Senior Vice President of Mortgage

Position Summary:

The Senior Vice President of Mortgage is a critical role within our credit union, reporting directly to the Chief Experience Officer. Mortgage contributes roughly 65% of the credit union’s loan portfolio and is the single largest contributing business to net income. This position is responsible for overseeing the strategic planning, business development, implementation, and management of mortgage sales, operations, and risk associated with the business. This position will lead our mortgage division's growth, maintain our competitive edge in the rapidly evolving financial sector, and establish a comprehensive vision for how mortgage services will support and transform the credit union in alignment with the overall business strategy.

As the Senior Vice President of Mortgage, you will lead the strategic direction and operational oversight of our mortgage division. Your role is pivotal in driving growth, innovation, and operational excellence within the mortgage lending space. You will be responsible for developing and executing a compelling strategic vision that aligns with our organizational goals and industry trends. By fostering a culture of collaboration, innovation, and member-centric service excellence, you will ensure our mortgage offerings exceed member expectations while maintaining stringent regulatory compliance. Your leadership in financial management, stakeholder engagement, and talent development will be instrumental in advancing our position in the market and achieving sustainable long-term growth.

Anticipated areas of focus include:

Strategic Vision and Leadership

• Establish, shape, and execute a clear strategic vision for leveraging mortgage products and services to achieve division and organizational goals.
• Provide leadership and direction to mortgage teams responsible for origination, underwriting, processing, and servicing. Ensure mortgage services meet the needs of members and internal stakeholders.
• Collaborate with other executives to ensure mortgage initiatives support business growth and efficiency.
• Drive innovation initiatives to modernize mortgage processes, enhance member experiences, and capitalize on market opportunities. Identify areas for product development and lead efforts to maintain competitive advantage.
• Lead change management initiatives to adapt to evolving market conditions.
  
  

Communication and Relationship Building

• Utilize effective communication skills to engage with stakeholders across the organization, including executives, department heads, and mortgage teams.
• Build strong relationships with local real estate professionals and industry partners, influence decision-making, and convey complex mortgage concepts in a clear and accessible manner.
• Represent the credit union in high-level industry forums and regulatory discussions.
• Develop strategic partnerships to broaden market reach and product offerings.
• Recruit, retain and motivate Loan Officers to achieve market leading performance.
• Monitor and grow market share in all markets.
  
  

Mortgage Operations and Technical Expertise

• Oversee the design, implementation, and maintenance of mortgage operations, including loan origination systems, underwriting processes, and servicing platforms. Ensure operations remain compliant, efficient, and aligned with industry best practices.
• Establish and enforce policies, procedures, and protocols to manage credit risk, ensure regulatory compliance, and protect the organization's mortgage portfolio. Monitor industry trends and implement necessary measures to mitigate risks.
• Lead efforts to manage and leverage mortgage data effectively to drive business insights and decision-making. Develop performance metrics, oversee quality initiatives, and champion the adoption of analytics tools for the mortgage division.
• Stay abreast of industry trends and best practices to drive innovation and efficiency within the mortgage division. Anticipate the impact of market trends to build team competencies in relevant areas.
• Drive technological innovation to streamline operations and enhance member experience.
  
  

Business Acumen and Financial Management

• Develop a deep understanding of the mortgage landscape and how products and services can be leveraged to gain a competitive advantage.
• Ability to translate market conditions and member needs into mortgage solutions and articulate the value proposition of mortgage investments to senior leadership.
• Plan and budget to control costs, demonstrate ROI, and effectively invest in the credit union's mortgage division.
• Ability to effectively interact and communicate with the Board of Directors at a strategic level to discuss and propose mortgage strategy advancements and initiatives.
• Manage P&L for the mortgage division, with accountability for revenue and profitability targets.
• Monitor market trends, competitive landscape, and economic factors to identify opportunities and risks.
  
  

Team Building and Talent Development

• Foster a culture of innovation, collaboration, and continuous improvement within the mortgage organization.
• Provide mentorship, coaching, and professional development opportunities to mortgage staff to enhance their skills and capabilities.
• Attract top mortgage talent, foster a collaborative work environment, and provide opportunities for professional growth and development.
• Build and mentor a high-performing leadership team.
• Drive talent acquisition and retention strategies for the division.
  
  

Risk Management and Compliance

• Ensure robust risk management practices are in place to mitigate operational, credit, and regulatory risks within the mortgage portfolio.
• Stay abreast of industry regulations and ensure the division's adherence to all applicable laws and guidelines.
• Implement best practices and ensure compliance with all regulatory requirements and internal policies.
  
  

Member Experience

• Champion a member-centric approach to mortgage lending, ensuring exceptional experience at every touchpoint.
• Cultivate strong relationships with internal stakeholders and external partners to support business objectives and enhance service delivery.
  
  

Required Experience And Qualifications

• Bachelor’s degree in Business Administration, Finance, or related field (Master’s degree preferred).
• Minimum of 10 years of progressive leadership experience in mortgage lending within a financial institution, with at least 5 years in a senior management role.
• Strong understanding of mortgage operations, regulatory requirements, mortgage products, underwriting guidelines, and market dynamics.
• Proven track record of driving strategic initiatives, achieving growth, profitability, and operational excellence in mortgage lending.
• Exceptional leadership, communication, negotiation, and relationship-building skills, with the ability to influence and collaborate effectively across all organizational levels.
• A strategic thinker with a results-oriented mindset and a commitment to delivering superior member service.
  
  

Who We Are:

We’re proud of our past, thrilled with our present, and couldn’t be more excited about our future! Lake Michigan Credit Union has grown to become one of the largest credit unions in the nation with our headquarters in West Michigan.

As a credit union, LMCU is a not-for-profit institution, owned by its members, instead of corporate stock holders. We are accountable directly to our members, and they directly share in our success – benefitting by lower and fewer fees, better savings and checking interest rates, lower cost mortgages and a host of other advantages that simply don’t exist at traditional banks.

It’s about always doing what’s best and right for our members - it guides everything we do.

From friendly, knowledgeable and professional employees who greet you by name, to offering stellar value at every turn, LMCU works for its members.

Working with LMCU you can grow and advance in your career and work with talented teams that help you become better each and every day. As an employee you can have confidence in knowing your work is having an impact by supporting our mission of serving our members’ lifetime financial needs.

You’ll be encouraged to innovate and excel and we're committed to your empowerment as an employee, providing ongoing training, development, support, and opportunities for you to achieve your career goals.

Have additional questions about the role?

You may email us at: Careers@lmcu.org.

If you lack access to the internet or internet connectivity, or have a disability that hinders your ability to apply online, please choose one of the following options to obtain assistance:

Call us at: (616) 242-9790

Mail your resume to: 5664 Prairie Creek Drive, Caledonia, MI 49316

Please Note: These options are reserved for use by individuals requesting an accommodation as a candidate. Information received via these options will be routed to our HR team, who will provide appropriate assistance to facilitate the completion of LMCU’s online application.

LMCU is an Equal Opportunity Employer