Full-Time

GCO Risk Advisory Manager I – Or GCO Senior Risk Advisory Manager I

Posted on 11/27/2024

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Mid, Senior

Winston-Salem, NC, USA + 2 more

More locations: Charlotte, NC, USA | Atlanta, GA, USA

Category
Risk Management
Finance & Banking
Requirements
  • Bachelor’s degree in Business, Finance or science/academic field, or equivalent education and related training or experience.
  • Five years of risk management experience in financial services or related field and/or equivalent education, training and experience.
  • Three years of leadership experience.
  • Subject matter expertise in assigned/specified line of business.
  • Broad risk and regulatory knowledge with an emphasis on: Credit, Market, Liquidity, Compliance, Operational, Reputation and Strategic Risks.
  • Strong leadership and communication skills.
  • Ability to think critically and strategically, multi-task, and drive change.
  • Strong quantitative, governance, and analytic abilities.
  • Ability to provide effective challenge to senior leaders and business partners.
  • Demonstrated proficiency in basic computer applications, such as Microsoft Office software products.
  • Ability to travel, occasionally overnight.
  • Master’s degree in finance or equivalent science/academic field.
  • Ten years of risk management experience in financial services or related field.
  • Financial Risk Manager (FRM)/Certified Financial Analyst (CFA) or equivalent advanced risk certification.
Responsibilities
  • Engage in risk management activities with the line of business, proactively identifying existing and emerging risks, evaluating the significance of the risks, and providing support in managing acceptance or mitigation of the identified risks.
  • Lead a team of risk advisors responsible for executing the responsibilities of various operations and enterprise risk programs in accordance with the program requirements (Ie: Risk control self-assessments, issues management).
  • Assist business line leadership with identifying, assessing, controlling, mitigating, and communicating risks associated with business processes and decisions. Provide oversight and governance to the assigned business unit regarding its control environment. In partnership with process owners, lead the engagement and completion of the compliance risk assessments for applicable RCSAs.
  • Support the business in the development of Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs).
  • Provide risk management support and oversight for change activities (both business and regulatory change).
  • Provide oversight and support for open risk, audit, and regulatory issues. Evaluate the root cause, the corrective action plans and work with business partners and GCO advisor team to successfully implement and document remediation.
  • Support the business and the GCO governance & reporting team for all audit and regulatory exam engagements.
  • Communicate with assigned business unit’s leadership regarding activities, trends, and events pertaining to risk, regulatory, audit and loan review activities. Promote various risk initiatives and their supporting metrics.
  • Work alongside the GCO Risk Program Execution team in executing and supporting all risk program activities as defined in policy.
  • Coach and develop risk advisor teammates within the GCO.

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, monetizing through a vertically-integrated custodian service that reduces overhead costs. The goal is to empower RIAs to grow their businesses and enhance client experiences.

Company Stage

Series E

Total Funding

$437.2M

Headquarters

Culver City, California

Founded

N/A

Growth & Insights
Headcount

6 month growth

24%

1 year growth

40%

2 year growth

73%
Simplify Jobs

Simplify's Take

What believers are saying

  • The recent $169M Series E funding round indicates strong investor confidence and provides substantial capital for further innovation and expansion.
  • Collaborations with leading providers like Orion Advisor Solutions and Kwanti enhance Altruist's platform capabilities, making it more attractive to RIAs.
  • Acquiring Shareholders Service Group expands Altruist's service offerings and client base, positioning it to compete with industry giants like Schwab and Fidelity.

What critics are saying

  • The competitive landscape in the RIA market includes established players like Schwab and Fidelity, which could challenge Altruist's growth and market penetration.
  • Rapid expansion and multiple integrations may lead to operational complexities and potential service disruptions.

What makes Truist unique

  • Altruist offers a simplified tech stack specifically designed for RIAs, unlike broader financial platforms that cater to multiple financial service providers.
  • Their commission-free fractional share trading and automated rebalancer features provide cost-effective solutions that are not commonly bundled together in competing platforms.
  • The vertically-integrated custodian service allows Altruist to streamline operations and reduce overhead costs for RIAs, setting it apart from traditional custodial services.

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