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Full-Time

Wealth Document Custody Analyst I

Confirmed live in the last 24 hours

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Entry, Junior

Charlotte, NC, USA

Category
Asset Management
Finance & Banking
Requirements
  • High School education or equivalent
  • 2-3 years related Mortgage experience processing, underwriting and or closing
  • Proficiency with Microsoft Office
  • Strong written and verbal communications skill
Responsibilities
  • Ensure all required documents are reviewed and in compliance with Agency requirements.
  • Participate in the re-certification process when an issuer acquires collateral from another issuer. Ensure all documents are re-certified according to Agency guidelines within required timeframes for all acquisitions.
  • Release documents to Issuers in accordance with Agency regulations. Ensure that the correct Request for Release form has been received, filled in correctly/completely, and signed by authorized personnel prior to release.
  • Maintain database of pooled loans on computer system. Enter information when collateral documents are received or released ensuring the current appropriate status.
  • Assist in the preparation of various management reports reflecting status of pooled loans and volumes.
  • Interact with various issuers, regulatory agencies, auditors, etc. to resolve questions and issues regarding deliveries, certifications and compliance.
  • Provide timely problem escalation to manager and/or team leader.

Truist offers a platform for Registered Investment Advisors (RIAs) to improve their operations and client services. The platform includes tools like live chat support, commission-free trading, and an automated rebalancer, allowing RIAs to manage their businesses more efficiently and serve more clients at a lower cost. Unlike competitors, Truist provides these services for free, monetizing through a custodian service that helps RIAs reduce 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

10%

1 year growth

19%

2 year growth

51%
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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.

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