Treasury Manager, Varo
$100-160k
+ Eligible for a bonus & equity
Fee-free online banking platform
Open for applications
Fee-free online banking platform
501-1000 employees
Open for applications
$100-160k
+ Eligible for a 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
- Bachelor’s degree in Finance, Accounting or Economics, Masters or CFA preferred
- 5+ Years Treasury experience at a Bank
- Experience managing cash and liquidity, fixed income investments, and interest rate risk
- Knowledgeable with statistical methods
- Strong knowledge of MS Excel, Python, SQL, Bloomberg
- Self starter and curious person, looking for career growth
- We recognize not everyone will have all of these requirements. If you meet most of the criteria above and you’re excited about the opportunity and willing to learn, we’d love to hear from you!
What the job involves
- Varo's Finance team is a small, agile group driving the bank's entire financial strategy. We combine rigorous financial management—from capital raising to regulatory reporting—with a creative, customer-obsessed startup culture to build a better, more intuitive bank
- Leading the Asset Liability Management strategy by helping manage and forecast the firm’s cash & liquidity position, capital, investments and funding needs to support our growth
- Manage and report on the risk metrics for liquidity, interest rate risk and capital management
- Develop and run cash flow, balance sheet, and interest rate risk models to optimize and manage the liquidity, capital and interest rate risk of the firm within risk appetite
- Manage the firm’s investment portfolio (primarily Agency MBS, Agency Bullets, Treasuries, CRA, and interest rate hedges) including trading, settlement, and collateral movement
- Contributing to the banks forecasting and stress testing for liquidity and capital purposes
- Leading the Banks Asset Liability Committee meetings including preparing material and leading discussions
- Presenting to the bank’s executives and board of directors quarterly or as needed
- Coordinating with the other key finance partners in accounting and FP&A
- Ad-hoc requests and analysis as needed
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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