Varo Money is hiring a

Head of Fraud

Full-Time
Remote
Fraud is a growing and evolving threat to financial institutions.  As technology advances, fraudsters become increasingly sophisticated, making it imperative to develop robust strategies to protect customers and mitigate risk. 

Varo is seeking a visionary and highly skilled Head of Fraud to lead Varo’s effort in combating fraud at Varo and be seen as a pace setter in the industry.  The ideal candidate will possess a deep understanding of fraud trends and methodologies,coupled with strong analytical skills and a proven track record of success collaborating with executive leadership and cross-functional teams.  This role will require a strategic growth mindset, a passion for innovation, disciplined execution and the ability to hire, inspire, and lead high quality, senior-level, technical, and operational talent to stay ahead of emerging threats.

As the Head of Fraud, you will be responsible for developing and implementing a comprehensive fraud program that will continue to evolve and keep pace with emerging trends and threats. You will lead a senior level cross-functional team to identify and mitigate fraud risks, optimize operational efficiency, and deliver exceptional customer experiences. This will be a highly visible leadership role with direct interaction with executive leadership and the board. 

Develop and Execute Fraud Strategy

  • Define and implement a robust fraud strategy and roadmap that aligns with Varo's overall business objectives
  • Provide strategic direction around the development and maintenance of Varo’s fraud platform, including rules, models, and detection systems (both internally developed and third party)
  • 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

Leverage Data and Analytics

  • 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

Oversee Fraud Operations

  • Provide leadership and direction to the fraud operations team, ensuring efficient and effective execution of fraud prevention and detection activities

Enhance Customer Experience

  • 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

Drive Operational Efficiency

  • 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

Lead a Cross-Functional Team

  • 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. Build new capabilities leveraging cutting edge tech and machine learning/AI models and leverage industry leading solutions
  • Manage third party and/or captive relationships tasked with sourcing fraud teams

Ensure Compliance

  • Stay up-to-date with fraud regulations and industry standards.
  • Conduct regular audits and risk assessments to maintain compliance.
  • Document and maintain comprehensive fraud strategy, rule, and model documentation

You bring the following required skills and experiences

  • 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)

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