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Full-Time

GCO Wealth Supervision

AML/Fraud Risk Analyst

Confirmed live in the last 24 hours

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Senior

Coral Gables, FL, USA

Category
Risk Management
Finance & Banking
Required Skills
SQL
Data Analysis
Excel/Numbers/Sheets
Requirements
  • Bachelor’s degree
  • A minimum of 7 years of industry experience in a financial institution with emphasis in operations, supervision and/or risk management
  • FINRA Series 24
  • Knowledge of retail financial institutions with emphasis in operations, supervision, compliance, and/ or risk management
  • Knowledge of securities markets and the retail brokerage business
  • Knowledge of regulatory environment
  • Strong analytical skills and experience working with data and reporting
  • Strong written and oral communication skills
  • Detail oriented and able to work independently while juggling multiple priorities
  • FINRA Series 7 and/or 66 (Preferred)
  • 7 to 9 years of business experience in retail brokerage with an emphasis in operations, supervision, compliance, and/ or risk management (Preferred)
  • Bachelor’s degree in business, accounting, finance, banking or equivalent education and related training (Preferred)
  • Banking or Investment securities experience (Preferred)
  • SQL and/or advanced MS Excel skills (Preferred)
Responsibilities
  • Analyze customer transaction activity to ascertain legitimacy of the business and the business transactions, ensuring that the transaction activity is commensurate with the nature of the business entity and historical patterns. Communicate with Relationship Managers, branch associates and others as needed to gather additional client information.
  • Analyze and track escalations of elder concerns. Connect with Advisors and Supervisors as needed to discover root cause and further escalate as appropriate.
  • Analyze and track other escalations of potential fraud from all sources include teammate concerns, privacy concerns, negative news alerts, and teammate escalations. Connect with Advisors and Supervisors as needed to discover root cause and further escalate as appropriate.
  • Conduct and monitor negative news screening.
  • Assist with International client onboarding.
  • Act as subject matter experts for Unusual Financial Observation filings. Liaise with AML Officer as necessary.
  • Conduct regular reporting on fraud escalations.
  • Maintain a strong knowledge of all applicable current and proposed regulations, including FINRA 19-18 Red Flags monitoring, Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) laws and regulations, and FINRA notices on elder fraud.

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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