Repayment Manager at Michigan Schools and Government Credit Union

Troy, Michigan, United States -

Full Time

Start Date

Immediate

Expiry Date

02 Aug, 26

Salary

79600.0

Posted On

05 May, 26

Experience

5 year(s) or above

Remote Job

Yes

Telecommute

Yes

Sponsor Visa

Skills

Collections Management, Loan Loss Mitigation, Foreclosure Management, Regulatory Compliance, Team Leadership, Financial Analysis, Budget Management, Risk Management, Conflict Resolution, Performance Evaluation, Strategic Planning, Member Experience Management

Industry

Banking

Description

Founded by a small group of educators, Michigan Schools & Government Credit Union (MSGCU) has been providing quality financial services to the community for more 70 years and welcomes everyone in Michigan to bank with us. We are financial champions committed to helping our members achieve financial success by rallying behind them and their goals. As the sixth largest Credit Union in Michigan, MSGCU has 24 branch offices in south east Michigan, over 450 team members, 150,000 members, $4 billion in assets, and a 97% member satisfaction rating for two decades. We are a caring organization that strives to ensure an equitable and inclusive culture where everyone is valued and respected. Our dedication to team member engagement has contributed to the honor of being named a Top Workplace by The Detroit Free Press thirteen years in a row. If you have a passion for helping people and providing exceptional and dependable service, we want you on our team! Information about our comprehensive total rewards package can be found here [https://www.msgcu.org/careers/benefits]. Overview of Responsibilities: Leads all repayments functions to ensure MSGCU’s financial objectives and strategic goals are met in accordance with MSGCU’s policies and state and federal government regulations, and in alignment with our desired member experience. Essential Duties and Responsibilities: * Delivers a superior member experience by effectively managing the Repayments team and ensuring a consistent, professional, and respectful approach to collections activity. Ensures team members listen for cues to determine members’ needs and courteously resolve member problems by suggesting applicable solutions. * Serves as MSGCU’s subject matter expert with regard to the collection of delinquent loans, charged off loans, share accounts, foreclosures, and related activity. Makes sound and timely decisions related to the Repayments function that keep the organization moving forward. * Consistently achieves results by controlling delinquency and charge offs, even under tough circumstances. Aligns individual, department, and organizational goals to drive consistent decision-making and accountability. Develops and implements effective approaches that protect the organization’s financial position while creating practical, member-centered solutions that support long-term success. * Builds and retains an effective, high performing team that applies their diverse skills and perspectives to achieve defined individual and team objectives. Drives engagement by aligning individual goals with organizational objectives and creating a healthy environment where team members are inspired to do their best and achieve results. * Holds self and team accountable to meet commitments and achieve goals. Monitors performance and takes corrective action as necessary when objectives are not attained and conducts accurate and straight forward performance evaluations. * Ensures compliance with state and federal regulations related to all aspects of collection activities. * Manages department effectiveness by: facilitating team meetings around areas needing improvement, changes to processes/procedures, new member programs, services, etc.; developing and managing the annual operating budget; ensuring that specific actions on collection accounts, e.g., legal action repossession, is authorized and acted upon in ways that align with MSGCU’s expectations. * Instills trust by gaining the confidence and trust of others through honesty, integrity, authenticity, and behaviors that align with organizational values. Makes responsible choices and exemplifies courage by stepping up to address difficult issues. Maintains a trusting relationship with direct team, peers, and manager. * Effectively communicates using various forms of communication (written, verbal, presentation) and understands the unique needs of different audiences. Tactfully resolves member concerns and inquiries in a manner consistent with MSGCU Values. * Models self-awareness by using a combination of feedback and self-reflection to gain productive insight into personal strengths and weaknesses. * Participates in planning and developing mid-range and near-term repayment goals that are aligned to the organization’s strategic objectives. Collaborates with other managers and colleagues to ensure alignment and appropriate resource allocation. * Directs the Repayments team’s work by providing clear direction, removing obstacles, delegating, and empowering. Develops the team’s knowledge, skills, and abilities to ensure continued effectiveness. * Effectively manages conflict and defuses high-tension situations with a minimum of noise by integrating diverse views to find common ground or acceptable solutions. * Models resiliency by maintaining a positive attitude and rebounding from setbacks and adversity when facing difficult situations. * Prepares recurring reports and analysis on key collection metrics, including loan loss allowances, delinquencies, and charge-offs. Interprets data to identify tends, evaluate performance, and provide recommendations that strengthen portfolio health and improve outcomes. * Ensures records relating to all aspects of collections, are systematically maintained and updated in an accurate, timely, and thorough manner. * Audits charged-off loans as required by the lending executive (quarterly or more frequently) to ensure proper placement with agency and satisfactory collection efforts. * Manages all aspects of the foreclosure process, including asset sales, short sales, and real etstate preservation. in accordance with Fannie Mae and government collection guidelines. * Manages communication regarding bankruptcy, charge-off loans, small claims court, garnishments, tax levies, etc. * Manages real estate workouts and modifications with members and reviews recommendations with lending executive as required. * Ensures collections related information is shared according to the lending executive’s direction regarding the nature, scope, and frequency, for purposes of effective decision making. Education and Experience Requirements: * Bachelor's degree in Business Administration, Finance, or related field required; and * 5 years of collections experience, preferably within a financial institution, with demonstrated knowledge of mortgage loss mitigation policies for conventional and government loans; and * 3 years of leadership experience with responsibility for management of a collections area. Working Conditions: * Office and branch location environment with little discomfort from noise, extreme temperature, dust, or other factors * Occasionally required to travel throughout the MSGCU's service area as business needs require. * Exposed to potentially hazardous conditions, such as robbery. Receives detailed instructions and security procedures on an annual basis to minimize risk. * This work involves sitting most of the time with brief periods of walking or standing and may occasionally require lifting and/or moving up to 25 pounds. Compensation and Benefits: Competitive salaries are just the starting point for MSGCU team members. Generous health benefits, vacation time, retirement plan contributions and discounts on loans and phone service also come with the job. * Base salary starts at $79,600 / year * Medical, dental and vision on your first day! You can choose the most generous Health Savings Account (HSA)-eligible medical plan with no monthly premium for you (and your family) * If you are at least 21 years old, you will receive a 3% contribution from MSGCU, and a 100% match for the next 7% you contribute to your 401(k) * You will enjoy 12 paid holidays and up to 120 hours of PTO your first year of service (pro-rated based on start date)

Responsibilities

Leads all repayment functions to meet financial objectives and strategic goals while ensuring compliance with state and federal regulations. Manages the repayments team to deliver a superior member experience and control delinquency and charge-offs.