Business Controls Analyst

The role

We are seeking a proactive and detail-oriented Business Controls Analyst to join our Cardholder Services team. You will play a pivotal role in enhancing our customer operations through effective issue resolution, risk management, control design, consistent control execution, and operational support. With a keen understanding of operations dynamics, risk controls, and a strong interest in solving business problems, the ideal candidate will contribute to the smooth execution of our business operations, ensuring that we not only meet but exceed our business objectives in a compliant way.

The Business Controls Analyst is responsible for working with business partners (including risk management, compliance, and internal audit) to understand, identify, and resolve open issues. This person will work very closely with issue owners to drive quality documentation across the issue management lifecycle from issue identification through closure/escalation, and drive accountability with issue owners to ensure resolution. Additionally, this person will also be responsible for creating and delivering reports to ensure full awareness across the business.

The Business Controls Analyst will act as an advisor to cross-functional teams and will help identify common and disparate control issues, help teams with root cause analysis resulting from insufficient controls, as well as provide the organization with guidance and governance over the implementation of Corrective Action Plan’s (CAP). They will also help establish workflows/processes to support and drive consistent issues management resulting from risk and control self-assessments (RCSAs); facilitate and assist with control issues, management and remediation; and assist teams with the development and implementation of 1LOD risk issue/corrective action plans and reporting.

Additionally, this role will promote risk awareness and the overall effectiveness of the risk program across SoFi’s subsidiaries in line with Business and Enterprise RIsk Management (ERM) goals and processes.

What you’ll do:

• Partner with issue owners, auditors, and reviewers to build issue resolution plans that meet expectations and creatively solve issues. This includes strong root cause analysis and the ability to effectively risk rank and prioritize the highest risk issues.
• Exceed timeliness goals and meet issue management deadlines.
• Build out a milestone management model that ensures we are on track throughout the issue management process. 
• Partner and collaborate across business units to facilitate, tackle, and report on issues arising from Risk Control Self Assessments (RCSA’s).
• Partner with business units as well as SoFi enterprise risk teams to identify, mitigate, and migrate Issue and corrective action planning to a common system of record.
• Develop procedures and training to ensure a common set of issue/corrective action planning standards are followed.
• Develop key success measures/metrics and reporting to determine the effectiveness of issue identification and corrective action planning.
• Develop and provide risk reporting to management that tracks status, open items, and any risks that require escalation.
• Support the company’s three-lines of defense (3LOD) program.
• Maintain a comprehensive understanding of existing and emerging regulatory requirements, operational processes, inherent risks, and internal policies & practices to provide advice to stakeholders.
• Issue Resolution and reporting: Act as the first point of contact for any cardholder services issues, ensuring quick and efficient resolution. Develop and implement strategies to mitigate future risks, enhancing our overall control environment.
• Risk Management:  Monitor and identify potential risks in cardholder services and issue management activities. Collaborate with the risk management team to develop and enforce control measures, key risk indicators, and safeguarding business operations and client satisfaction.
• Process Improvement: Continuously evaluate and improve cardholder operations, incorporating best practices in risk management and effectively closing identified issues. Drive initiatives (process workflows, risk and control identification, control strengthening activities, etc.)that contribute to operational excellence and customer success by partnering with compliance, legal, risk management, and internal audit.
• Stakeholder Collaboration:  Work closely with internal teams, such as disputes, operational fraud, customer service, finance, etc.
• Knowledge Sharing:  Act as a knowledge resource for the cardholder services leadership team on risk controls, managing issues from opening to effective closure, and industry regulations as applicable. Organize training sessions to enhance team capabilities and knowledge.

What you’ll need:

• A Bachelor's Degree or 4 years of relevant experience instead of a degree.
• Minimum 5+ years of experience in operational risk processes in a financial services and/or banking environment; specifically managing first or second line of defense risks, controls, and issue management.
• Experience mapping root cause analysis, corrective action planning etc. across multiple teams and enterprise-wide.
• Strong ability to create a culture of ownership, accountability, collaboration, and ability to influence.
• Demonstrated initiative to identify problems that need to be addressed and prioritized.
• Partnership mindset to ensure we have positive and productive working relationships with auditors and examiners. 
• Experience with risk data, reporting, and analysis.
• Experience in highly-matrixed, fast-paced environments.
• Working knowledge of Google Suite.
• Results-oriented and attention to detail.
• Strong verbal and written communication skills. 
• Ability to balance multiple critical priorities simultaneously.
• Ability to build a process from the ground up and drive engagement from business partners.

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