General information Career area Insurance Work Location(s) 1450 American Lane, IL, 500 Woodward Avenue, MI Remote? No Ref # 18483 Posted Date Friday, September 20, 2024 Working time Full time Ally and Your Career Ally Financial only succeeds when its people do - and that’s more than some cliché people put on job postings. We live this stuff! We see our people as, well, people - with interests, families, friends, dreams, and causes that are all important to them. Our focus is on the health and safety of our teammates as well as work-life balance and diversity and inclusion. From generous benefits to a variety of employee resource groups, we strive to build paths that encourage employees to stretch themselves professionally. We want to help you grow, develop, and learn new things. You’re constantly evolving, so shouldn’t your opportunities be, too?
Work Schedule: Ally designates roles as (1) fully on-site, (2) hybrid, or (3) fully remote. Hybrid roles are generally expected to be in the office a certain number of days per week as indicated by your manager. Your hiring manager will discuss this role's specific work requirements with you during the hiring process. All work requirements are subject to change at any time based on leader discretion and/or business need. The Opportunity

Insurance Business Line Risk team is looking for a skilled and detail-oriented individual with a positive attitude to join our team in supporting new products, underwriting, credit risk. This position offers an excellent opportunity to strengthen our current governance and risk management framework. You will have the chance to propose creative ideas and formulate effective strategies, contributing to the enhancement of our risk management practices. Your work will have high visibility within the organization, as you will be directing risk-related conversations and reporting on key risk matters to management committees.

This role works from an Ally office in either Detroit MI or Schaumburg IL.

The Work Itself

Underwriting Risk:

Drive the governance and oversight of the Underwriting Risk Management process:Actively review new business proposals and navigate the internal review process.Orchestrate dynamic and engaging Underwriting Risk Management Committee meetings.Foster collaboration and strategic decision-making within the committee.

Credit Risk:

Lead enhancements to the credit risk management framework:Perform analysis of credit risk by reviewing credit portfolio trends and key risk indicators.Engage with the Auto Finance Credit risk team to gain deeper insights into credit risk assessments and apply this knowledge to analyze credit risk.Collaborate with the Underwriting Team to address underperforming accounts, stay informed about actions taken, and monitor strategies to improve the credit quality of the portfolio.Oversee indirect counterparty exposure to financial institutions by reviewing credit risk reports and monitoring account balances to ensure they are within allowable limits.Demonstrate expertise in credit risk by refining and expanding our Credit Risk Key Risk Indicators, enabling leadership to better understand emerging risks.

 

New Products:

Support the review and management of risks and impacts associated with the launch of New Products and Strategic Initiatives by assessing and mitigating risks.

 

Ad Hoc Assignments:

As part of your role, you will have the opportunity to tackle exciting ad-hoc assignments that arise within the business. These assignments may involve:Engage with leaders and team members across the organization to develop and implement strategic plans to address isolated or systemic challenges.Identify areas for improvement in existing processes and practices, and actively seek innovative solutions to enhance efficiency and effectiveness.Drive positive change by implementing improvements and ensuring smooth operations throughout the business.Embrace the opportunity to make a significant impact and contribute to the overall success and growth of the organization.Support and facilitate Ally Insurance's governance structure, including updating policies and charters, and reporting to management committees and council.Engage the leadership team in thoughtful discussions on top emerging risks and report outcomes to the Risk Management Committee.Drive improvements in how Risk Limits and Key Risk Indicators are used to monitor and report risk exposures in the business.Support the completion of regulatory filings to ensure compliance with industry regulations.Promote an effective risk culture by embodying strong governance and risk management practices and fostering a deep understanding of business risks. The Skills You Bring

Bachelor's degree required with a concentration in business, finance, or related field preferred3 years of applicable experience preferred Strong command of MS Office (PowerPoint, Excel, and Word)Effective oral and written communication skillsExperience with Insurance and/or Enterprise Risk ManagementHigh level of problem-solving capability and research-oriented skillsEfficient organizational and time management skillsStrong project management skillsKeen attention to detail Experience in building strong relationships/partnershipsStrong interpersonal skills, adept at building effective connections with others How We'll Have Your Back

Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. Our Total Rewards program includes industry-leading compensation and benefits plus additional incentives that are designed to meet your needs and those of your family so you can get the most out of your career and your life, including:

Time Away: 11 paid holidays, 20 paid time off days, and 8 hours of volunteer time off, yearly (paid time off is prorated based on start date) Planning for the Future: plan for the near and long term with an industry-leading 401K retirement savings plan with matching and company contributions, student loan pay downs and 529 educational save up assistance programs, tuition reimbursement, employee stock purchase plan, and financial learning center and financial coach access.Supporting your Health & Well-being: flexible health and insurance options including medical, dental and vision, employee, spouse and child life insurance, short- and long-term disability, pre-tax Health Savings Account with employer contributions, Healthcare FSA, critical illness, accident & hospital indemnity insurance, and a total well-being program that helps you and your family stay on track physically, socially, emotionally, and financially.Building a Family: adoption, surrogacy and fertility assistance as well as paid parental and caregiver leave, Dependent Day Care FSA back-up child and adult/elder care days and childcare discounts.Work-Life Integration: other benefits including Mentally Fit Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs.Other compensations: depending on the role for which you are considered, you may be eligible for travel allowances, relocation assistance, a signing bonus and/or equity.To view more detailed information about Ally’s Total Rewards, please visit this link: https://www.ally.com/content/dam/pdf/corporate/ally-total-rewards-snapshot.pdf 

Who We Are:

 

Ally Financial is a customer-centric, leading digital financial services company with passionate customer service and innovative financial solutions. We are relentlessly focused on "Doing it Right" and being a trusted financial-services provider to our consumer, commercial, and corporate customers. For more information, visit www.ally.com.

 

Ally is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to age, race, color, sex, religion, national origin, disability, sexual orientation, gender identity or expression, pregnancy status, marital status, military or veteran status, genetic disposition or any other reason protected by law.

 

We are committed to working with and providing reasonable accommodation to applicants with physical or mental disabilities. For accommodation requests, email us at work@ally.com. Ally will not discriminate against any qualified individual who is capable of performing the essential functions of the job with or without reasonable accommodation.

Base Pay Range: $70000 - $100000 USDAn individual's position in the range is determined by the specific role, the scope and responsibilities of the role, work experience, education, certification(s), training, and additional qualifications. We review internal pay, the competitive market, and business environment prior to extending an offer.  Incentive Compensation: This position is eligible to participate in our annual incentive plan.