Director of Data Science, Varo
$200-280k
Salary dependent on location
Fee-free online banking platform
Open for applications
Fee-free online banking platform
501-1000 employees
Open for applications
$200-280k
Salary dependent on location
501-1000 employees
Company mission
To improve the financial health of our customers through better technology and total transparency.
Role
Who you are
- 8+ years of experience in Data Science, Applied Science or Software Engineering as an individual contributor. You will need to flex in your role across IC and manager capabilities
- An advanced degree in a quantitative field - computer science, engineering, statistics, operations research, economics, etc
- Demonstrated impact and leadership in at least one area (acquisition / engagement, fraud, lending, operations) combined with exposure to others
- Experienced in using Python for analysis and modeling, applying a wider range of statistical techniques to large data sets
- Prior experience with Generative Artificial Intelligence is nice to have
What the job involves
- You will lead Varo’s Data Science team under the umbrella of Varo’s Data organization, spanning Data Analytics, Data Science, Data Product Management, Data Engineering and ML Engineering
- Collectively our objective is to enable and catalyze decision making across Varo’s key verticals (acquisition / engagement, fraud, lending, operations) using data
- The Data Science team works closely with business stakeholders to understand the commercial problems to be addressed, deploys appropriate machine learning and causal inference methodology to develop solutions, and partners with engineering stakeholders to deploy those solutions
- If you are interested in working with an impressive team of Data pros who collaborate and challenge each other, and want to solve interesting problems to propel the company’s growth
- Be responsible for owning and driving Varo’s Data Science efforts (roadmap planning, stakeholder engagement, delivery) across artificial intelligence, machine learning, and causal inference
- Develop custom models to drive commercial outcomes spanning all of Varo’s verticals, as well as, processes for monitoring and analyzing their performance
- Assess the effectiveness and accuracy of new data sources and data gathering techniques
- Understand and apply proper risk framework to your analysis and modeling
- Work with stakeholders throughout the organization to identify opportunities for leveraging data to drive business decisions
- Collaborate cross functionally to implement models and monitor outcomes
Our take
The traditional banking system leaves many US citizens underserved, with some minority groups struggling to access accounts. Varo is one of many companies offering no-fee, high-interest accounts, as it takes on the traditional banks - with additional features such as a rewards program and access to early paychecks.
With many young customers distrustful of traditional banks, Varo has capitalised on this sentiment and grown to serve more than 7 million customers. It has a number of competitors such as Chime and Step, and it's also in competition with established traditional brick-and-mortar banks. However, as the first consumer fintech to be granted a national bank charter in the US, the company is at the front of the fintech revolution with a path to future success.
In response to economic uncertainty, the bank was forced to take cost-reduction measures throughout 2022. The effect has been positive, with a drastic reduction in its burn rate, which had been a primary concern. One point of interest is a shift in marketing strategy that has seen Varo focus more on growing the number of customers using it as their main bank, as opposed to growing overall user numbers. The company also has a new tech unit named "Varo Tech".
Kirsty
Company Specialist
Insights
Few candidates hear
back within 2 weeks
-12% employee growth in 12 months
Company
Funding (last 2 of 7 rounds)
Feb 2023
$50m
LATE VC
Sep 2021
$515m
SERIES E
Total funding: $1.0bn
Company benefits
- Health, dental, vision insurance
- Free life coaching and counseling
- 401k
- Office snacks and drinks
- Flexible PTO
- Company and team outings
Company values
- Customer first: Understand problems our customers are trying to solve. Respond with a sense of urgency. Build relationships that result in loyalty. Be data and insights-driven. Test everything. Achieve results through strong execution. Build a product people love.
- Take ownership: Have a bias toward action and high standards. Be accountable for the results of your work and our product. Trust others to own it.
- Stay curious: Ask why. Dare to make things better. Learn something new each day (even from mistakes). Be open to growth. Develop creative solutions.
- Make it better: Think big. Set high goals. Work toward long-term value rather than short-term wins. Create change. Be resilient.
- Respect: Treat others how you want to be treated. Listen first before being heard. Speak the truth even when it’s not easy. Assume best intentions. Bring your full self to work.
Company HQ
Financial District, San Francisco, CA
Articles
Founders
Colin Walsh
(CEO)Former EVP at American Express. Has also worked in banking at Wells Fargo, Visa, Executive Networks, and Lloyds.
Salary benchmarks
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Diversity & Inclusion at Varo
- Varo takes a long-term, strategic approach to Diversity and Inclusion. We’re committed to building long term awareness and engagement with employees at all levels, our customers, and our communities. We grow and strengthen the Varo team by acquiring, developing, promoting, and retaining exceptional and diverse talent.
- Voluntary employee-led resource groups let us connect with each other, boost engagement, and keep important conversations going. Our groups include; "Women", that aims to increase women’s leadership roles, hiring and retention; "Adept", that sustains Varo’s efforts to support employees with physical, mental, and emotional disabilities; "Unity", that works to advance representation and opportunity for Black and African American employees; and "Pride", that helps us build a fully inclusive workplace offering education, support, and networking for LGBTQ employees.
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