Job Description

Position Description

Reporting to the Director of Loan Administration this role is responsible for administering the quality control procedures. The Quality Control Associate works alongside the Loan Closing Group and core business teams in closing new deals and modifications on existing portfolio loan accounts to ensure compliance with Ally CF policies and procedures and regulatory compliance (Flood Insurance, OFAC and Know Your Customer). This position leverages strong working relationships with the core business teams (underwriters and portfolio managers), Operations, Accounting, Legal, Compliance and Credit/Risk functions. Individuals at this level work independently and have a working knowledge of the deal closing process which includes underwriting, documentation, regulatory and operational requirements as well as regulatory and Fed reporting requirements.

Job Responsibilities

* Completing the pre- and post-closing Quality Control review for new transactions or loan modifications to detect and correct material errors
* Ensure contractual terms of client loans are consistent with credit approval and accurately reflected in the loan accounting system
* Ensure transactions are in compliance with Ally CF procedures and regulatory requirements for flood insurance, OFAC and Know your Customer
* Produce monthly reporting detailing status of Quality Control review
* Track required post close items identified during the closing process and produce monthly detailed status reports.
* Develop and maintain strong working relationships with CF's front-line employees and CF Management, and all other Corporate Functions (i.e. Legal, Compliance, Credit, Human Resources, Accounting and Financial Reporting)

Other responsibilities may include:

* Ad-hoc special projects
* Assist in compiling information required for internal and external audits

Qualifications

Experience/Education

* 3-5 years of experience in commercial lending with a minimum of 1-2 years of loan administration experience
* Broad understanding of the regulatory environment and sufficient knowledge/confidence to respond to general questions, needs and requests from business partners
* Education: BA or BS in Business Administration with a concentration in Accounting or Finance prefered

Skill Set

* Excellent communication (verbal and written), interpersonal and organizational skills
* Highly analytical, detail oriented with problem solving capability
* High level of accountability
* Ability to interface across corporate departments

Ally Overview

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 MONEY 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. But Ally's total compensation -- or total rewards -- extends beyond your paycheck and is designed to support and enrich your personal and professional life, including:

* Time Away: competitive holiday and flexible paid-time-off, including time off for volunteering and voting.
* Planning for the Future: benefits to help you plan for the near and long term including an industry-leading 401K retirement savings plan with matching and company contributions, student loan and 529 educational assistance programs, tuition reimbursement and other financial well-being programs.
* Supporting your Health & Well-being: flexible health and insurance options including dental and vision, pre-tax Health Savings Account with employer contributions and a total well-being program that helps you and family stay on track physically, socially, emotionally and financially.
* Building a Family: adoption, surrogacy and fertility support as well as benefits that help you take care of your family -- parental and caregiver leave, back-up child and adult/elder day care program and child-care discounts.
* Work-Life Integration: other benefits including LifeMatters Employee Assistance Program, subsidized and discounted Weight Watchers program and other employee discount programs.