Full-Time

Head of Small Business Banking

Posted on 11/8/2024

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Senior, Expert

Charlotte, NC, USA

Category
Commercial Banking
Finance & Banking
Required Skills
Product Design
Requirements
  • Bachelor’s degree, or equivalent education and related training
  • 15 years of related work experience
  • Extensive subject matter expertise including advanced understanding of industry drivers, product positioning, structuring and risk mitigation strategies
  • Proven ability to develop, nurture and monetize “trusted advisor” client relationships
  • Demonstrated ability to collaborate and influence across functional areas to resolve complex issues
  • Strong interpersonal skills which foster teamwork, trust, creativity/innovation and accountability
  • Ability to communicate clearly, concisely and insightfully
  • Evidence of ability to develop and retain top talent
  • MBA, with a Finance focus (Preferred)
  • 20 years of management experience (Preferred)
  • Direct origination experience of each product (Preferred)
Responsibilities
  • Creating, overseeing and enhancing execution of the Small Business Banking strategy for Truist.
  • Full accountability for revenue generation and product distribution for the Small Business segment (up to $10MM revenue) to include Branch Leader banking activity, Small Business Direct, and Business Connect.
  • Direct responsibility for building and leading high-performing teams of Small Business lending experts, including team leaders, client-facing and virtual relationship managers (e.g. Business Bankers) and support staff.
  • Responsible for strategic direction, portfolio expansion and profitability for the Major Brands franchise business in support of Truist Wholesale clients.
  • Closely partners with Wholesale Payments to design and execute a comprehensive set of payment products and services tailored for Small Business clients.
  • Accountable for product design, delivery and client experience across Small Business segment, including credit risk, operational risk, compliance risk, financial crimes in addition to knowledge and/or ownership of related policies & procedures.
  • Ensures loan originations and portfolios operate within Truist’s stated risk appetite.
  • Closely collaborates with key stakeholders in technology, marketing (internal and external) and legal.
  • Champion enterprise and Small Business Banking programs across segment, including use of Financial Insights, Integrated Relationship Management principles, and delivering a differentiated client experience to Small Business clients, irrespective of how they are engaged (e.g. in-market, Small Business Direct).
  • Effectively manage direct and indirect allocated expense based upon annual budget per product.
  • Formulate and execute against product strategies in alignment with the line of business and overall institution’s strategy, goals and objectives.
  • Understand current external product trends and economic drivers to ensure Truist’s competitiveness throughout its diverse geographic footprint. Participate in industry trade organizations and represent Truist as the senior leader for Business Banking segment.

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

Company Stage

Series E

Total Funding

$437.2M

Headquarters

Culver City, California

Founded

2018

Growth & Insights
Headcount

6 month growth

24%

1 year growth

37%

2 year growth

72%
Simplify Jobs

Simplify's Take

What believers are saying

  • Altruist raised $169M in Series E funding, boosting growth and innovation potential.
  • Partnerships with Orion and Kwanti enhance Altruist's platform integration and service offerings.
  • Increased demand for digital transformation in financial services aligns with Altruist's tech solutions.

What critics are saying

  • Competition from firms like Betterment and Wealthfront pressures Altruist to innovate continuously.
  • Integration with Orion and Kwanti may pose operational risks if not seamless.
  • New digital fixed-income trading could attract regulatory scrutiny if compliance is lacking.

What makes Truist unique

  • Altruist offers a simplified tech stack for RIAs, enhancing operational efficiency.
  • The platform includes commission-free trading and an automated rebalancer for cost-effective solutions.
  • Altruist's model marketplace provides personalized investment strategies, catering to diverse client needs.

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