Varo Bank seeks a highly motivated and passionate Senior Analyst to join our thriving team and contribute to the advancement of Model Risk Management. The ideal candidate will possess expertise in Model Risk Management methodologies and techniques, proficiency in programming languages and Data Science tools, and exceptional analytical and problem-solving skills. As part of our dynamic team, you will collaborate across various departments to ensure Varo Bank's Model Risk Management framework remains robust and fit for purpose. Join Varo Bank, the pioneering TechBank that is revolutionizing the banking industry, and become part of our mission to fundamentally change the way consumers use mobile banking products.
What you’ll do:
- Contribute to our second line of defense Risk Management team
- Conduct and oversee independent validation for all models
- Support the Head of Model Risk Management through a combination of tasks, including conducting validation of some models directly and managing external vendors for other model validation activities
- Demonstrate meticulousness in model validation, covering all aspects, including model documentation, data preparation/integrity, review of advanced modeling techniques, application, and usage
- Compile concise validation reports and manage the findings/follow-ups
- Maintain Policy and Standards related to Model Risk Management
- Ensure Model Inventory is consistently up-to-date
- Manage Key Risk Indicators pertaining to Model Risk and report to the Enterprise Risk Committee
- Proactively escalate key emerging risks and assist in mitigation strategies
- Strike a balance between fostering innovation for a TechBank while adhering to all regulatory requirements
You’ll bring the following required skills and experiences:
- 1-4 years of experience in Data Science / Statistical Modeling
- 1+ years of experience in Model Risk Management and knowledge of SR 11/7 guidelines related to Model Risk
- Strong analytical skills with the ability to pull and analyze large datasets in solving complex business problems
- Ability to collaborate with multiple stakeholders is a key skill to be successful in this role
- Strong documentation skills, and ability to write succinct technical reports
- Excellent verbal and written communication skills with strong attention to detail
- PhD / MS in one of the following areas - Maths, Engineering, Economics, Physics, Operations Research or any other quantitative discipline
- Technical knowledge of different types of models used in consumer finance - GBM, XGBoost, traditional regression models, time series techniques ect.
- Appreciation of regulatory requirements while supporting industry-leading innovation
- Self starter, proactive thinker on emerging risks, and positive ‘can do’ attitude with the initiative to do what needs to be done to best meet our business objectives
- Experience with programming languages such as R and Python
- Experience with data visualization tools such as Tableau or PowerBI
- A strong understanding of statistical concepts
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!
We are currently not accepting applicants for this role from CA, CO, WA, IL, or NY.
About Varo
As the first consumer fintech to be granted a national bank charter in 2020, we make financial inclusion and opportunity for all a reality by empowering everyone with the products, insights, and support they need to get ahead. Through our core product offerings and suite of customer-first features, we aim to address a broad range of consumer needs while profitably serving underserved communities that have been historically excluded from the traditional financial system.
We are growing quickly in our hub locations of San Francisco, Salt Lake City, and Charlotte along with colleagues located across the country. We have been recognized among Fast Company’s Most Innovative Companies, Forbes’ Fintech 50, and earned the No. 7 spot on Inc. 5000’s list of fastest-growing companies across the country.
Varo. A bank for all of us.
Our Core Values
- Customers First
- Take Ownership
- Respect
- Stay Curious
- Make it Better
Learn more about Varo by following us:
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.
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