Full-Time
Engineering Manager
Banking
Posted on 6/25/2024
Varo
501-1,000 employees
Digital banking with fee-free services
Compensation Overview
$180k - $220kAnnually
Senior, Expert
Remote in USA
- 8+ years of industry experience in software development leading large and strategic high-impact areas in business.
- 2+ years of experience directly managing a team of engineers.
- Technical leadership and ownership in bringing multiple engineering functions to production.
- Production experience with scalable, and distributed systems.
- Strong sense of ownership, accountability, and autonomy.
- Ability to work with a wide breadth of stakeholders/partners through product management, data science, design, security, etc.
- Experience in hiring, coaching, and retaining strong engineering talent.
- Define scope, design, build, and evolve business-critical and customer-facing banking products.
- Help support your system in production and investigate and fix bugs throughout our entire stack.
- Collaborate with other engineering teams and leaders in product management, data science, and design to execute effectively on business goals.
- Define your team roadmap and vision following the company and department goals.
- Mentor and coach your team to help them grow, and hire new exceptional talent when needed.
- Shape the culture of your team to foster innovation, ownership, accountability, urgency, and a customer-first mindset.
- Be at the service of your team and be a problem solver to help them move faster and achieve bigger goals.
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 operates as 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
Series E
Total Funding
$996.3M
Headquarters
San Francisco, California
Founded
2015
6 month growth
↓ -3%1 year growth
↓ -6%2 year growth
↓ -13%
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.