Varo Money is hiring a

Compliance Analyst

San Francisco, United States
Varo is changing the future of banking with our mobile app: a frictionless bank account that also helps customers do more with their money. Varo is building a mobile bank that helps customers cover their expenses, pay their bills and build their wealth over time — so they can stop worrying about money and go live their lives. Unlike traditional banks or other fintech apps, Varo offers a complete solution with integrated deposit, budgeting, savings and lending products that help customers bank with ease and achieve better financial outcomes. There’s no reason for a bank branch on every corner anymore: all that customers need is a smartphone to bank seamlessly. Based in San Francisco and privately held, Varo has raised $78M to date, led by Warburg Pincus and The Rise Fund / TPG Growth.

Varo is committed to a culture and risk management structure that ensures compliance with applicable laws, regulations and regulatory guidance and is committed to continuous improvement.  As Varo grows, its risk management framework will incorporate the three lines of defense model.  Under this model, front line business units will own their risks and are accountable for identifying, measuring, monitoring, managing and reporting risks associated with their respective functions. The second line is comprised of independent risk managers that will assess the control environment and risk management processes.  They will assist in monitoring compliance with laws, regulations and regulatory guidance and assist with the creation and monitoring of internal guidelines that ensure compliance with external rules.  Internal audit will be the third line of defense and will be established as a separate function prior to the opening of the Bank and provide an independent assessment of the control environment and risk management processes.  For now, this function will be performed by an external auditor.  The Compliance Analyst position will be in the second line and the position will report to the Chief Compliance and Operations Risk Officer.


  • Enjoy working in an entrepreneurial environment and is a self starter who can grab responsibility and run with it;
  • Like doing analytical work; and
  • Be challenged in building a compliance framework that is in sync with business growth but provides a robust risk management framework


  • Worked in other fintech companies;
  • Experience in implementing compliance and risk management programs at a financial institution, preferably a minimum of 3-5 years in retail banking;
  • Previous experience working with the banking regulators, e.g., OCC, FDIC, Federal Reserve, CFPB; and
  • An understanding of cloud based technologies

    Nobody can be great at everything, but we’re looking for candidates who are extraordinary at:
  • Understanding and working with compliance related laws, regulations, standards, and guidelines;
  • Experience in establishing compliance and risk management controls and control testing; and
  • Strong analytical skills and experience designing reports that effectively report on issues and trends


  • Proficiency with Microsoft 365 programs, in particular, Word, Excel, and PowerPoint;
  • Demonstrated project management skills; and
  • Ability to communicate with all levels of management and staff
  • A passion for and dedication to mastering the details of any project
  • Experience managing multiple projects, in a fast-paced, high volume environment
  • Scrappy and game for any task Able to adapt to quick changes in direction
  • Demonstrates a strong sense of ownership and thought-leadership
  • A very high level of intellectual curiosity


  • Facilitating the implementation and maintenance of consumer compliance deposit, savings, and lending regulation across the Company’s various applications, systems, and operational functions
  • Support and improve the quality, accuracy and uniformity of compliance procedures, standards, controls and guidelines across all consumer deposit and lending requirements offered by Varo  
  • Review agency, and federal and state regulatory changes and document business requirements to create or enhance compliance related documents, disclosures, or application features;
  • Research regulations as required;
  • Prepare and/or modify policies, procedures, guidelines and standards to address regulatory requirements or revisions and modifications thereto;
  • Work with Varo business line members to address compliance issues and changes.  Attend meetings as necessary;
  • Analyze the impact of compliance changes and assist in determining the best implementation of compliance related requirements across the business lines, operations, product strategy, marketing, QA, training, as pertinent to the particular compliance issue;
  • Prepare analyses to assist in identifying business needs or potential compliance issues;
  • Work with business lines to develop control testing to verify adequacy of compliance related controls, standards and guidelines;
  • Maintain internal compliance documentation on-line in a centralized location so it can be referred to by Varo employees;
  • Assist in performing compliance related risk assessments and gap analysis; and
  • Assist with the assessment of new and existing third-party service providers  
  • Track the delivery of applicable documentation
  • Provide guidance re: monitoring of third party service provider services.

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