Full-Time
Credit Strategy Manager
Consumer Lending
Confirmed live in the last 24 hours
Varo
501-1,000 employees
Digital banking with fee-free services
Compensation Overview
$110k - $130kAnnually
Mid
Remote in USA
- 2+ years in analytics
- 2+ years working with consumer credit products
- Proficiency in SQL, Python, and BI tools
- Strong analytical skills with expertise in handling and analyzing large datasets to solve complex business challenges
- Experience in using models developed by data scientists to enhance business decisions
- Familiarity with new product development and growth strategy implementation
- Demonstrated success in fast-paced, entrepreneurial, and dynamic environments
- Strong presentation skills, with the ability to effectively communicate data and logic to diverse audiences
- Leverage data and analytics to deliver insights on Varo Bank’s lending business, guiding credit performance and growth strategies to support underwriting capabilities and the overall profitability of the business
- Partner with data science teams to develop advanced machine learning models that drive loan origination and portfolio management strategies
- Design, implement, and manage credit risk strategies, including credit underwriting, pricing, loan assignment, and verification based on default probability assessments
- Craft and present compelling insights to influence executive-level lending decisions
- Work with the 2nd line team to ensure credit strategies align with the bank’s risk appetite and achieve desired outcomes
- Identify trends in performance, growth, and risk by developing and maintaining monitoring reports, including insights into internal and external leading indicators
- Collaborate with technology teams to ensure that new strategies are accurately implemented as designed
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
Late Stage VC
Total Funding
$1B
Headquarters
San Francisco, California
Founded
2015
6 month growth
↓ -2%1 year growth
↓ -2%2 year growth
↓ -12%
Simplify's Take
What believers are saying
- Varo benefits from the rise of Gen Z and Millennials seeking digital banking.
- Increased focus on financial inclusion aligns with Varo's accessible banking mission.
- Open banking regulations enable Varo to offer personalized and competitive services.
What critics are saying
- Competition from fintech companies like Chime could challenge Varo's market share.
- New regulatory guidelines may require Varo to alter partnerships and strategies.
What makes Varo unique
- Varo offers fee-free banking, unlike traditional banks with various fees.
- Varo's early payday feature provides access to paychecks up to two days early.
- Varo's credit-building service helps customers improve credit scores by 40 points in three months.
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