Head of Fraud

Fraud is a growing and evolving threat to financial institutions. As technology advances, fraudsters become increasingly sophisticated, making it imperative to develop robust strategies to protect customers and mitigate risk.

You can get further details about the nature of this opening, and what is expected from applicants, by reading the below.

Varo is seeking a visionary and highly skilled Head of Fraud to lead Varo’s effort in combating fraud at Varo and be seen as a pace setter in the industry.

The ideal candidate will possess a deep understanding of fraud trends and methodologies, coupled with strong analytical skills and a proven track record of success collaborating with executive leadership and cross-functional teams.

This role will require a strategic growth mindset, a passion for innovation, disciplined execution and the ability to hire, inspire, and lead high quality, senior-level, technical, and operational talent to stay ahead of emerging threats.

As the Head of Fraud , you will be responsible for developing and implementing a comprehensive fraud program that will continue to evolve and keep pace with emerging trends and threats.

You will lead a senior level cross-functional team to identify and mitigate fraud risks, optimize operational efficiency, and deliver exceptional customer experiences.

This will be a highly visible leadership role with direct interaction with executive leadership and the board.

Develop and Execute Fraud Strategy

• Define and implement a robust fraud strategy and roadmap that aligns with Varo's overall business objectives.
• Provide strategic direction around the development and maintenance of Varo’s fraud platform, including rules, models, and detection systems (both internally developed and third party).
• Continuously monitor and evaluate fraud trends, industry best practices, third party solutions and regulatory changes.
• Act as a thought leader across the company on fraud awareness, threat detection and response to keep our customers safe.

Leverage Data and Analytics

• Develop and utilize advanced analytics techniques to identify and respond in real-time to fraud patterns, emerging threat vectors and trends.
• Collaborate with data scientists to develop cutting edge machine learning / AI models to mitigate fraud and enable improved good customer experiences.
• Create robust dashboards and KPIs to track fraud performance and measure the effectiveness of fraud prevention strategies.

Oversee Fraud Operations

Provide leadership and direction to the fraud operations team, ensuring efficient and effective execution of fraud prevention and detection activities.

Enhance Customer Experience

• Balance fraud prevention measures with exceptional customer experiences.
• Develop and execute comprehensive fraud prevention that balances the need for security with a seamless and positive customer onboarding experience.
• Minimize false positives and negative impacts on legitimate customers.
• Utilize Varo’s fraud platform and advanced capabilities to enable customers to safely and quickly transact across products and money movement systems.

Drive Operational Efficiency

• Champion automation and efficiency initiatives to reduce manual reviews and customer complaints.
• Optimize fraud detection processes and systems to improve operational efficiency and cost-effectiveness.

Lead a Cross-Functional Team

• Build and manage a high-performing team of product managers, fraud analysts and fraud operations.
• Operate rapidly in a fully cross-functional, iterative and agile fashion when responding to fraud incidents and emerging threats.
• Foster collaboration and effective communication across departments (e.g. engineering, ML / AI, infosec, operations, BSA / AML, compliance, etc) to ensure alignment, planning and effective execution of fraud initiatives.

Build new capabilities leveraging cutting edge tech and machine learning / AI models and leverage industry leading solutions.

Manage third party and / or captive relationships tasked with sourcing fraud teams.

Ensure Compliance

• Stay up-to-date with fraud regulations and industry standards.
• Conduct regular audits and risk assessments to maintain compliance.
• Document and maintain comprehensive fraud strategy, rule, and model documentation.

You bring the following required skills and experiences

• Proven experience in leading fraud strategy and operations within a fintech or financial services organization.
• Deep understanding of fraud prevention techniques, tools, technologies, industry best practices, and regulatory requirements.
• Strong analytical skills and ability to leverage data to drive decision-making.
• Experience in building and managing high-performing cross-functional teams.
• Excellent communication and interpersonal skills.
• Advanced degree or commensurate experience in a relevant field (e.g., MBA, MS in Data Science).

$250,000 - $300,000 a yearFor cash compensation, we set standard ranges for all US-based roles based on function, level, and geographic location, benchmarked against similar-stage growth companies.

Per applicable law, the salary range for this role is $250,000 - 300,000. Final offer amounts are determined by multiple factors as well as candidate experience and expertise and may vary from the identified range.

J-18808-Ljbffr