Ally Financial Insurance Risk Analyst in Detroit, Michigan
Sep 7, 2016
Ally Financial Inc. is a leading automotive financial services company powered by a top direct banking franchise with the opportunity, experience and people to redefine the industry.
Ally's automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Corporate Finance unit provides financing to middle-market companies across a broad range of industries.
Business Unit/Enterprise Function
Ally Financial's Risk function manages and analyzes Ally's exposure to internal and external risk factors. The function strives to achieve an appropriate balance between risk and return, to limit unnecessary risk, and to protect the company's financial returns.
Ally Insurance is a subsidiary of Ally Financial and is a leading global provider of automobile-related insurance and reinsurance products for automobile dealers and their customers.
Ally Insurance works with automotive dealers and their customers to provide insurance solutions through our portfolio of products. We market vehicle service and maintenance contracts, such as the industry-leading Ally Premier Protection. Ally Insurance also services the insurance needs of our dealers' businesses by offering dealer inventory insurance, and liability and property protection.
This position offers an excellent and challenging opportunity to apply financial risk management principles to an insurance business that is a subsidiary of a large financial institution. It is the purpose of the Ally Insurance Risk Management organization, to establish and maintain effective controls and tools for the management of risk that may impact, among other things, earnings, capital adequacy, liquidity, and reputation. To identify, measure, and manage these and other risks, Risk Management strives to implement effective internal controls, provide timely and reliable management information, and develop processes and metrics to monitor exposures.
- Identify current and emerging risks and associated outcomes. Carefully consider and take appropriate action to escalate and mitigate these risks in an effort to protect the reputation and long term viability of the company.
- Develop and maintain frameworks including risk management strategies, risk appetite monitoring, risk identification and assessment, stress testing and scenario analysis, risk solvency assessments, risk management policies and procedures, and risk reporting.
- Improve how risk indicators are used to monitor and report risk exposures in the business. This includes reporting changes material to the business that could impact prospective capital levels, and implementing additional metrics based on the output from capital modeling as well as general changes to the business.
- Increase the use of competitive intelligence in risk tracking, including benchmarking risk exposures against peers.
- Conduct analyses on existing investment guidelines, asset allocations, prospective changes to the investment portfolio and their implications
- Training and professional development is expected to be an integral part of the role, including the pursuit of professional designations and/or certifications
- High level of problem solving capability and research-oriented skills
- Well-organized and detail-oriented work ethic
- Ability to adapt to change quickly
- Strong Communication skills both written and verbal.
- Bachelor's degree in risk management, finance, economics, mathematics, statistics, or related field
- Strong skills in MS Excel and PowerPoint
- Must be authorized to work in the US on a permanent basis
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. Ally's Total Rewards Program is designed to enrich your life at work -- and outside of it and includes:
- 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.
ALLY JOB REQUISITION: 16-6073
POSITION LEVEL: Experienced
AVAILABLE WORK LOCATIONS: Michigan (Detroit)