Simplify Logo

Full-Time

Public Funds Deposit Product Manager

Posted on 9/10/2024

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Senior, Expert

Charlotte, NC, USA + 1 more

More locations: Atlanta, GA, USA

Category
Product Management
Product
Required Skills
Sales
Communications
Management
Segment
Business Strategy
Requirements
  • Bachelor's degree in related field or an equivalent combination of education and related work experience
  • 10+ years of relevant financial services or consulting firm experience, working on teams with responsibility for strategic planning, product management, sales force effectiveness and industry analysis
  • Strong product management, design and development skills
  • Knowledge of Treasury Solutions applications and products
  • Strong analytical and problem-solving skills
  • Ability to interact with senior management and clients
  • Strong verbal, written communication and presentation skills
  • Strong financial and competitive analysis skills
  • Demonstrated proficiency in basic computer applications, such as Microsoft Office software products
Responsibilities
  • Plan, promote, manage and coordinate activities for the Public Funds business deposit product portfolio and ensure synergy with related product line managers to meet objectives
  • Manage product line direction through ongoing assessment of current products, pricing, and position and how it relates to unique needs for Public Funds/government clients
  • Be the subject matter expert for state/local collateralization requirements and interpreting investment policies
  • Systematically develop and evaluate opportunities for new deposit products and/or lines extensions; identify new target markets and related strategies
  • Support development of new products and/or line extensions as required pursuant to pre-established product development processes
  • Manage development, execution and maintenance of product profit and loss and product family business plan that provides current market information, including sales and gross profit margin history, year to date actuals and projections, key market position, sales channels and competitive strategies, pricing, market share, and product lifecycle and evolution plans
  • Provide and/or present monthly, quarterly and annual product line update reports, as directed
  • Encourage continuous process improvement by developing ways to assess and maximize opportunities for change
  • Manage development of clear pricing strategies, discount structures, and guidelines for all sales channels and target markets; analyzes market data, competitive data, segment data, revenue/cost/profitability data and product/product line strategy
  • Manage development of deposit and volume forecasts based on historical trends, market environment, business plan and pricing strategy impacts
  • Participate in the prioritization of development and promotional projects for the product line and partnership with sales partners
  • Support sales through joint sales calls to key clients; proposal/bid volume pricing, development assistance; trade show support and conference calls
  • Maintain awareness of the competition and other market forces affecting the product line, through effective networking and research
  • Adhere to and follow all applicable policies and procedures; proactively escalate issues and risks to senior leadership's attention
  • Create partnerships and serve as the product knowledge expert building strong relationships with all Lines of Business, Enterprise Payments, and other critical partners
  • Represent Business Deposit Product Management and serve as subject matter expert on special projects and initiatives related to business deposits communicating business strategy/analysis and recommendations

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

5%

1 year growth

19%

2 year growth

46%
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.
INACTIVE