The Ally Invest AML Compliance Senior Director and AML Officer is the named AML Compliance Officer for Ally Invest and reports to the Ally Executive Compliance Director/BSA Officer. The AML Officer is responsible to develop, execute and oversee the AML and Sanctions programs across Ally Invest Group, Inc and subsidiaries (includes Securities, Advisors, and FOREX collectively "Ally Invest"). The AML Officer works with Senior Leaders within the Business Line and Independent Risk Management (IRM) to influence a strong culture of compliance throughout the business and ensure that all AML regulatory requirements are appropriately implemented and executed through strong policies and programs to prevent and detect money laundering. The AML Officer communicates regularly with business executives, other Compliance groups, vendors, and regulatory bodies (FINRA, SEC and FRB) on sensitive and complex matters. This role directly and indirectly manages a team of AML Compliance employees who support the Ally Invest AML Program and ensures that all AML regulatory requirements are met across the firm, including the filing of Suspicious Activity Reports (SARs). The role also provides central oversight and counsel to the Ally Invest Chief Compliance Officer (CCO) and other Ally Invest Business Line leaders. This position utilizes deep compliance experience and overall knowledge of the industry to work across departments in areas of AML.
Â· As named AML Officer for Ally Invest, responsible for ensuring that all aspects of Ally Invest's AML program meet regulatory requirements, including the timely filing of Suspicious Activity Reports (SARs).
Â· Establishes strategic direction for Ally Invest AML Program and revises Program when necessary based on changing trends, including changes in the Ally Invest business operations, relevant risk factors, or obligations under applicable laws.
Â· Ensures that the Ally Invest AML Program harmonizes and aligns with the overall policy and requirements of the Ally Enterprise Program, while balancing broker/dealer specific regulations, guidance and industry practices.
Â· Maintains thorough and relevant knowledge of applicable rules, regulations, and policy initiatives regarding the elements of the program, and develops and maintains relationships with key regulators and industry colleagues to stay abreast of and leverage best practices to ensure that the program meets industry standards and regulatory expectations.
Â· Utilizes broad and deep comprehension of evolving regulatory requirements to anticipate impact to the operations and strategy of Ally Invest proactively adjust AML Program to maintain an acceptable level of AML risk. Proposes, develops, and executes strategic and tactical plans aligned to Ally and business priorities, as appropriate.
Â· Applies strong subject matter expertise of brokerage and AML requirements to Ally Invest new product initiatives and provides Invest-specific feedback on Ally enterprise products or initiatives that may impact Invest, to influence business direction in a manner that complies with regulatory requirements and expectations.
Â· Partners with other departments throughout Ally Invest (including, but not limited to, Fraud, Compliance, Trade Surveillance and Operations) to ensure that all relevant SARs are filed.
Â· Partners with senior management and others to surface, investigate, and resolve potential AML compliance issues, including those related to business or customer risks and execution of the AML Program. Identifies and implements broad solutions to problems with no supervision.
Â· Establishes relationships with senior leaders in order to influence compliance objectives.
Â· Interacts routinely with the Management Committee, Brokerage and Wealth Management Steering Committee, Legal and government agencies and industry associations to include but not limited to SEC, Treasury Department, Department of Justice, and FINRA.
Â· Reports to the Brokerage and Wealth Management Steering Committee regularly on the overall health of the Ally Invest AML Program, any issues of compliance with the Program, including the sufficiency of the resources provided to fulfilling the Program.
Â· Oversees Ally Invest training relating to AML, Anti-Bribery, and Sanctions Programs.
Â· Participates on the Firm's Brokerage and Wealth Management Steering Committee to cultivate a culture of compliance and ensure overall awareness of relevant AML risks and requirements related to current business operations and future business strategy.
Â· Reviews FINRA audit or regulatory issues and reports, researching and engages departments to investigate and replies to FINRA with appropriate response.
Â· Supervises the day-to-day workload of a team of AML Compliance employees, including quality and timeliness of any AML-related process outsourced to the Ally Enterprise team.
Â· Bachelor's Degree
Â· CAMS certified
Â· FINRA Series 7 and24 licenses required or the ability to obtain within 120 days of assuming role
Â· 12+ years of experience in AML Risk Management with superior knowledge of AML practices
Â· Previous experience with wealth management/brokerage operations
Â· Broad and deep comprehension of how evolving regulatory requirements impact the operations and strategy of Ally.
Â· Extensive experience interacting with federal and state regulators; ability to communicate effectively, using good judgement.
Â· Executive presence, with proven ability to interact successfully with senior management
Â· Experience managing a team of professionals
Â· Experience influencing and leading organizational change; excellent project management skills
Â· Ability to communicate complex regulatory requirements and risks that impact the business line into tangible recommendations and/or action
Â· Ability to work cooperatively and builds consensus with others at senior management level, even when faced with conflict
Â· Ability to approach complex or difficult situations with diplomacy; understands political environment and anticipates peripheral effects
Â· Ability to exercise independent thought and judgment and adapt to new tasks with little notice.
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 Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer care. A subsidiary of Ally Financial Inc. and member FDIC, the bank offers online savings, interest checking, money market accounts, certificates, and IRA Plans and products. Ally Bank has been named "Best Online Bank" for five of the past seven years by MONEYÂ® Magazine.
Total Rewards Information
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: Ally Invest AML Officer, Sr. Director
Company: Ally Financial Inc.
BU Function: Compliance
Experience Level: Experienced
Requisition ID: 19-6274