In this exclusive CanadianSME Small Business Magazine interview, Rishi Oberoi, Deputy Chief Financial Officer at Varo Bank, shares his philosophy on values-driven leadership and the evolving role of finance in today’s fintech landscape. With over two decades of experience scaling organizations and navigating complex regulatory environments, Rishi combines technical expertise with a human-centered approach—championing empathy, resilience, and ethical innovation. He offers practical insights on how finance leaders can balance profitability with purpose, embrace AI responsibly, and support sustainable growth that benefits both business and community.
Rishi Oberoi is a transformational finance leader, advisor, and community builder, currently serving as Deputy Chief Financial Officer at Varo Bank, the first U.S. consumer fintech to receive a full national bank charter. Over two decades, Rishi has scaled organizations more than 30X, steered companies through complex regulatory landscapes, and helped in raising multimillion-dollar funding, all while building finance departments from scratch and embedding values-driven leadership at every step.
You’ve had a remarkable journey from Deloitte and PwC to becoming Deputy CFO at Varo Bank, the first consumer fintech in the U.S. with a national bank charter. How did these experiences shape your leadership philosophy and your belief in values-driven leadership?
My early years at Deloitte and PwC taught me discipline, accountability, and how to thrive under pressure. At BNP Paribas, I gained a wider perspective on capital markets, corporate finance, and transformation. It was during this time that I began to see finance not merely as a mechanical function, but as a vibrant ecosystem powered by human ingenuity and collaboration. At Varo, the challenge of building an accounting function from the ground up while navigating a complex regulatory landscape profoundly reinforced my belief in values-driven, human-centered leadership.
Through my career, I have learned that true success is not just about achieving financial targets; it’s about the integrity with which those targets are met and the positive impact we create along the way. My philosophy is simple: while authority can enforce compliance, it is empathy that truly inspires commitment and fosters a culture of shared purpose. Numbers are undeniably important, but it is the people, their dedication, their resilience, and their collective spirit, who ultimately generate enduring value. This journey has taught me that leading with empathy allows us to build stronger teams, cultivate deeper trust, and ultimately, achieve more meaningful and sustainable outcomes.
Varo Bank has positioned itself as a disruptor by offering digital-first, inclusive banking solutions. From your perspective, how can financial institutions balance profitability with purpose, ensuring that innovation remains human-centered and accessible to underbanked communities?
The challenge for any forward-thinking financial institution is to pursue sustainable growth without losing sight of purpose. I firmly believe that the true balance between profitability and purpose lies in deeply embedding inclusion into the very fabric of the business model.
Profit, when pursued authentically, is not the adversary of purpose; rather, it becomes a powerful catalyst for long-term, impactful growth. By designing products specifically for underserved communities, maintaining unwavering transparency, and prioritizing trust above all else, we ensure that innovation remains both profitable and profoundly human-centered. This approach transforms banking from a transactional service into a force for positive change, where financial returns are intrinsically linked to the upliftment of communities. It’s about creating a virtuous cycle where our success is measured not only by our bottom line but also by the tangible improvements we bring to people’s lives.
Artificial intelligence is reshaping the future of finance. As a finance leader, where do you see AI having the most transformative impact—whether it’s in compliance, risk management, or capital allocation—and how should CFOs evolve in this changing landscape?
AI will fundamentally redefine the CFO’s role. Beyond faster closes and dashboards, I see AI driving transformation in three areas: compliance, contracts, and capital. Imagine continuous, AI-driven controls providing real-time assurance to regulators, significantly enhancing our ability to maintain a robust and transparent compliance framework. Consider the power of AI in contract analysis, instantly identifying and plugging margin leakage, thereby optimizing profitability. And envision real-time capital allocation engines that dynamically optimize returns even under the most volatile market conditions.
For CFOs, this shift demands an evolution from being passive reporters of historical data to becoming proactive guardians of trust, resilience, and foresight. The key is not to fear AI, but to embrace it responsibly, leveraging its capabilities as a sophisticated tool to sharpen our judgment and enhance our strategic decision-making, all while keeping human wisdom and ethical considerations firmly at the center of our approach. This is about augmenting our capabilities, not replacing our core leadership.
Having scaled organizations through turbulence and regulatory complexities, you emphasize resilience and calm decision-making under pressure. What practices or philosophies help you stay grounded and guide your teams through periods of uncertainty?
Throughout my career, I’ve led teams through economic turbulence, intense regulatory scrutiny, and periods of rapid scale. What grounds me is a mix of stoicism, empathy, and calm clarity. Markets may crash, deals may collapse, but if leaders panic, teams will too. I practice what I call the “calm in the storm” approach: controlling my response, creating psychological safety, and ensuring open communication. I also emphasize humility, acknowledging that we don’t always have all the answers. Empathy serves as my compass, keeping me deeply connected to my teams, understanding their concerns, and fostering an environment where they feel supported. Simultaneously, a disciplined approach to decision-making ensures we remain steady and strategic. I believe that true resilience is not built through aggression or rigid control, but through the profound trust we cultivate and the composure we maintain, even in the face of the greatest uncertainty.
Many small and medium-sized business leaders look up to financial leaders like you for inspiration. What final message or practical advice would you share with SMBs striving to grow sustainably while staying true to their values?
For small and medium-sized businesses, the journey of growth often feels like an exhilarating, yet demanding, race. My advice: anchor yourself firmly in values. Short-term gains can tempt, but sustainable success requires patience, resilience, and clarity of mission. Lead with genuine empathy, and commit to communicating openly, even when it’s uncomfortable. Use technology wisely, but never let it replace human judgment.
Finally, measure success not just by profits, but by the trust you build with your teams, customers, and communities. In the long run, resilience and integrity will compound more powerfully than any quarterly metric.
