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Home Loans Vendor Manager

Company: SoFi
Location: Frisco
Posted on: January 16, 2022

Job Description:

Employee Applicant Privacy Notice

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 2+ 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.

Position Summary: Vendor Management

This position requires deep mortgage operations knowledge, experience, and vendor management. Ensures the most effective working relationships with vendors, through effective contract management, monthly business reviews, performance scorecards, change management and daily vendor interactions as needed. Acts a liaison between SoFi internal partners and vendors.

Is responsible for creating and maintaining home loans policies and procedures both vendor management and operating

Knowledge of audit processes, operational excellence, information security, regulatory compliance, contract compliance and negotiations, to assess and recommend improvements related to third-party systems. Working knowledge of operational audit and control procedures and ability to partner with partners (i.e. Compliance, Legal, Internal Audit, and Business Units) to help ensure proper levels of vendor service assurance and compliance state and federal laws and requirements.

This role will assist with establishing and maintaining department procedures and processes. Monitor service level agreement (SLA) compliance along with vendor scorecard adherence and other contractual covenants and obligations to ensure vendor compliance. Perform all duties in accordance with the company's policies and procedures, all US state and federal laws and regulations, wherein the company operates.

Essential Duties And Responsibilities

  • Conducting reviews of existing vendor management policies and procedures; update and augment with industry best practices as needed.
  • Maintaining and reviewing department policies and procedures, forms, reports, training material, job aids and checklists for accuracy to ensure compliance by identifying any gaps and developing new processes to address them.
  • Conducts ongoing evaluation of vendors' contracts/SLAs/SOWs and monthly vendors' performance scorecards to ensure vendors compliance in accordance with vendor contract, SLA/SOW, Key Performance Indicators (KPIs) and Service Level Agreements (SLAs) as required
  • Evaluate final monthly vendor scorecard data and supporting evidence for completeness and accuracy while looking for areas of improvement and developing solutions to address any gaps.
  • Monitors Vendor Consumer Complaints received by the department and address them with internal and external stakeholders to ensure coordinated response and/or the completion of a remediation action plan when required.
  • Manages, monitors and tracks compliance of all third-party vendors to regulatory and internal policy by ensuring activities adhere to established service level.
  • Assist management in conducting testing of various department systems and reports to achieve maximize department effectiveness and quality.
  • Assist management in conducting testing new software systems, enhancement and documenting findings as needed.
  • Review and respond to internal and external audit requests received by the department as needed.
  • Conducts reviews of vendors' on-site audits to ensure proper business units notification and completion and tracking of any vendor remediation plans.
  • Manages vendor communication requests and tracks acknowledgements as required.
  • Prepare department reports and distribute to other stakeholders on regular basis while performing ongoing analysis to enhance vendor performance in accordance with SoFi expectations
  • Review and approve all vendor payments to insure they are in compliance with all contractual terms.
  • Perform other duties and projects as assigned.
  • Establishing standards by which to assess the performance of approved vendors.
  • Identify process gaps and optimize efficiency/quality in the process between vendors and business.
  • Work in close partnership with fulfillment vendors and internal stakeholders to ensure an optimal end-to-end mortgage process flow
  • Responsible for managing relationships/performance/administration of third-party vendors and coordinate/work with compliance on due diligence, vendor assessments, and monitoring of third party vendors
  • Stay current on the latest trends, technologies, and competitive pressures in the industry
  • Coordinate communications between vendors and internal partners
  • Manage the change management process between vendors and SoFi
  • Responsible for policy and procedure reviews and updates
  • Serves as a subject matter expert for all performance issues that surface.
  • Resolves transactional level escalations coming from the vendor or internal partners
  • Create and analyzes monthly performance scorecards /performance management tools in an attempt to mitigate exposure (risk/financial/regulatory) and improve vendor performance and member experience
  • Plan and execute vendor management governance and oversight protocols
  • Annual travel to vendor places of business to conduct audits in compliance with vendor contracts.
  • Analyze contracts, performance, invoicing, InfoSec, regulatory and licensing issues related to third-party relationships for compliance with state and federal laws and requirements.
  • Work with vendors and SoFi business units in developing and overseeing the implementation of risk remediation measures.
    Be agile and ready to problem solve anything that comes our way.

    Qualifications
    • Five + years of mortgage industry expertise including operations, compliance, vendor management, policy and procedure.
    • Change management
    • Demonstrated experience in establishing, and enforcing vendor contracts and service level agreements.
    • Excellent organizational skills, detail oriented, logical, and systematic with the ability to manage multiple tasks at same time
    • must have experience presenting conclusions in a clear and concise manner; with ability to work in a high volume and strict deadline environment.
    • Demonstrated track record of leadership, collaboration skills,
    • Excellent verbal and written communication skills with a demonstrated ability to build and maintain relationships within the vendor base
    • Strong analytical and problem-solving skills
    • Ability to prioritize and multi-task in a fast paced ever changing environment
    • Ability to organize and meet deadlines
      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
      • Employer paid lunch program (except for remote employees)
      • Fully stocked kitchen (snacks and drinks)
      • These benefits are only applicable to full time employees
        SoFi provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion (including religious dress and grooming practices), sex (including pregnancy, childbirth and related medical conditions, breastfeeding, and conditions related to breastfeeding), gender, gender identity, gender expression, national origin, ancestry, age (40 or over), physical or medical disability, medical condition, marital status, registered domestic partner status, sexual orientation, genetic information, military and/or veteran status, or any other basis prohibited by applicable state or federal law.

        The health and safety of our employees and their families is our top priority. Due to the ongoing nature of the COVID-19 pandemic, and because unvaccinated employees pose a direct threat to the health and safety of others in the workplace, effective on November 1, 2021, U.S. employees must be fully vaccinated to work from any of our offices, travel for business or attend work-related meetings.

        The company will make reasonable accommodations when possible for employees who are unable to be vaccinated because of a disability, pregnancy, sincerely held religious belief, or for other legally required reasons..

        Pursuant to the San Francisco Fair Chance Ordinance, we will consider for employment qualified applicants with arrest and conviction records.

        Due to insurance coverage issues, we are unable to accommodate remote work from Hawaii or Alaska at this time.

Keywords: SoFi, Dallas , Home Loans Vendor Manager, Executive , Frisco, Texas

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