Varo Bank is hiring a
Head of Fraud

Summary

Join Varo as the Head of Fraud to lead their efforts in combating fraud, develop and implement a comprehensive fraud program, and be seen as an industry pace setter. This role requires a strategic growth mindset, strong analytical skills, experience leading cross-functional teams, and proven success in fintech or financial services.

Requirements

• Proven experience in leading fraud strategy and operations within a fintech or financial services organization
• Deep understanding of fraud prevention techniques, tools, technologies, industry best practices, and regulatory requirements
• Strong analytical skills and ability to leverage data to drive decision-making
• Experience in building and managing high-performing cross-functional teams
• Excellent communication and interpersonal skills
• Advanced degree or commensurate experience in a relevant field (e.g., MBA, MS in Data Science)

Responsibilities

• Develop and implement a comprehensive fraud program
• Lead a senior level cross-functional team to identify and mitigate fraud risks
• Define and implement a robust fraud strategy and roadmap
• Provide strategic direction around the development and maintenance of Varo’s fraud platform
• Continuously monitor and evaluate fraud trends, industry best practices, third party solutions and regulatory changes
• Act as a thought leader across the company on fraud awareness, threat detection and response to keep our customers safe
• Develop and utilize advanced analytics techniques to identify and respond in real-time to fraud patterns, emerging threat vectors and trends
• Collaborate with data scientists to develop cutting edge machine learning/AI models to mitigate fraud and enable improved good customer experiences
• Create robust dashboards and KPIs to track fraud performance and measure the effectiveness of fraud prevention strategies
• Provide leadership and direction to the fraud operations team, ensuring efficient and effective execution of fraud prevention and detection activities
• Balance fraud prevention measures with exceptional customer experiences
• Develop and execute comprehensive fraud prevention that balances the need for security with a seamless and positive customer onboarding experience
• Minimize false positives and negative impacts on legitimate customers
• Utilize Varo’s fraud platform and advanced capabilities to enable customers to safely and quickly transact across products and money movement systems
• Champion automation and efficiency initiatives to reduce manual reviews and customer complaints
• Optimize fraud detection processes and systems to improve operational efficiency and cost-effectiveness
• Build and manage a high-performing team of product managers, fraud analysts and fraud operations
• Operate rapidly in a fully cross-functional, iterative and agile fashion when responding to fraud incidents and emerging threats
• Foster collaboration and effective communication across departments (e.g. engineering, ML/AI, infosec, operations, BSA/AML, compliance, etc) to ensure alignment, planning and effective execution of fraud initiatives
• Manage third party and/or captive relationships tasked with sourcing fraud teams
• Stay up-to-date with fraud regulations and industry standards
• Conduct regular audits and risk assessments to maintain compliance

Benefits

$250,000 - $300,000 a year