Consumer Default Manager

General Information

Primary Location: Grand Rapids MI

Employee Status: Full-Time

Workplace Type: Fully On-Site

Who we are:

At LMCU, you'll find more than just a job - discover a fulfilling career where your contributions truly matter. Join our talented team at Lake Michigan Credit Union and discover the difference an employer who puts people first can make in your career and life.

About this position:

The Consumer Default Manager role is responsible for planning, organizing, and directing the activities of the Consumer Default area. Makes final decisions regarding action on delinquent loans/accounts, including workout loans and extensions. Coordinates paralegal effort of delinquent accounts with the company's legal counsel. Refers charged off accounts and monitors results with collection agencies. Liaison with credit reporting agency to assure files are properly maintained. Represents the company in small claims, municipal and bankruptcy courts. Conducts risk analysis and mitigation. Identifies risk management issues and trends and provides reporting to management.

What you’ll do:

• Supervises all Early Default staff. Tracking and monitoring employee's progress towards goals and standards. Ensures completion of all work by staff is accurate and within the timelines and practices established by federal, state, and corporate guidelines. Will review, interview, and select qualified candidates for open positions. Conduct performance evaluations and assist team in achieving their full potential.
• Analyzes Risk Management trends and communicates results to management.
• Recommends strategies to address negative trends and isolation of impacting factors and/or risk factors which have been identified.
• Responsible for ensuring the department maintains compliance with all applicable federal and state laws, regulations and guidelines, adheres to Credit Union policies and procedures and completes required training.
• Proactively analyzes monthly losses, identifying and projecting subsequent month’s losses and delinquency ratios and numbers.
• Prepares and maintains required records and reports regarding consumer loan servicing activities to remain in compliance with SOX regulations and internal controls.
• Facilitates monthly charge-off review meeting to discuss charge off and loss trends with management.
• Arranges the sale of repossessed lease collateral; determines additional investment to be made in collateral and maintains vendor relationships with repossession agencies and auctions.
• Oversees and completes all projects as assigned. Keeps management apprised of all critical issues.
• Must comply with applicable laws and regulations, including but not limited to, the Bank Secrecy Act, the Patriot Act, and the Office of Foreign Assets Control, Fair Debt Collection Practices, Telephone Consumer Protection Act, Service Members Civil Relief Act.

What you’ll bring:

• Five to eight years of similar or related experience.
• Excellent written and verbal communication skills.

What you’ll get:

• All Employees: weekly pay and retirement savings options.
• Full Time Employees: comprehensive health coverage including medical (with prescription), dental, vision, HSA match, paid parental leave, and tuition reimbursement.
• To see a full list of our benefit offerings, check out this helpful guide!

Have additional questions about the role? Email the Talent Acquisition Team at: [email protected] .

If you lack access to the internet or require an accommodation in the application process, please send your resume via mail to P.O. Box 2848, Grand Rapids, MI 49501-2848.

LMCU is an Equal Opportunity Employer