Community Reinvestment Act Officer

Varo Money

Varo Money

Salt Lake City, UT, USA
Posted on Thursday, July 13, 2023
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.
We’re looking for a Community Reinvestment Act Officer who will lead the management and execution of Varo Bank’s Community Reinvestment Act Strategic Plan as well as play a leading role in advancing Varo’s Social Impact efforts more broadly. Varo’s Strategic Plan is novel in the industry and it will give the officer a unique opportunity to drive change and have a major impact on low and moderate income communities.
*To be considered for this position, applicants must reside near Salt Lake City, UT*

What you’ll be doing

  • Set the direction and implement the CRA Strategic Plan by identifying opportunities for Varo and its employees to make a difference and support Varo’s mission
  • Identify and implement programs in both SLC and in the Western Region of the US for Varo employees to engage with their communities while fulfilling Varo’s Strategic Plan, with a primary focus on the promotion of youth financial literacy in schools and adult personal finance
  • Manage the Community Reinvestment Act Plan exam and ad hoc inquiries about our Plan or the bank’s latest CRA evaluation
  • Identify and build relationships for Varo Bank in the community, consumer groups, and the regulators, focusing on our Designated Assessment Areas, and regularly participate in organizations and events to increase the bank’s visibility
  • Identify and make recommendations for investment opportunities that will fulfill the Community Reinvestment Act Strategic Plan
  • Support overall impact work at Varo, and serve as a key member of Varo’s Social Impact Working Group, which includes coordinating and or overseeing Varo’s volunteerism and financial education programming and related events
  • Support Varo’s Head of Public Policy and Social Impact, which includes advancing Varo’s public policy agenda and related advocacy efforts around financial inclusion, financial education, and other issues that may impact Varo’s business activities

You’ll bring the following required skills and experiences

  • Prior experience with the implementation, management, and examination of the Community Reinvestment Act is essential
  • Build and maintain strong relationships with regulators, other banks’ community reinvestment act officers, banking trade associations, and other CRA industry experts or practitioners
  • Working with community groups, particularly around the promotion of youth financial literacy or financial access and inclusion among disadvantaged populations
  • A bachelor’s degree in finance, economics, data analytics, or related field, or a certification in personal finance, such as a Certified Financial Planner (CFP), a plus
  • Building strong interpersonal relationships within Varo
  • Passion for helping the low and moderate income communities and advancing diversity, equity, and inclusion
  • Commitment to working on Public Policy issues
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:
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!
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