Full-Time

Group Manager

Letters of Credit and Trade Services

Posted on 9/10/2024

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

No salary listed

Senior, Expert

Greensboro, NC, USA + 1 more

More locations: Atlanta, GA, USA

Category
Commercial Banking
Risk Management
Finance & Banking
Required Skills
Communications
Management
Requirements
  • Bachelor’s degree in Business, Finance, or related field or equivalent education and related training
  • Ten years work experience in large US financial services firm with seven years of management experience (individual contributors and managers) and demonstrated experience in leading diverse teams based in various regional locations
  • Demonstrated leadership, innovation, and strategic planning skills across a broad scope of operational areas, as well as a creative approach to process management
  • Excellent interpersonal, communication, negotiation, organizational and problem-solving skills
  • Ability to translate strategic priorities into operational reality; ability to identify and drive organizational and cultural changes needed to adapt strategically to changing market demands, technology, and internal initiatives; catalyzing new approaches to improve results by transforming organizational culture, systems, or products/services
  • Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
Responsibilities
  • Oversee the optimization of the letter of credit processes and servicing of client relationships. Develop and implement programs to support origination, documentation, funding, and servicing of all forms of letters of credit and documentary trade services.
  • Collaborate in the strategic planning, management and execution of new technology solutions and existing technology enhancements to support assigned the LC and Trade Services processes.
  • Participate in the selection, design and implementation of processes, systems, and technologies for large, enterprise efforts to improve our letter of credit activities.
  • Serve as Truist operation’s primary point of contact for domestic and foreign financial institutions requesting introductions to other Truist LOBs and act as escalation point, if needed.
  • Develop and maintain effective risk governance and operational risk management systems and processes to manage risk and safeguard assets.
  • Implement operation policies and procedures to ensure compliance with State and Federal regulations and internal compliance requirements.
  • Serves as a subject matter expert and respond to questions or inquiries concerning policies, procedures, structuring, etc. from auditors, risk partners, compliance, and examiners to assist in internal reviews and external examinations. Follow up and correct any items addressed and ensure necessary changes or recommendations have been implemented as directed.
  • Participate in relevant line of business and other meetings to stay informed, collaborate and build strong partnerships in order to achieve the most effective and efficient business results.
  • Responsible for assigned associates, including recruitment, retention, career development, performance management, salary administration, promotions, transfers, succession planning, training, coaching and terminations within established policies and guidelines.
  • Stays abreast of market issues and trends, maintains up-to-date knowledge on all relevant Truist credit and lending policies, procedures, and regulations.
  • Establishes measurable metrics that properly reflect the production and client experience for the team. Execute on client service and quality goals.

Truist offers a platform for Registered Investment Advisors (RIAs) to improve their operations and client services. Its features include live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, which help RIAs manage their businesses more efficiently. Unlike competitors, Truist provides these services for free and monetizes through a vertically-integrated custodian service, reducing overhead costs for RIAs. The company's goal is to empower RIAs to grow their businesses and enhance the client experience.

Company Size

501-1,000

Company Stage

Series F

Total Funding

$601.5M

Headquarters

Culver City, California

Founded

2018

Simplify Jobs

Simplify's Take

What believers are saying

  • Altruist raised $152 million in Series F funding, boosting growth potential.
  • The company serves over 4,700 advisors, tripling assets under management consecutively.
  • Altruist's digital fixed-income trading aligns with expanding market trends.

What critics are saying

  • Competition from Robinhood and established players like Schwab and Fidelity is intense.
  • Rapid growth may strain Altruist's operational capabilities, risking service disruptions.
  • New regulatory compliance challenges arise with digital fixed-income trading addition.

What makes Truist unique

  • Altruist offers a simplified tech stack for efficient RIA management.
  • The platform includes commission-free fractional share trading and automated rebalancer.
  • Altruist provides original content for insightful, actionable information for financial advisors.

Help us improve and share your feedback! Did you find this helpful?

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Life Insurance

Disability Insurance

Health Savings Account/Flexible Spending Account

Unlimited Paid Time Off

Paid Vacation

Paid Sick Leave

Paid Holidays

Hybrid Work Options

401(k) Retirement Plan

401(k) Company Match

Company Equity

Growth & Insights and Company News

Headcount

6 month growth

5%

1 year growth

1%

2 year growth

1%
Fintech News Singapore
Apr 23rd, 2025
GIC Leads US$152 Million Series F in U.S. Custodian Altruist

Altruist, a US-based custodian platform for registered investment advisors (RIAs), has raised US$152 million in a Series F funding round led by Singapore's sovereign wealth fund GIC.

Business Wire
Apr 22nd, 2025
Altruist Secures $152M Series F Funding

Altruist, a modern custodian for RIAs, raised $152 million in Series F funding led by GIC, valuing the company at approximately $1.9 billion. Other participants included Salesforce Ventures and Baillie Gifford. The funding follows a year of significant growth, with Altruist launching new products and expanding its executive team. The company now serves over 4,700 advisors and has tripled assets under management for two consecutive years.

Axios
Apr 22nd, 2025
Altruist Raises $152M, Nears $2B Valuation

Altruist, a custodian and software company for investment advisers, raised $152 million in Series F funding led by GIC, valuing it at $1.9 billion. This follows Robinhood's acquisition of custodian TradePMR for $300 million last year. Altruist was previously valued at $1.5 billion in May 2024. The RIA custody space, dominated by Charles Schwab and Fidelity, is seeing new entrants aiming to capture market share with innovative tech and lower fees.

Wealth Management
Mar 14th, 2025
WealthStack Roundup: Altruist Fills CTO Vacancy

RIA custodian upstart Altruist this week announced the hiring of Silicon Valley insider Sumanth Sukumar as its chief technology officer.

Business Wire
Mar 12th, 2025
Former Coinbase and Uber Executive Joins Altruist as CTO to Cement Tech Advantage

To establish a hub for engineering innovation and strengthen its technology leadership, Altruist is expanding its presence with an office in San Francisco.

INACTIVE