This position reports directly into the President of Ally Invest and dotted line to the Executive Leader CCO Ally Bank and is responsible for providing overall strategic direction through developing, implementing and enforcing Ally Invest Compliance programs. The role will lead and champion compliance programs for Ally Invests Broker-Dealer and Registered Investment Advisor and will ensure the firm has in place processes to establish, maintain, review, test and modify written compliance policies and written supervisory procedures. The procedures designed should reasonably meet FINRA and SEC regulatory rules as well as Federal and other applicable laws. The role will design, implement and maintain a compliance strategy and structure while working collaboratively with the President, Legal, and Sr. Leadership team and serves as the lead for the firm's compliance committee in support of the compliance strategy. The individual is responsible to implement and monitor the day-to-day operations and internal controls of Invest compliance policies/programs. This role will independently make a broad range of critical decisions, escalating to executive level when appropriate and will serve as the compliance lead for all regulatory matters, inquiries, audits and examinations as well as routinely coordinates with Ally legal counsel, Ally Risk Management and other Ally functions to resolve, among other things, vendor and significant customer disputes. This role supervises a team of 10+ employees and provides central oversight and counsel to the President and other key leaders across the Ally Enterprise. The ideal candidate should have 15+ years of compliance experience in Brokerage & Wealth management with Office of Supervisory Jurisdiction (OSJ).
Drives execution and oversight to develop, implement and enforce overall compliance strategy by offering perspectives to help evolve the business and works in partnership with Ally Enterprise Functions.
Interacts with the Management Committee, Board of Directors, Legal and government agencies and industry associations to include but not limited to SEC, Treasury Department, Department of Justice, FINRA and all state regulatory agencie and serves as a member on the Invest Risk Committee.
Champions compliance process improvements or best practices/processes that contribute to the development and execution of strategies that align with the firm's overall Compliance vision and its current and long-term business objectives.
Maintains current knowledge of FINRA, SEC and NFA rules, regulations, and policies while serving as the primary liaison and contact point with securities regulatory authorities to assist in the resolution of compliance issues arising from securities regulatory audits and examinations.
Reviews and investigates FINRA audit or regulatory findings, issues and reports. Engages impacted department(s), securities principals or subject matter experts to coordinate appropriate regulatory response.
Leads and/or contributes to firm's remediation projects to address issues, and employs best practices in response to Internal Audit, regulatory or other findings.
Supervises the review of the preparation and execution of regulatory filings concerning registration, advertising/sales literature, and customer's complaint and oversees securities registration process for registered representatives and registered principals.
Evaluates operational issues and gaps against regulatory requirements and best practices, and makes recommendations, escalating matters and issues to upper management as appropriate.
Leads and oversees Invest training programs as it relates to annual compliance meetings and updates
Establishes, maintains, reviews, tests, and modifies written compliance policies and written supervisory procedures
Other duties as assigned or required
Some travel may be required
FINRA Series 7, 63, 24 licenses required
15+ years of experience in Brokerage/Trading Services environment with superior knowledge of FINRA Compliance practices or prior investment or financial operations related experience
Executive presence, with proven ability to collaborative successfully with senior leaders across the Enterprise
Experience in influencing and leading organizational change and interacting effectively with business partners and all levels of organization
Extensive understanding and exposure to financial service/trading/clearing industry and how to operate within a highly regulated industry
Exceptional industry acumen, relationship-building skills and ability to deal with internal/external resources across Enterprise
Ability to think and act both strategically and tactically, strong communicator who can effectively process constructive feedback while always keeping the corporate and end user goals in mind.
Able to work independently and with a team to handle all issues while working under strict time constraints
Extensive experience interacting with federal and state regulators (FINRA, SEC, NFA)
Strong negotiation skills with influencing and leading organizational change
Excellent program management, written and oral communication skills, as well as highly detail-oriented
Ability to exercise independent thought and judgment and adapt to new tasks with little notice
Experience with Microsoft Office Suite (Word, Excel, Outlook, Power Point)
Knowledge or experience working in financial services and/or other regulated environment is a plus
Bachelor's Degree or equivalent business experience
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 (member FDIC), one of the largest full-service auto finance operations in the country, a complementary auto-focused insurance business, a growing digital wealth management and online brokerage platform, and a trusted corporate finance business offering capital for equity sponsors and middle-market companies.
Business Unit/Enterprise Function
Ally Invest, launched in May 2017, is the brokerage and wealth management offering from Ally. The offerings consist of a trading platform for self-directed investors, as well as a suite of automatically managed investment portfolios. The Ally Invest team is responsible for ensuring the technology and service of the platform with a focus on award winning customer service and outstanding user experience.
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, LifeMattersÂ® Employee Assistance Program, subsidized and discounted Weight WatchersÂ® 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.
Job Title: Executive Compliance Director & CCO, Invest
Company: Ally Financial Inc.
BU Function: TradeKing
Experience Level: Experienced
Requisition ID: 19-5375