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.
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 objectivesProvide 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 trendsCollaborate with data scientists to develop cutting edge machine learning/AI models to mitigate fraud and enable improved good customer experiencesCreate 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 activitiesEnhance 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 complaintsOptimize 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 operationsOperate rapidly in a fully cross-functional, iterative and agile fashion when responding to fraud incidents and emerging threatsFoster 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 solutionsManage 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)
