Full-Time
Head of FP&a
Posted on 11/19/2024
Varo
501-1,000 employees
Digital banking with fee-free services
Compensation Overview
$200k - $225kAnnually
Senior
Remote in USA
- Bachelor's degree in finance or related discipline (CFA a plus)
- 7+ years experience in FP&A, Strategic Finance, Investment Banking, or Corporate Development
- Strong work ethic with an ability to focus on complex financial problems; surgically strong detail orientation and commitment to accuracy
- Experience in streamlining processes and understanding the bigger picture
- Experience in building a strong motivated team in a high-paced environment
- Ability to acquire new skills and adapt to or implement technology evolution such as the use of AI in forecasting
- Experience with data management and/or financial information systems, preferably with Anaplan
- Previous experience in neo-banking, financial services, retail, and/or commercial banking is required
- Develop a top-in-class forecasting and planning function (FP&A) while executing the company's financial strategy as a critical member of Varo’s leadership team
- Partner with key departmental stakeholders to provide financial and analytical support, including, but not limited to, Operations, Product, Technology, Risk, etc.
- Develop and prepare annual, quarterly, monthly, and ad-hoc financial and KPI reporting for executives, investors, and regulators (including required regulatory reporting)
- Partner with the Accounting function for an efficient and well-supported financial close
- Help to create, maintain, and support Varo’s dynamic business plan and financial forecasts
- Lead business performance discussions and driver-based flux analysis on a monthly basis
- Drive Varo’s expansion strategy supporting product launches, market entry, partnerships, and M&A activities
- Additional responsibilities as deemed appropriate for the role and growth of the finance team
Varo Money provides digital banking services aimed at individuals looking for accessible and affordable banking options. The company offers a fee-free banking experience, which sets it apart from traditional banks that often impose various fees. Customers can benefit from services such as receiving their paychecks up to two days early through direct deposit, cash advances of up to $500 without interest, and a credit-building service that has helped users increase their credit scores by an average of 40 points in three months. Varo is an independent bank with its own banking charter, ensuring that all deposits are FDIC-insured up to $250,000. The goal of Varo is to create a more inclusive banking environment that prioritizes customer needs and financial well-being.
Company Stage
N/A
Total Funding
$1B
Headquarters
San Francisco, California
Founded
2015
6 month growth
↓ -2%1 year growth
↓ -6%2 year growth
↓ -12%
Simplify's Take
What believers are saying
- Varo's inclusion in Inc.'s 2023 Best in Business list for the third consecutive year highlights its strong reputation and industry recognition.
- The introduction of the 'Varo to Anyone' P2P feature positions Varo as a competitive alternative to popular services like Venmo and Cash App.
- Varo's credit-building service, which has shown to increase credit scores by an average of 40 points in three months, offers significant long-term financial benefits for customers.
What critics are saying
- The competitive fintech landscape, with major players like Chime and traditional banks entering the digital space, could challenge Varo's market share.
- Rapid expansion and the introduction of new features may strain Varo's operational capabilities and customer service.
What makes Varo unique
- Varo's fee-free banking model sets it apart from traditional banks that often charge various fees, making it a more attractive option for cost-conscious consumers.
- The early payday feature, allowing customers to receive their paychecks up to two days early, provides a significant advantage for those living paycheck-to-paycheck.
- Varo's independent banking charter and FDIC insurance up to $250,000 ensure a high level of security and trust for its customers.
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