Applications Manager (Customer Identification Program)

Varo is an entirely new kind of bank. All digital, mission-driven, FDIC insured and designed for the way our customers live their lives. A bank for all of us.

As an Applications Manager, you will be responsible for verifying the identity of customers (Customer Identification Program “CIP”) to a practicable extent, in compliance with Operations and Financial Crimes Procedures, such that the Bank has formed a reasonable belief that it understands the true identity of the Customer. Varo Bank relies on both documentary and non-documentary methods to verify the identity of Customers and may require additional information during the application process to ensure that the Bank has successfully identified customers at application. This position will be responsible for conducting comprehensive manual application reviews. This role supports the development and execution of early upstream fraud detection and prevention and supports the Bank’s regulatory compliance. The position plays a critical role in identity verification by conducting daily reviews of incoming applications, supporting document validation, and thoroughly documenting all decisions.

What you will be doing

• Manage an international team responsible for reviewing consumer account applications 
• Work closely with offshore partners to ensure application review process is aligned to the Operations and Financial Crimes department's expectations
• Oversee a process responsible for reviewing and remediating CIP flags and identity verification documents (US Driver’s licenses, passports, etc.) 
• Oversee due diligence and research to resolve CIP flags, and/or support the team in requesting additional supporting documentation from the customer when appropriate
• Work closely with Operations Quality Department and Financial Crimes Testing to ensure exceptions are reviewed timely and corrective actions are remediated
• Guide the team on identifying and declining applications that fail to meet the Bank’s established standards
• Identify trends and quality metrics within operational queues and work with business partners to enhance the process
• Responsible for maintaining procedures adhering to internal policies and coordinating with the Second Line of Defense (SLOD) as needed
• Capture trends and support recommendations for enhancing best practices and operating standards
  

You will bring the following required skills and experiences

• 3 years of experience executing US Customer Identification Programs subject to the Bank Secrecy Act, prior US financial institution experience preferred
• 3 years of experience reviewing and validating identification documents with a focus on US Driver’s Licenses, State IDs, and passports (US and international)
• Experience in anti-money laundering (AML) preferred
• Ability to multitask, and establish priorities with attention to detail in a fast-changing environment
• Previous experience with Account Originations, fraud detection, mitigation efforts, and investigative practices
• Proven ability to accurately and consistently execute against written procedures
• Technical knowledge to include the use of 3rd party tools, and an ability to assess data analytics supporting account level review and appropriate decisions
• Collaborative work style and ability to work in a diverse team environment
  

#MidSenior

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!

About Varo

Varo launched in 2017 with the vision to bring the best of fintech into the regulated banking system. We’re a new kind of bank – all-digital, mission-driven, FDIC-insured, and designed around the modern American consumer. 

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:

Facebook - https://www.facebook.com/varomoney

Instagram - www.instagram.com/varobank

LinkedIn - https://www.linkedin.com/company/varobank

Twitter - https://twitter.com/varobank

Engineering Blog - https://medium.com/engineering-varo

SoundCloud - https://soundcloud.com/varobank

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.

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 careers@varomoney.com with the pertinent information and contact information.

CCPA Notice at Collection for California Employees and Applicants:

https://varomoney.box.com/s/q7eockvma9nd2b0utwryruh4ze6gf8eg

 For cash compensation, we set standard ranges for all US-based roles based on function, level, and geographic location, benchmarked against similar-stage growth companies. Per applicable law, the salary range for this role is $60,000 - $100,000. Final offer amounts are determined by multiple factors as well as candidate experience and expertise and may vary from the identified range