Full-Time
Business Analytics and Development Consultant
Confirmed live in the last 24 hours
Varo
501-1,000 employees
Digital banking with fee-free services
Fintech
Financial Services
Compensation Overview
$50 - $75Hourly
Senior
Remote in USA
Category
Strategy Development
Business Development
Business & Strategy
Required Skills
SQL
Tableau
Data Analysis
Requirements
- Payments Industry Expertise.
- Deep understanding of financial and technical aspects of debit and credit payments, specifically interchange revenue as well as cost lever.
- Retail banking and consumer products experience with focus on, including digital banking, checking, and savings.
- Quantitative Analysis: Proficient in building advanced financial models and performing detailed forecasting and sensitivity analysis for product and payments decisions and optimizations. Strategic Deck Production: Producing high-quality strategic presentations, making recommendations based on data analysis, and effectively communicating insights as proposals to senior stakeholders as well as the wider bank.
- Technical Proficiency: Advanced skills in SQL for data extraction, Tableau for data visualization, and Excel for financial modeling.
- Business Development Focus: Strong commercial focus on maximizing revenue and enhancing customer experience through product and service enhancements.
- Strategy Consulting Experience: Prior Experience in strategy consulting (e.g., McKinsey, BCG, Bain) is a big plus, particularly deep exposure to the financial services and payments sectors with knowledge of the consumer fintech space
- Hands-on Approach: Willingness to roll up sleeves and dive deep into working with data, perform detailed analysis, and translate findings into strategic recommendation proposals.
- Ideal Candidate Profile: 5+ years of experience in business development, financial analysis, strategy consulting, with a focus on consumer banking and payments industry. Demonstrated deep expertise in consumer banking products, interchange dynamics, and previous instances of optimizing revenue and costs.
- Proven ability to produce compelling strategy decks and recommendations based on thorough quantitative analysis.
- Previous experience in a top-tier consulting firm with a focus on FinTech, wider financial services and payments sectors is highly desirable.
Responsibilities
- Evaluate opportunities to enhance Varo Bank’s consumer banking and payment services with a focus on commercial impact and customer value.
- Analyze data and build sophisticated financial models and conduct in-depth quantitative analysis to influence product and service enhancements.
- Analyze payments products with a focus on interchange dynamics, including revenue drivers and cost factors affecting profitability.
- Develop deep insights into interchange economics and their impact on Varo’s overall financials, identifying opportunities to optimize revenue and cost of interchange at the utmost detailed level.
- Collaborate with cross-functional teams to align payments and banking strategies with more granular commercial goals.
- Produce strategic decks to communicate analysis, insights, and recommendations to senior leadership, ensuring compelling and data-driven storytelling.
- Extract and analyze raw data using SQL and Tableau to provide actionable insights for product and business decisions.
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
Growth & Insights
Headcount
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.
Help us improve and share your feedback! Did you find this helpful?