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 Varos 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)

Head of Fraud

Varo Money