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Full-Time

Quant Audit Manager

Confirmed live in the last 24 hours

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Senior, Expert

King of Prussia, PA, USA + 4 more

More locations: Raleigh, NC, USA | Richmond, VA, USA | Charlotte, NC, USA | Atlanta, GA, USA

Category
Auditing
Quantitative Analysis
Quantitative Finance
Accounting
Required Skills
Python
Data Science
R
SQL
Data Analysis
Requirements
  • Master’s in Mathematics, Statistics, Data Science, Engineering, Computer Science or formal post undergraduate certification with a focus on Quantitative or Financial Analytics.
  • 6+ years of technical model experience, which could include working on a model validation team, model development team or Audit equivalent technical review team.
  • Demonstrated proficiency with one or more financial modeling methodologies. This includes knowledge of statistical and algorithmic methods applied in financial modeling.
  • The ability to work independently without supervision.
  • Strong knowledge of programming languages such as R, Python, or C++.
  • Strong knowledge of one or more database management tools such as SAS and/or SQL.
  • Strong analytical, facilitation, interpersonal and decision-making skills.
  • Strong written, oral, and negotiating skills, including the ability to present findings and articulate and defend conclusions to senior Audit and/or line of business management.
  • Strong proficiency of standard software applications such as MS Office.
Responsibilities
  • Lead the execution of technical model validation reviews completed by the Truist Model Risk Management Risk Management Technical Review Team. Work will consist of: Performing full or targeted scope validation assessments. Reviewing validations to ensure TAS concurs with the conclusions made by the Model Risk Management Team (MRM) within Truist. Assessing methodology, implementation, and the fit for use status of models. Reviewing various other components of models given the model’s expected use and the scope of the Audit project.
  • In coordination with the more experienced Model Quantitative Auditors, maintain relationships with Model Risk Management, Model Development, and Model Owners throughout the first and second lines of defense.
  • In coordination with the more experienced Model Quantitative Auditors, contribute to improving Truist model risk management by: Recommending improvements to model risk management systems and processes. Being knowledgeable of the organization, operations, policies, and procedures related to the use and management of models. Providing feedback to management on the implementation of new model systems and related processes, and changes to existing model systems, standards, and procedures.
  • Develop and maintain specialization and expertise in complex modeling concepts as well as developing knowledge of auditing concepts and risk management practices, and pursuing continuing education and possible additional professional certifications, as appropriate.
  • Collaborate with various audit delivery teams and provide subject matter expertise for models used by the related lines of business.
  • Maintain the requisite knowledge and experience to assist audit delivery teams with evaluating Truist’s adherence to SR 11-7 regulatory guidance on model risk governance and oversight for various model types.
  • Provide leadership and train/coach/mentor junior team members to enhance achievement of goals and objectives.

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

8%

1 year growth

19%

2 year growth

46%
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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.