New Product Approval Specialist

See more jobs from Varo Money Inc.

almost 3 years old

This job is no longer active
ABOUT VARO
Varo is an entirely new kind of bank. All digital, mission driven, FDIC insured, and designed for the way our customers live their lives.

We're on a mission to bring financial inclusion and opportunity to all hard-working Americans. Through our mobile app, we offer premium bank accounts that have no minimum balance requirement or monthly account fees, high-interest savings accounts, short term lending and solutions to help customers stretch their paycheck, build credit and start saving. Our tech-first products are designed to make money work for everyone and help customers and communities build greater financial resiliency.

Varo is distinct from other fintechs: we've made history as the first and only consumer fintech to be granted a full national bank charter by the Office of the Comptroller of the Currency (OCC).

Varo Bank represents the evolution of a new generation of banks that are born from innovation and built on technology to empower consumers and businesses.

Our team combines the best of both consumer tech and banking, and we’re wildly passionate about helping our customers. Our teams are based in San Francisco and Salt Lake City. Privately held, we’ve raised over $482M to date, from leading institutional investors and strategic partners including Warburg Pincus, The Rise Fund, Gallatin Point Capital, Harbourvest Partners, Progressive Insurance, and Russell Westbrook Enterprises.

Varo is entrepreneurial, collaborative, enthusiastic, customer-oriented, fast-paced, and multicultural.  This is an open and relatively flat organization that puts an emphasis on collaboration, sharing ideas and information. For a relatively early stage company, Varo is grounded in a strong set of values and takes pride in the diversity of its employees and board. 

Varo. A bank for all of us.

About the Risk Management Team
We’ve assembled a world-class team of risk professionals that are passionate about protecting Varo and its customers from harm.  Varo’s Enterprise Risk Management (ERM) and Operational Risk Management (ORM) programs are managed by the Head of Enterprise and Operational Risk. The New Product Approval specialist position will work closely with our Risk Management team leaders, Product team, and other key stakeholders throughout the organization in areas such as Legal, Operations, Finance, Marketing, etc. 

This is a unique opportunity to help lead the risk framework for Varo’s new products, services, and partnerships.  If you are excited by new challenges and enjoy working on and helping to create an enterprise and operations risk management framework that will serve and protect Varo and its customers, then we want to hear from you!

We're looking for an individual who will

  • Lead the New Product Approval (NPA) Program for new, modified or expanded products, services or partnership types 
  • Ensure new products are aligned with the Bank’s strategy, designed in a manner that manages and mitigates the risks associated with them, and approved by all necessary stakeholders prior to being deployed
  • Develop a strong risk partnership with risk leaders, product owners, and senior management and provide both constructive challenge and leadership in the identification and mitigation of risk issues

    • What you'll be doing

  • Engage with Product owners and/or Business Owners to determine if an NPA is required for the initiative presented
  • Guide Product owners and/or Business Owners through the NPA process from concept to discovery to execution and then finally through the post-launch retrospective
  • Review NPA forms and material content to ensure the information is complete and accurate before being presented for approval
  • Engage with product, risk leaders, and business line owners to facilitate the development of process flow diagrams for critical new processes being introduced.  
  • Ensure that risks are identified and appropriate mitigation strategies are developed.
  • Assist in capturing stakeholder pre-launch conditions and ensure all conditions are met prior to deployment
  • Track all NPA activity through each phase of the process
  • Facilitate recurring NPA meetings as well “Go/No-go” deployment decision meetings and ensure actions and decisions are well documented
  • Develop, monitor, and report on key risk indicators related to the NPA program
  • Look for ways to enhance the new products approval process
  • Test new Varo features before product launch by volunteering for scripted and real-world product testing and provide feedback and suggestions to the Product and Engineering teams

    • Required skills and experiences

  • 5-7 years of risk management experience, with banking product development experience preferred
  • Experience managing multiple stakeholders and multiple projects in a fast-paced, high volume environment
  • Strong analytical and communication skills, both written and verbal
  • A growth mindset.

    • Other nice to haves

  • High level of intellectual curiosity 
  • A passion for and dedication to mastering the details of any project
  • Scrappy and game for any task, able to adapt to quick changes in direction
    • CULTURAL ALIGNMENT
    Varo is entrepreneurial, collaborative, enthusiastic, customer-oriented, fast-paced, and multicultural.  This is an open and relatively flat organization that puts an emphasis on collaboration, sharing ideas and information. For a relatively early stage company, Varo is grounded in a strong set of values and takes pride in the diversity of its employees. 

    OUR CORE VALUES
    Customers First: Understand the problems our customers are trying to solve. Respond with a sense of urgency. Build relationships that result in loyalty. Be data and insights-driven. Test everything. Achieve results through strong execution. Build a product people love.  Assess new initiatives with the customers’ interest in mind. Act with empathy. 

    Take Ownership: Bias towards action. Have high standards. Be accountable for the results of your work, our product, our company. Trust others to own it.

    Respect: Treat others how you want to be treated. Listen first before being heard. Speak the truth even when it's not easy. Assume best intentions. Bring your full self to work.

    Stay Curious: Ask why. Dare to make things better. Learn something new each day (even from mistakes). Be open to growth. Develop creative solutions.

    Make it Better: Think big. Set high goals. Work towards long term value rather than short term wins. Create change. Be resilient.


    Varo is an equal opportunity employer. Varo embraces diversity and we are committed to building teams that represent a variety of backgrounds, perspectives, and skills. All applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.

    Learn more about Varo by following us:

    Beware of fraudulent job postings!
    Varo will never ask for payment to process documents, refer you to a third party to process applications or visas, or ask you to pay costs. Never send money to anyone suggesting they can provide work with Varo.  If you suspect you have received a phony offer, please e-mail [email protected] with the pertinent information and contact information.