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Full-Time

Regulatory Governance Specialist

Posted on 9/29/2024

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Entry, Junior

Richmond, VA, USA + 1 more

More locations: Greenville, SC, USA

Requires onsite presence in Richmond, VA and Greenville, SC for four days a week.

Category
Risk & Compliance
Legal & Compliance
Requirements
  • College degree or comparable education and experience
  • One to two years of mortgage, banking, banking operations, or comparable education
  • Proficiency with Microsoft Office suite of products to include Word and Excel
  • Two or more years of retail banking, banking operations, or experience in a law firm or corporate setting (preferred)
  • Strong research and investigation skills (preferred)
  • Proficiency with banking software, deposit account systems, or mortgage servicing systems (preferred)
  • Excellent written and oral communication skills (preferred)
  • Ability to prioritize a significant volume of work with simultaneous deadlines (preferred)
  • Strong organizational skills and attention to detail (preferred)
  • Ability to work effectively in teams and independently and make effective decisions consistent with role and responsibilities (preferred)
Responsibilities
  • Gather required documentation to evidence a borrower’s qualified status for SCRA, Successor in Interest, and Assumption of Mortgage
  • Complete data entry and validation based on documents required by investor or regulation
  • Issue accurate and timely client notifications for client accommodation based on regulatory and investor requirements
  • Update internal system of record to capture document issuance and retention standards
  • Stay current on regulatory timelines and investor guidelines for qualified parties
  • Identify and communicate adverse issues, trends or inefficiencies to management and other lines of business along with proposed solutions; contribute to agreed upon resolutions
  • Build and maintain relationships with internal and external business partners, managing expectations and accountability
  • All other duties as assigned

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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