Risk Controls Testing Consultant

Job Description

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’s Risk & Controls Testing team is committed to Varo’s culture and risk management structure, which ensures compliance with applicable laws, regulations, regulatory guidance, and Varo Bank Policies and Standards. We are committed to driving operational excellence by implementing continuous improvements within the first line of defense. The team is responsible for making sure we assess the design and operating effectiveness of controls within critical processes of all business functions at Varo. We serve as members of Varo’s second line of defense and support the bank's Risk and Controls Self Assessment framework and are critical to ensuring that risks are identified, assessed, mitigated, monitored, and reported effectively. The Controls Testing consultant will report to the Controls Testing Lead and the Head of the RCSA Program. This will be a 3+ month contract for 40 hours per week. Looking for someone with immediate availability to start.

What you'll be doing:

• Perform scheduled operational risk business controls assessments in a comprehensive and timely manner consistent with Varo’s RCSA and Controls Testing Program methodology and standards.
• Executing Design Effectiveness Assessments (DEA) of internal business controls which includes conducting process walkthroughs and documenting business processes and controls within walkthrough meetings and procedures.
• Conducting Operating Effectiveness Testing (OET) which includes utilizing risk-based sampling methodologies to conduct sample testing of controls operations and relevant quality controls and monitoring activities.
• Preparing a detailed request list, selecting appropriate samples for testing, and executing the testing.
• Identifying and communicating any DEA and OET deficiencies and following up with control owners to ensure deficiencies are resolved in a timely manner.
• Assessing the impact of control weaknesses on financial reporting and raising issues
• Communicating on a regular cadence regarding executive reporting of controls assessment results and statuses
• Assisting in RCSA Readiness and Execution work
• Share your knowledge and expertise in preparing/ enhancing RCSA & Control Testing governance documents

You’ll bring the following required skills and experiences:

• 2-5 years experience in Finance and/or Auditing, preferably in Financial Services organizations
• Experience in identifying, documenting, and testing controls
• Good understanding of requirements and the COSO and ISO ERM/ORM assessment methodologies frameworks and their application to internal controls over critical business processes and or financial reporting processes
• Ability to understand, implement and drive improvements to risk & control framework

#Associate 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 [email protected] with the pertinent information and contact information. CCPA Notice at Collection for California Employees and Applicants: https://www.varomoney.com/privacy-legal/ Apply for this job