Full-Time

Compliance Officer

Posted on 11/26/2024

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Mid, Senior

Orlando, FL, USA + 3 more

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

Category
Risk & Compliance
Legal & Compliance
Requirements
  • Bachelor's degree in Business, Economics, Finance, or Accounting, or an equivalent combination of education and work experience.
  • Two years of compliance-related experience
  • Five years of financial institution experience
  • Demonstrated working knowledge of standard compliance concepts, practices, policies and related state and federal laws.
  • Detail orientated and strong analytical skills.
  • Strong communication, presentation and facilitation skills; proven ability to interact with all levels of management.
  • Leadership skills to guide and mentor the work of less experienced compliance consultants and analysts.
  • Completion of the American Bankers Association (ABA) Compliance School or CRCM certification
Responsibilities
  • Maintain an understanding of all applicable laws, rules and regulations applicable to coverage areas and provide regulatory guidance to assigned business unit and/or function associates.
  • Review regulatory changes and assess the impact those changes may have on assigned business units and/or functions.
  • Manage compliance risk management communications, training, documentation, procedures, and processes.
  • Monitor and communicate compliance risk management industry developments.
  • Implement strategies and methods related to the compliance risk management framework within the organization, including quality assessments, key risk, and performance measurement data, along with oversight monitoring and mitigation strategies.
  • Assess process, procedure and control documentation and other related compliance issues and documentation to help ensure they are accurate and easily understood by audit and/or external regulatory agencies.
  • Consult with business and/or functional units with respect to the design and implementation of remediation efforts as needed.

Truist offers a platform for Registered Investment Advisors (RIAs) to improve their operations and client services. Its features include live chat support, commission-free fractional share trading, a model marketplace, and an automated rebalancer, which help RIAs manage their businesses more efficiently. Unlike competitors, Truist provides these services for free, monetizing through a vertically-integrated custodian service that reduces 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

24%

1 year growth

40%

2 year growth

73%
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.

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