Director of Fraud

Salt Lake City

Varo is a digital bank for the millions of ambitious, responsible millennials who are hands-off with their money and want a bank that’s going to work for them. We’re building a banking app that helps our customers cover their expenses, pay their bills, and build their wealth over time—so they can stop worrying about their money and get on with living their lives. Unlike traditional banks or other fintech apps, Varo is an all-in-one solution with frictionless, integrated checking, budgeting, savings, and lending products that actually help our customers solve their money problems and achieve better financial outcomes.

The Position:
Varo Money is looking for an experienced professional with knowledge of consumer fraud and a passion and commitment to service excellence and outstanding customer focus.  You will be responsible for managing anti-fraud strategies - detection, prevention, policies and procedures for the consumer base banking products business, both deposit and lending.  Varo Money is building products that will fundamentally change the way consumers use mobile banking products and revolutionize the banking system as we know it. Varo Money is looking for candidates who will apply the same level of zeal for innovation and creativity to the development of anti-fraud solutions. You will collaborate across a number of teams internally -- to include product, platform engineering, operations, marketing, finance, risk, compliance and legal to ensure Varo Money’s risk platform is best in class.

About Varo Money
Varo has developed an innovative mobile banking experience that will allow consumers to easily and intuitively manage one of the most important relationships in their lives, their relationship with their money.  Using artificial intelligence, Varo will help users manage their money across all their financial accounts, whether they are at Varo or any other bank.
Mission: Varo Money Inc. is a financial technology company founded on the belief that there is a better way to bank that will help improve the financial outcomes of a generation of consumers often overlooked by traditional banks.

In this role, you will be responsible for...

    • Analyzing fraud/risk processes and controls, manage projects, oversee fraud risks associated with Varo Money’s consumer product offerings, both deposit and lending.
    • Performing necessary risk assessments and determine threat management protocols.
    • Overseeing the day to day operations of the Fraud Prevention department.
    • Collaborating with Varo product managers to build and deploy fraud tools, technologies and integrations.
    • Implementing third party fraud mitigation systems to reduce fraudulent transactions.
    • Developing fraud analytics and reporting.
    • Designing and maintain risk dashboard and ongoing reporting of fraudulent activity.
    • Coordinating fraud investigations internally and with external law enforcement when necessary.
    • Ensuring compliance with applicable laws and regulations and implement a change management process.
    • Analyzing and keeping abreast of internal/external fraud developments and trends. 
    • Developing and maintaining Varo Money’s fraud policies.

In this role, we require you to have...

    • Experimental mindset driving to continuously improve Varo’s fraud prevention program in the face of evolving threats.
    • Experience with information security risks and control.
    • Experience building effective fraud prevention programs - both software and teams.
    • Experience with data science models and techniques.
    • Strong understanding of ACH, banking systems, and debit/credit card networks.
    • Comfort with a fast-paced environment and changing requirements.
    • Strong influencing and presentation skills and the ability to work independently.
    • Positive ‘can do’ attitude with the initiative to do what needs to be done to best manage the department.
    • Strong analytical and problem solving skills.
    • Excellent verbal and written communication skills with strong attention to detail. 

In this role, preferred skills are...

    • 7-10 years of business experience. 
    • Technical knowledge of various systems related to fraud and AML, etc.
    • MBA degree, or equivalent work experience.
    • Experience working with Agile teams.
    • Proficiency in Word, Excel, and online research tools.
    • Certified Fraud Examiner (CFE) or any other professional designations is a plus.

Join our growing Varo Money team!  Help us build the next-generation mobile consumer banking experience. Give millions of people the tools they need to achieve financial freedom and security.

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