Manager - CRA Investments

Ally’s Community Reinvestment Act (CRA) team is a highly specialized group within the Bank dedicated to positively impacting communities across our assessment area through CRA-qualifying loans, investments, and services. All FDIC-insured banks are required to comply with the CRA. However, at Ally CRA is not just a regulatory requirement; rather, it is a passion shared by the CRA team in managing a $5+ billion portfolio of loans and investments that finance affordable housing, community services, economic development, and neighborhood revitalization.

The Manager - CRA Investments will report to the Senior Director/Director – CRA Investments and assist in managing and monitoring the CRA Investment portfolio, including the underwriting of new investments into small business investment companies (SBICs), community development venture capital (CDVC) funds, and affordable housing and preservation funds

At this time, Ally will not sponsor a new applicant for employment authorization for this position.

• Participate in the due diligence, underwriting and closing of various types of Community Development (CD) equity investments by:
• • performing research, economic and financial analysis
  • drafting internal investment memos and participating in the internal investment approval process
  • negotiating legal agreements
  • administrative closing of transactions
• Perform ongoing portfolio management and monitoring tasks, including the following:
• • managing and reviewing fund reporting documents and monitoring data
  • working with internal stakeholders and external fund managers on regular basis
  • reviewing CRA qualification criteria relevant to each transaction
  • staying up to date on relevant industry and market trends
  • sending and receiving capital to/from investment counterparties (capital calls/distributions)
• Curiously seek areas of improvement and develop efficient ways to reconfigure current processes
• Participate in Ally Bank’s community outreach programs, including volunteer and leadership opportunities with non-profit organizations, to contribute to the Bank’s CD service hour requirements
• Support and prepare materials related to internal meetings, CRA activities, etc.
• Engage with and represent Ally Bank at industry and trade association groups, requiring occasional travel
• Assist with any other task as requested by the Senior Director/Director – CRA Investments or CRA Office
  

• Time Away: Program starts at 20 paid time off days in addition to 11 paid holidays and 8 hours of volunteer time off yearly (time off days are prorated based on start date and program varies based on full or part-time status and management level).
• Planning for the Future: plan for the near and long term with an industry-leading 401K retirement savings plan with matching and company contributions, student loan pay downs and 529 educational save up assistance programs, tuition reimbursement, employee stock purchase plan, and financial learning center and financial coach access.
• Supporting your Health & Well-being: flexible health and insurance options including medical, dental and vision, employee, spouse and child life insurance, short- and long-term disability, pre-tax Health Savings Account with employer contributions, Healthcare FSA, critical illness, accident & hospital indemnity insurance, and a total well-being program that helps you and your family stay on track physically, socially, emotionally, and financially.
• Building a Family: adoption, surrogacy and fertility assistance as well as paid parental and caregiver leave, Dependent Day Care FSA back-up child and adult/elder care days and childcare discounts.
• Work-Life Integration: other benefits including Mentally Fit Employee Assistance Program, subsidized and discounted Weight Watchers® program and other employee discount programs.
• Other compensations: depending on the role for which you are considered, you may be eligible for travel allowances, relocation assistance, a signing bonus and/or equity.
• To view more detailed information about Ally’s Total Rewards, please visit this link: https://www.ally.com/content/dam/pdf/corporate/ally-total-rewards-snapshot.pdf

Who We Are:

Ally Financial is a customer-centric, leading digital financial services company with passionate customer service and innovative financial solutions. We are relentlessly focused on "Doing it Right" and being a trusted financial-services provider to our consumer, commercial, and corporate customers. For more information, visit www.ally.com.

Ally is an equal opportunity employer committed to diversity and inclusion in the workplace. All qualified applicants will receive consideration for employment without regard to 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.

We are committed to working with and providing reasonable accommodation to applicants with physical or mental disabilities. For accommodation requests, email us at hrpolicy@ally.com. Ally will not discriminate against any qualified individual who is capable of performing the essential functions of the job with or without reasonable accommodation.