Director Fraud & Surveillance, Ally Invest

Published
April 14, 2019
Location
Charlotte, NC
Job Type

Description

Position Description
At Ally, every individual is a risk manager. In alignment with our risk culture, this position will ensure the appropriate identification, assessment, and measurement of risk related to Ally Invest. Further, appropriate solutions will be deployed to mitigate, control, monitor, test, and report identified risks. When necessary, identified risks will be escalated to the appropriate channels to ensure a reasonable resolution.

The Director Fraud & Surveillance is responsible for managing change efforts across Ally Invest driven by regulatory change and issue identification in support of all aspects of the Ally Invest Fraud and Surveillance programs. The Director will lead efforts to evaluate impacts of change, assess options and select appropriate action plans that achieve compliance and/or address the root cause, and will guide the efforts through to implementation, including appropriate new monitoring, testing and controls. This role will often need to work across various business and functional lines to collaborate on solutions and secure appropriate resourcing and prioritization. As a leader on this team, the role will be responsible for partnering with Risk and Compliance teammates to enhance risk frameworks leveraging knowledge of both enterprise and Invest-specific policies, standards and procedures.

This will be a hands-on role in helping to establish a robust fraud and surveillance management framework for Invest. The Director of Fraud and Surveillance will report to the Senior Director of Compliance at Ally Invest and be responsible for the critical aspects of internal as well as external fraud, surveillance, monitoring and investigations. This person will lead a team of professionals ensuring compliance with regulatory requirements, company policies and procedures, and maintain a best in class fraud and surveillance processes, systems and strategies.

The role will require solid planning and project management skills, ability to understand requirements and design practices that optimize efficiency with legal and compliance and ensure monitoring and testing are in place to identify risks and confirm the controls that meet internals standards and compliance requirements. The position involves frequent interaction with all levels of the organization and with all Business Lines and Enterprise teams. Ally Invest includes a FINRA registered broker-dealer, a SEC-registered Advisor, Futures and Forex lines of business.

Job Responsibilities

  • Maintain regulatory responsibility and oversight of the Invest business line Fraud and Surveillance Program.
  • Provide oversight of surveillance related functions such as employee monitoring, employee account reviews, AML, client trade activity, market manipulation, large trade orders, insider trading, restricted securities, low priced equities and risk and suitability-based reviews.
  • Partner effectively with senior business leaders in the development, implementation and monitoring of an effective risk-based Fraud and Surveillance Program.
  • Act as the primary point of contact for fraud inquiries from other lines of business and document investigations of fraud activity and regulatory reporting as required.
  • Provide leadership on defining an approach for fraud and surveillance related technology based on leading industry practices.
  • Provide requested information to regulatory agencies (FINRA, SEC, Etc.) and internal/external auditors, as needed.
  • Perform investigations and document cases related to fraudulent activity and surveillance oversight.
  • Provide oversight of fraud related activities such as 41st parameter, identity theft, and account takeovers.
  • Oversee and direct a team responsible for reviewing large data sets to discover transaction patterns and filter for targeted information using traditional as well as predictive/advanced analytic methodologies.
  • Prepare metrics in support of management and board-level reporting and ensure the creation of reports to assist the other Ally Enterprise functions with forecasting and operational improvements (trending, production metrics, etc.)
  • Ensure the creation and maintenance of adequate documentation to support strong governance for fraud and surveillance.
  • Perform periodic risk assessments of processes and technology to identify gaps and opportunities for optimization.
  • Develop processes and controls to resolve risks and issues; escalating as appropriate to keep management informed.
  • Identify and monitor risk themes across the business line to help mitigate issues
  • Ensure compliance to new and existing risk management policies and standards via monitoring, testing and reporting

    Qualifications

  • Ability to think strategically, use sound judgment, and balance short and long- term risk decisions
  • Comfortable with appropriate challenge and escalation
  • 10+ years' experience in Fraud & Surveillance or applicable line of business (e.g., compliance, testing and monitoring, or audit), preferably in financial services or similar industry
  • Extensive knowledge of fraud, compliance, risk and surveillance methodologies
  • Ability to synthesize fraud and surveillance and business knowledge into a strategic vision
  • Licensing: SIE required provided that an exemption or grandfathering cannot be applied, FINRA Series 7, 63 and 24 or 9 and 10 required.
  • Must be self-motivated, willing to take on the initiative, and capable of working independently
  • Strong project management and ability to establish programs that require coordination/collaboration across Invest and broader enterprise
  • Demonstrated leadership ability as an individual contributor or small team leader
  • Ability to effectively manage and mitigate situations that have a potential for conflict
  • Demonstrate excellent communication and influencing skills with the ability to work cross-functionally with varying levels throughout the organization
  • Ability to support multiple assignments, handle competing priorities, and work with teammates to ensure deadlines are met
  • Proficiency in computer applications and analysis
  • Expert proficiency with MS Excel, MS Word, and MS PowerPoint. Visio is preferred
  • BS/BA or advanced degree strongly preferred

    Total Rewards
    Ally's Total Rewards Program Is Designed To Enrich Your Life At Work -- And Outside Of It And Includes

    Ally's compensation program offers market-competitive base pay and pay-for-performance incentives (bonuses) based on achieving personal and company goals. Plus, we have a flexible paid-time-off program including time off for volunteer opportunities.

  • Industry-leading 401K retirement savings plan with matching and company contributions
  • Wellness program encouraging healthy living with financial rewards
  • Flexible health insurance options including dental and vision
  • Pre-tax Health Savings Account with generous employer contributions
  • Pre-tax commuter benefits

Other work-life integration benefits including parental and caregiver leave, adoption assistance, backup child and adult/elder day care program, child care discounts, tuition reimbursement, LifeMatters® Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs

Ally is an Equal Opportunity Employer
We extend equal employment opportunities to qualified applicants and employees on an equal basis regardless of an individual's 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.

Company Description

Ally Financial Inc. (NYSE: ALLY) is a leading digital financial services company and a top 25 U.S. financial holding company offering financial products for consumers, businesses, automotive dealers and corporate clients.

Ally's legacy dates back to 1919, and the company was redesigned in 2009 with a distinctive brand, innovative approach and relentless focus on its customers.

Ally has an award-winning online bank (Ally Bank, Member FDIC), one of the largest full service auto finance operations in the country, a complementary auto-focused insurance business, a growing wealth management and brokerage platform, and a trusted corporate finance business offering capital for equity sponsors and middle-market companies.

We extend equal employment opportunities to qualified applicants and employees on an equal basis regardless of an individual’s 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.

Women’s Choice Award- Best Companies to work for Women and Millennials, 2018
The Charlotte Observer Top Work Places, 2017
Detroit Free Press Top Work Places, 2017
Charlotte Business Journal Best Places to Work, 2017
Dallas Business Journal Best Places to Work, 2017
American Banker Best Banks to Work For, 2017
Crain’s Detroit Cool Places to Work in Michigan, 2017
Corp! Magazine Michigan’s Economic Bright Spots, 2017