Ally Bank 2011 Annual Report Download - page 247

Table of Contents
Ally Financial Inc. • Form 10−K
Other NEO Compensation
Mr. Carpenter, in consultation with the Compensation Committee and the Board, established the priorities for Ally and each NEO at the beginning of
the year. Each is a member of the Management Council, a group which is responsible for the strategic direction and overall performance of the Company.
Each NEO plays a key role in the stewardship and overall success of Ally and achievement of Ally's established performance objectives. Therefore, the
2011 Ally accomplishments outlined in the CEO Compensation section above were the main deciding factors in determining the incentive compensation
awards provided to each NEO for 2011. In addition to the accomplishments of Ally, the Committee also considered each NEO's individual accomplishments
discussed below in a non−formulaic manner. When awarding incentive compensation grants to individual NEOs, the Committee is limited in the awards that
can be granted as governed by the TARP compensation rules discussed above.
Jeffrey J. Brown — Senior Executive Vice President of Finance and Corporate Planning of Ally since June 2011. Mr. Brown oversees the finance,
treasury and corporate strategy activities of the company. In making the incentive compensation award determination for Mr. Brown, the Committee
considered the performance objectives and accomplishments of Ally. The significant additional 2011 performance objectives and accomplishments for Mr.
Brown are included in the table below.
2011 Performance Objectives 2011 Accomplishments
Maintain a strong capital and liquidity profile Improved cost of funds in 2011, as compared to 2010
Implement expense and process improvements in the Treasury department Significantly reduced spending in Treasury business while maintaining
appropriate staffing level to complete business objectives
Attract new investors to the business and focus on continued international
funding expansion Completed new funding transactions totaling $38 billion during the year
Position Ally to repay the United States Department of Treasury as soon as
practical The United States Treasury sold $2.7 billion of Trust Preferred Securities to third−party investors
To date, Ally Financial has paid $5.4 billion to the United States Treasury
including preferred dividends
Thomas Marano — Chairman and Chief Executive Officer of Ally's Mortgage operations and, as of May 1, 2009, Ally's Chief Capital Markets
Executive. As CEO of Mortgage operations, Mr. Marano oversees mortgage lending and servicing at Residential Capital, LLC (ResCap) and ResMor Trust
(the Canadian depository) and the correspondent and warehouse lending at Ally Bank. In making the incentive compensation award determination for Mr.
Marano, the Committee considered the performance objectives and accomplishments of Ally. The significant additional 2011 performance objectives and
accomplishments for Mr. Marano are included in the table below.
2011 Performance Objectives 2011 Accomplishments
Manage risk through the current market volatility to minimize earnings
volatility / maximize revenues Assisted Capital Markets team with generating $1.1 billion of revenue at Ally IM, Ally Bank and GMAC Insurance
Manage expenses in line with company wide initiatives Achieved planned expense reductions in targeted areas
Reduce non−core assets Generated gains through non−core asset sales
Demonstrate commitment to home ownership preservation Completed more than 765,000 default workouts for borrowers since 2008
Barbara Yastine — Chief Administrative Officer of Ally since May 2010. Ms. Yastine oversees the risk, compliance, legal, and technology functions,
and also serves as the Chair of Ally Bank. In making the incentive compensation award determination for Ms. Yastine, the Committee considered the
performance objectives and accomplishments of Ally. The significant additional 2011 performance objectives and accomplishments for Ms. Yastine are
included in the table below.
2011 Performance Objectives 2011 Accomplishments
Continue to build Ally Bank with a strong consumer value proposition and
expended product offerings Achieved strong deposit growth and high CD retention rates at Ally Bank
Introduced new Investment Retirement Accounts, Ally Perks and eCheck
remote deposit products at Ally Bank
Implement strategies to drive cultural change objectives and foster
transparency, escalation, accountability and consistency Improved employee communications, updated management
Led cross−functional effort to design enterprise risk management framework
to clarify expectations, roles and responsibilities, empowered
lines−of−business (LOB), drove greater cooperation among LOB and
functions with respect to effectively addressing operating risks while reducing
duplication
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