Compliance Officer, Varo
Marketing & Advisory
$70-120k
+ Bonus + Equity
Fee-free online banking platform
Be an early applicant
Fee-free online banking platform
501-1000 employees
Be an early applicant
$70-120k
+ Bonus + Equity
501-1000 employees
Company mission
To improve the financial health of our customers through better technology and total transparency.
Role
Who you are
- We’re looking for someone who has a growth mindset, is a self-starter, and enjoys a fast-paced working environment
- Consumer compliance experience with deposits and/or open-end credit in the Banking/ FinTech space
- Ability to communicate positively with members of various internal teams and regulators
- Experience providing compliance advice to all levels of management
- A passion for and dedication to detail
- Proven track record of managing multiple projects in a fast-paced, high-volume environment
- Demonstrate a strong sense of ownership and thought-leadership
- Regulatory knowledge and interpretation skills in a technology environment
- Great writing skills-crafting creative solutions with marketing partners
- Working knowledge of a Compliance Management System
- CRCM is preferred, but not required
What the job involves
- As the Compliance Officer, Marketing & Advisory, you will be critical to delivering exceptional products and marketing materials, while ensuring compliance with applicable consumer protection requirements
- This person will have a strong handle on consumer compliance regulations and product development in a financial services environment, and enjoys working creatively to solve business problems in a compliant manner
- This is a great opportunity to join the compliance team at the first all-digital bank to receive a national banking charter
- Collaborate with Marketing and Product teams to understand new products to review advertising and marketing materials for compliance with applicable laws, including Reg DD, Reg Z, Privacy laws including TCPA, and UDAAP
- Collaborate with Marketing on development and maintenance of the Compliance Marketing Guidelines, which operates as the Bank’s guide for marketing and advertising materials
- Review and edit marketing and advertising copy for social media, print, billboards, radio, TV, and marketing partnerships to ensure compliance with applicable regulations, including Reg DD, Reg Z, UDAAP/UDAP, FCRA, TCPA, etc
- Advise the business on compliance requirements and related controls Collaborate with the Product and Operations teams on the development of products, services, and processes to build compliance into the products from the start
- Review and edit FAQs, procedures, and training programs related to deposit and lending products and services
- Perform analysis, reporting, determine root cause, and report periodically, with a focus on identifying patterns and areas of improvement within Compliance and business partners that could lead to customer harm
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 at Welcome to the Jungle
Insights
-12% employee growth in 12 months
Company
Funding (last 2 of 8 rounds)
Feb 2025
$29m
SERIES G
Feb 2023
$50m
LATE VC
Total funding: $1.1bn
Company benefits
- Health, dental, vision insurance
- Free life coaching and counseling
- 401k
- Office snacks and drinks
- Flexible PTO
- Company and team outings
Company HQ
Financial District, San Francisco, CA
Leadership
Colin Walsh
(CEO)Former EVP at American Express. Has also worked in banking at Wells Fargo, Visa, Executive Networks, and Lloyds.
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