Ally Financial is turning to the fintech layoff pool to hire for multiple high-level positions within its technology solutions department, including a new director of software engineering and fellow site reliability engineer. 

During the $196 billion bank’s Q4 earnings presentation, Chief Executive Jeffrey Brown said Ally would look to recruit from the layoff pool, now swelling with those affected by job cuts — from Amazon, Microsoft and Apple, for example — made by tech companies preparing for an economic downturn ahead of 2023.

“The job market in technology is still extremely competitive, despite the news of recent layoffs in the tech sector,” Sathish Muthukrishnan, chief information, data and digital officer at Ally, told Bank Automation News. “Our talent team at Ally does watch those movements closely to see where there may be opportunities to engage candidates with highly sought-after skills who are interested in Ally and what we have to offer in terms of career growth and the freedom to innovate.”  

Along with two director-level posts filled in April, the bank has hired “several senior roles from tech companies” in recent years, a spokesperson for Ally said. 

Tech openings

Ally has more than 50 technology-related openings, according to its job board; the director, solution architect position is just one. 

According to the posting, the director’s main responsibility is technology strategy, serving “as the highest-level technical application and/or business architecture expert for our Enterprise Technology Operations organization.”  

Candidates for this position must have at least seven years of experience and in-depth technical knowledge of IT architecture standards. The bank is looking for expertise in cloud computing services such as Amazon Web Services and VMware, as well as containerization products like OpenShift and other relevant technologies, according to Ally’s website. 

Finding the right candidates

Ally is focused on narrowing a field of candidates for technology-related roles. Grant Resick is a partner at executive search firm Parker Remick, which works with public and private technology companies. Resick told BAN that his company looks for specific skills and experience when hiring for such positions. 

“We try to create a broad pipeline of candidates that come from a range of backgrounds and experiences. Typically, this means a mix of people from startups, larger high-growth companies as well as some from [Facebook, Amazon, Apple, Netflix and Google],” he said. “Among finalists, we typically ask other leaders in our network who have worked with the candidates to give their impression as well as standard candidate-provided references.” 

The bank aims to remain a force within the digital space, proven by continued digital investment in Q1, with its plethora of technology-related openings, signaling that Ally remains committed to its tech focus, Muthukrishnan said. 

“Technology is the heart of Ally,” he said. “Being a tech-forward company is a unique business model in financial services.”