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Full-Time

GCO Risk Program Execution Consultant III

Model Area Coordinator

Confirmed live in the last 24 hours

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Mid, Senior

Charlotte, NC, USA

Category
Risk Management
Finance & Banking
Required Skills
Communications
Management
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
  • 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 levels of leadership
  • Demonstrated proficiency in basic computer applications, such as Microsoft Office software products.
  • Ability to travel, occasionally overnight
Responsibilities
  • Understand the models used within a given business area.
  • Serve as the new model collection point and drive value to Consumer and Small Business Banking, Enterprise Operational Risk Services, Enterprise Technology, Finance, Government Affairs and Legal Team, Human Resources, Risk Management Organization, and Wholesale areas.
  • Identify potential models and submit for disposition on an ongoing basis.
  • Ensure the effective execution of the model inventory attestations across the associated model portfolio.
  • Verify vended model adhere to policy stipulation related to vendor models, active participation in Third Party Risk Assessments regarding models.
  • Active participation in Change Risk Assessments regarding models.
  • Report on model risk at the associated Business Unit Risk Committee and participate in other model related committees.
  • Participate in audit and regulatory exams.
  • Serve as the liaison between associated model owners, other model area owners, key [Consumer and Small Business Banking, Enterprise Operational Risk Services, Enterprise Technology, Finance, Government Affairs and Legal Team, Human Resources, Risk Management Organization, Wholesale] representatives, and the second line model risk program.
  • Serve as a subject matter expert for the Model Risk Management program, providing effective challenge as necessary to program updates, changes. Participate in all applicable working groups for the Model Risk Management program.
  • Communicate, train and monitor adherence of business partners and GCO teammates for changes in risk programs; provide coaching on effective execution, sharing best practices where applicable.
  • Deliver/Influence recommendations for updates to relevant policies and procedures for risk program execution.
  • Establish working relationships with line of business leaders and second line, third line of defense risk partners.
  • Communicate and present materials in various leadership forums, committees.
  • Mentor teammates within the risk execution team.

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.