Senior Data Scientist, Varo Bank
Machine Learning
$130-180k
Fee-free online banking platform
Open for applications
Fee-free online banking platform
201-500 employees
Open for applications
$130-180k
201-500 employees
Company mission
To bring financial inclusion and opportunity to all.
Role
Who you are
- An advanced degree in a quantitative field - computer science, engineering, statistics, operations research, economics, etc
- 4+ years of experience as a Data Scientist, Machine Learning Scientist, or Research Scientist as an individual contributor, including but not limited to relevant experience from your PhD research
- Experience applying a wide range of statistical techniques to large data sets, and understanding their real-world advantages/drawbacks
- Experienced in using Python for analysis, modeling, and visualization (numpy, pandas, scikit, nltk, matplotlib, etc.)
- Ability to thrive in a fast-paced environment
- Strong bias for action and team player
- Preferred: Familiarity with Sagemaker, Spark, TensorFlow, Keras, and PyTorch
What the job involves
- Varo’s Data Science Team develops Machine Learning models that make it easier for the right people to get access to funds, help protect customers from fraudsters, and transform the in-app experience with real-time recommendations
- Unlike some organizations where data takes a support role, here at Varo data science is front and center. Since we are in hyper-growth mode, you will get to work on the most impactful data science problems from day one. We rely on advanced techniques in machine learning, cloud platforms, and data technology
- We’re a team of PhDs and ex-academics with a collegial work atmosphere. 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, apply now!
- Develop production-grade ML algorithms, such as fraud detection algorithms, recommender systems, dynamic credit risk models, and large-scale causal inference models, as well as processes for monitoring and analyzing their performance
- Leverage large data sets from different sources, and use modern modeling techniques such as tree-based methods, neural networks, and reinforcement learning to increase and optimize customer experiences, customer acquisition, underwriting, and other business outcomes
- Work with stakeholders throughout the organization to identify opportunities for driving business decisions or improving our product suite with ML
- Collaborate cross-functionally with the engineering team to deploy models and monitor outcomes
Our take
The traditional banking system leaves many US citizens underserved, with some minority groups struggling to access accounts. Varo Bank 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 capitalized on this sentiment and grown to serve more than 7M customers. It does have a number of competitors, including 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 ongoing economic uncertainty, the bank implemented cost-reduction measures throughout 2022, delivering a meaningful turnaround. These actions significantly reduced its burn rate, addressing a key area of concern. Notably, a refined marketing strategy has also emerged, with Varo prioritizing customers who use the platform as their primary bank rather than simply expanding overall user numbers, putting the company in a position for more sustainable, long-term growth.
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
- Employee stock plan
- Mental health resources
- Volunteer time-off
- PerkSpot discounts
- Flexible time off
- Comprehensive health plans
- Parental and family leave
- Retirement savings plan
- Education stipend
Company HQ
Financial District, San Francisco, CA
Leadership
Gavin Michael
(CEO)Prior to Varo Bank, Gavin spent 5 years at Bakkt as a Senior Advisor and CEO. He was also the Head of Technology, at Citi, Head of Digital at Chase, and CIO at Accenture.
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