Testing and Governance Analyst - Insurance Risk

Ally•Detroit, MI

6d•$55,000 - $95,000•Hybrid

About The Position

The Testing and Governance Analyst supports Ally Financial’s Corporate Insurance Department within Enterprise Risk. The role coordinates data requests for insurance submissions, analyzes risk data and industry trends, develops reports for senior leadership, and assists with the negotiation, construction, and maintenance of corporate insurance programs. It is based in the Detroit, Michigan office on a hybrid schedule, with several days in the office each week and some remote work; specific work requirements may change based on business needs or management discretion. The analyst works with business lines to understand their offerings, processes, and procedures while maintaining the independence needed for review and effective challenge. The position contributes to risk identification and mitigation, tests internal controls, supports monitoring and testing methods and tools, and recommends process and control improvements. It also supports issue remediation, governance, enterprise insurance risk policies, reporting, and documentation.

Requirements

At least 1 year of experience.
High school diploma or GED equivalent.
Experience performing testing and/or monitoring activities.
Ability to interact professionally with a variety of internal and external people and help foster resolution of risk gaps and issues.
Ability to make recommendations to maximize efficiency and effectiveness.
Knowledge of and experience with developing and implementing risk-management-related processes.
Familiarity with risk and control concepts.
Strong analytical and organizational ability.
Ability to multitask and adapt to a changing and developing environment.
Proficiency with Microsoft Office applications, including Outlook, Word, Excel, and PowerPoint.

Nice To Haves

Bachelor’s degree or higher in Accounting, Finance, Business Administration, Economics, or a related field.
At least 1 year of relevant experience in financial services and/or insurance industries.
Industry certification, such as CPCU or ARM.
Familiarity with GRC tools.

Responsibilities

Coordinate data requests for insurance submissions.
Analyze risk data and industry trends, including trends that may reveal irregularities in underwriting, claims, or premium calculations.
Develop reporting for senior leadership and detailed reports for internal stakeholders.
Assist with the negotiation, construction, and maintenance of corporate insurance programs.
Engage with business lines to understand their offerings, processes, and procedures while maintaining independence for review and effective challenge.
Assist in identifying risks and developing strategies for adequate mitigants and controls.
Maintain understanding of Ally’s monitoring and testing approach, methodology, and tools or technology.
Test the design and effectiveness of internal controls and recommend enhancements.
Identify opportunities to streamline monitoring processes through automation or Power BI.
Support initiatives to strengthen risk management frameworks.
Collaborate with stakeholders to resolve issues and implement corrective actions.
Validate that issue action plans address problems effectively and provide stable, long-term remediation.
Track reported tasks through resolution.
Document findings from tests and monitoring activities clearly and concisely.
Recommend process improvements or procedural enhancements based on tests and findings.
Monitor and drive business-line adherence to enterprise policies, and independently review and challenge business-line policies, standards, and procedures.
Support creation and implementation of the Enterprise Insurance Risk Policy and related standards, procedures, or committee charters.

Benefits

Market-competitive base pay and pay-for-performance incentives based on personal and company goals.
Paid time off starting at 20 days, 11 paid holidays, and 8 hours of annual volunteer time off; amounts are prorated based on start date and vary by employment status and management level.
401(k) retirement savings plan with matching and company contributions.
Student loan pay-down and 529 educational savings assistance programs.
Tuition reimbursement.
Employee stock purchase plan.
Financial learning center and financial coach access.
Medical, dental, and vision insurance options.
Employee, spouse, and child life insurance.
Short- and long-term disability insurance.
Health Savings Account with employer contributions and Healthcare FSA.
Critical illness, accident, and hospital indemnity insurance.
Total well-being program.
Adoption, surrogacy, and fertility assistance.
Paid parental and caregiver leave.
Dependent Day Care FSA, backup child and adult/elder care days, and childcare discounts.
Employee Assistance Program.
Subsidized and discounted Weight Watchers program and other employee discount programs.
Depending on the role, possible travel allowances, relocation assistance, signing bonus, and/or equity.
Eligibility to participate in an annual incentive plan.