General Manager of Lending

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.
Varo Bank is on a mission to make financial inclusion and opportunity a reality for all. As the first consumer fintech granted a national bank charter in U.S. history (regulated by the OCC), we are redefining banking with a unique blend of mission-driven values, cutting-edge technology, and a commitment to helping hard-working Americans improve their financial health. Varo is built on the belief that money should work for everyone, not just some of us. We offer a full-service, digital banking experience, including high-yield savings, no-fee bank accounts, and innovative credit products designed to help customers save money and build credit responsibly.

About the Opportunity:
Varo is seeking a strategic, visionary, and execution-focused General Manager of Lending to lead and grow our lending portfolio. This is a critical executive leadership role responsible for the end-to-end P&L, credit policy, risk governance, and portfolio management of Varo's credit products, including Varo Advance and Varo Line of Credit.
Reporting directly to the CEO, this role is part of the Executive Leadership Team and will drive the lending strategy that underpins Varo’s customer growth, financial performance, and regulatory integrity.
Lending sits at the heart of Varo’s growth strategy — as both a customer engagement engine and a gateway for acquisition. The GM of Lending will drive expansion across our cash-flow–underwritten products, including upcoming modalities such as BNPL and Flex, while deepening customer relationships and lifetime value.
The ideal candidate is a seasoned leader with deep experience in consumer credit, fintech innovation, and regulatory affairs, who is passionate about delivering fair, transparent, and financially empowering products while operating within a robust bank risk framework. You will own the strategic growth and regulatory integrity of one of the most critical product lines for Varo and its mission.

KEY RESPONSIBILITIES:

• P&L Management and Business Growth
• Credit Policy, Risk Governance, and Regulatory Oversight
• Active Portfolio and Performance Management

Success in Year One Will Be Measured by:
• Growth in active lending users and repeat engagement
• Expansion of lending’s contribution to deposit growth and new customer acquisition
• Improved credit performance (delinquencies, NCOs, vintage stability)
• Successful delivery of BNPL and Flex products
• Strength of internal controls and regulatory outcomes (no significant findings)
• Strength and cohesion of the cross-functional Lending team

P&L Management and Business Growth

• P&L Accountability: Drive the complete Lending P&L, overseeing forecasts, budget management, and capital deployment to ensure profitable and sustainable growth.
• Strategic Vision: Define the multi-year Lending Product Roadmap, identifying, championing, and launching new, compliant credit products (e.g., installment loans, secured products) that expand Varo’s market opportunity. 
• Lead the evolution of Varo’s cash-flow–based lending ecosystem — connecting Varo Advance, Line of Credit, and future products like BNPL and Flex into a seamless, integrated customer experience.
• Partner with Finance and Treasury to optimize capital efficiency, portfolio funding, and return-on-equity performance, ensuring lending growth aligns with balance sheet strategy.
• Drive lending’s contribution to customer acquisition and engagement through cross-product metrics such as deposit activation, repeat usage, and retention lift.
• Product Roadmap Delivery: Oversee the successful execution and delivery of the Lending Product Roadmap, ensuring timely and impactful launches.
• Ensure early and holistic planning across all stakeholders, with clearly defined PRDs, robust dependency mapping, and disciplined execution from Day 1.
• Cross-Functional Leadership: Partner seamlessly with Product, Engineering, AI and Data, Marketing, and Operations teams to execute the lending strategy, ensuring speed to market while maintaining high standards of control and customer experience.

Credit Policy, Risk Governance, and Regulatory Oversight

• Credit Policy Framework Ownership: Own the development, documentation, and rigorous enforcement of the Credit Policy Framework for all lending products, ensuring it aligns directly with the bank's approved Risk Appetite Statement