Simplify Logo

Full-Time

2025 Auditor Development Program

Atlanta, GA

Posted on 9/10/2024

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Entry, Junior

Atlanta, GA, USA

No relocation assistance offered.

Category
Auditing
Accounting
Requirements
  • Bachelor’s degree in accounting, business or related field or equivalent education and related training or experience.
  • Zero to two years related experience.
  • Good analytical skills with high attention to details and accuracy.
  • Ability to grasp the underlying concepts in complex information.
  • Good decision-making skills.
  • Good aptitude for learning analytical, audit and/or facilitation skills.
  • Good interpersonal and communication skills.
  • Proficiency in basic computer applications, such as Microsoft Office software products.
Responsibilities
  • Develop internal audit skills.
  • Prepare for effective client interviews and documentation of interview results via narratives, flowcharts and process maps under the guidance of the Engagement Manager.
  • Analyze process documentation to evaluate design effectiveness and efficiency of controls.
  • Execute testing strategy directed by the Engagement Manager.
  • Identify internal control weaknesses.
  • Communicate internal control weaknesses to the Engagement Manager.
  • Gain knowledge of the organization, operations, policies and procedures (including banking laws and regulations) under which Truist operates.
  • Receive constructive feedback and apply to future assignments.

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