Simplify Logo

Full-Time

Director of Recovery Planning

Confirmed live in the last 24 hours

Truist

Truist

501-1,000 employees

Platform for Registered Investment Advisors' operations

Fintech
Financial Services

Senior, Expert

Winston-Salem, NC, USA + 2 more

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

Category
Risk Management
Finance & Banking
Required Skills
Financial analysis
Requirements
  • Bachelor’s degree in business, accounting, economics, finance or equivalent education and related training
  • Ten years of banking or equivalent relevant experience
  • Strong understanding of financial concepts and proven financial modeling and analysis ability; demonstrated understanding of financial statements, including drivers of results
  • Proven understanding of, and ability to navigate, complex data sourcing and aggregation processes; ability to engage with data management teams to ensure well-controlled and accurate data is provided and incorporated into recovery and resolution plans
  • Experience developing and performing recovery and resolution planning-related financial projections, liquidity analysis, and / or asset valuation
  • Proven ability to effectively manage complex projects and initiatives, including multiple business partners across different areas as well as large / complex data sets; demonstrated organizational skills
  • Deep knowledge of bank regulatory requirements, including IDI Resolution Plan and 165(d) Resolution Plan rules and regulatory requirements and guidance
  • Ability to think strategically and understand cross-functional impacts of actions and decisions
  • Excellent communication skills, including experience authoring regulatory submissions and responses, and ability to communicate with a wide range of audiences including Senior / Executive Leadership, line of business associates, peers, regulators and consultants
Responsibilities
  • Perform detailed financial and operational assessments of the legal entities, business lines, and products / services of Truist Financial Corporation and Truist Bank; ensures robust and accurate documentation of all research performed, and promotes effective challenge of observations and recommendations
  • Manage the process of identifying and aggregating key financial and non-financial data as direct or indirect inputs into the recovery and resolution plans; ensure data quality standards and document key data aggregation dependencies, timelines and controls
  • Lead the development and performance of complex financial analysis (forecasting, valuation) in support of recovery and resolution planning strategies and alternatives; perform sensitivity and scenario analysis to inform decision-making of potential recovery and resolution strategies, and leads efforts to identify the resolution strategy that results in the least cost to the FDIC deposit insurance fund
  • Ensure comprehensive documentation of the financial management of different legal entities, including intercompany funding and capitalization (and related contingencies / dependencies); Implements ongoing monitoring and reporting of such intercompany arrangements
  • Support efforts to build out different contingency and recovery actions through the continuum of stress; assess feasibility, financial impact, timeliness and other governance considerations of contingency and recovery actions
  • Lead and support additional special projects as assigned; these may include financial and operational analysis, ad-hoc support for large-scale projects, and other one-time or recurring initiatives as needed

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%
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.

Help us improve and share your feedback! Did you find this helpful?