recovery Operations Senior Analyst role requires a strong understanding of collections and recovery operations;  knowledge and exposure to Control and Compliance in collections, and  experience in vendor oversight and operations risk management.  The successful candidate will be expected to provide meaningful insights into best practices in Collections and Recovery operations, and related regulatory developments, including identifying industry trends that may present opportunities or reflect gaps in SoFi’s approach. 

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:

The Recovery Operations Senior Analyst will:

• Lead the ideation, process build-out, and execution of a robust control infrastructure for Recovery operations, across the different operational streams. This will require partnering with CCoE’s Operations Risk Control team in drafting the framework for new controls and updating existing policies and procedures to align with the framework.  This individual will partner with relevant areas of the Lending Business to identify process and procedure issues, and areas of opportunity for introducing strong control risk management as it relates to Recovery Operations.
• Support the build out and deployment of a full set of operational control checks for the Internal Recovery Unit (IRU).  Ensure adequate controls are present in all aspects of the IRU’s operation; including monthly account assignment into the IRU, bi-weekly DSC scrub, settlement offering and arrangement, compliance with settlement break parameters, program completion and performance reporting.  
• Develop and maintain robust monitoring and reporting capabilities to track the different streams of Recovery Operations across SoFi’s lending businesses.  Lead an internal monthly review of portfolio trends, control reporting, and engineering progress updates.
• Build and maintain cross-functional partnerships and networks to contribute and drive strong execution around key business initiatives.
• Relationship Management - This individual may be assigned operational oversight of one of more Recovery vendors, requiring vendor staffing and process optimization discussions, regular performance reviews, operational due diligence, and annual on-site audits to ensure adequate controls and alignment with contractual agreements.
• Participate in the periodic review of customer complaints at the different vendors.  Partner with SoFi’s vendor in identifying complaint root cause and deploying resolution to customer issues or concerns.
• Participate in creating requirements for new loss mitigation strategies; representing the Recovery Operations team in the development life cycle of new strategies or policies.

What you’ll need:

• The Recovery Operations Senior Analyst will be someone with at least 5 years of collections and recovery industry experience, and highly motivated to collaboratively deliver solutions in a multi-product, nuanced regulatory environment.
• The candidate should have strong analytical skills to conduct tests and read test performance, and a demonstrated ability to synthesize and communicate recommendations to peers and senior management.
• The ideal candidate will have significant vendor management experience across collections agencies, litigation and bankruptcy attorneys, probate agencies, asset sale vendors, Credit Counseling Agencies, DSAs, and other collections and recovery players.