ABA Bank Compliance - July/August 2014

The Best of the Best

Meet Dan Soto. In the role of Chief Compliance Officer for
Ally Financial, Soto is responsible for leading the company’s
compliance efforts in-line with applicable laws, regulations
and company policies. However, Lucy Griffin, President of
Compliance Resources, gives us more insight into his industry
contributions: “Dan consistently exhibits a talent for connect-
ing bankers and regulators, whether he’s managing risk or
building expertise in the industry. He leverages his talent not
only in his day to day responsibilities, but in service to the in-
dustry as an instructor, internationally recognized speaker, and
subject matter expert.”
And Griffin is right; Soto continually pays it forward. Soto
was the founding Chair of the Association of Certified Anti-
Money Laundering Specialists, and he has served on the ABA
Blue Ribbon Committee and ABA Compliance Executive
Committee. He is a faculty member of the ABA’s National
Compliance School and a presenter at the ABA’s National
Compliance Conference. He also served on the U.S. Treasury’s
Bank Secrecy Act Advisory Group.

On June 8th, at this year’s Regulatory Compliance Conference in New Orleans, the ABA acknowledged Soto’s extensive contributions to the industry by presenting him with its 2014

Distinguished Service Award. Each year this award is given to the compliance professional who demonstrates outstanding leadership, initiative, and accomplishment in service to the regulatory compliance management profession.

If you ask Soto’s colleague, Thomas Healy, Senior Compli-
ance Director at Ally Bank, he will tell you how Soto’s leader-
ship and initiatives have helped solve some of the unique
challenges the financial industry faces today. However, he
seems most impressed with Soto’s desire to give back: “Dan’s
tireless effort, both through his work and his deeds, to educate
those outside and inside the profession, continues to inspire us
to be the best we can be.”
Soto shares his philosophy, “It’s really just about people.
We are in a technology-driven industry, but ultimately, people
make decisions. My motto is put yourself in the other person’s
shoes––everyone has a unique story.” And Soto’s story is cer-
tainly unique. As he regales post-911 challenges in an industry
that needed veiled change, it is evident why industry profes-
sionals look to him for leadership. When asked his greatest
professional achievement, Soto responds, “It’s what didn’t hap-
pen that has been the most important to me. How do you pre-
vent terrorism without stopping financial transactions, while
making sure another event doesn’t happen? We hear about
what does happen, but there were so many things that we

HIGHLIGHTS | BY LAINE CROSBY

Daniel D. Soto Named 2014
Distinguished Service Award Winner

SKILLED IN FINANCE, TECHNOLOGY, OPERATIONS, government regulations and more, compliance xecutives work on the front lines and also behind the scenes to make sure their banks run sustainable and repeatable processes. There is a talent inherent in the title of Chief Compliance Officer––managing the organization’s risk while keeping the bankers smiling. The best of the best are proficient jugglers, while finding the time to help others along their career paths.