MI Saves Lender Relations Manager
Lansing, MI
Full Time
Experienced
POSITION OVERVIEW
The lender relations manager is responsible for managing relationships with residential and commercial lenders, including lender recruitment, onboarding, retention, and reporting, to ensure program growth and sustainability and maximize Michigan Saves’ impact. This role requires a strong understanding of consumer lending principles and terminology, strong relationship-building skills, and a drive for innovation and continuous improvement in program delivery. The lender relations manager also maintains, negotiates, and updates lender agreements.
ESSENTIAL DUTIES
Lender Recruitment and Retention
The lender relations manager is responsible for managing relationships with residential and commercial lenders, including lender recruitment, onboarding, retention, and reporting, to ensure program growth and sustainability and maximize Michigan Saves’ impact. This role requires a strong understanding of consumer lending principles and terminology, strong relationship-building skills, and a drive for innovation and continuous improvement in program delivery. The lender relations manager also maintains, negotiates, and updates lender agreements.
ESSENTIAL DUTIES
Lender Recruitment and Retention
- Serves as Michigan Saves’ primary liaison with financial institutions participating in Michigan Saves’ residential and commercial financing programs, fostering strong relationships to expand and support Michigan Saves’ lender network
- Develops and executes strategies for recruiting and retaining lenders in Michigan Saves’ existing residential and commercial indirect lending programs
- Develops and delivers training programs to onboard new lenders and enhance their understanding of Michigan Saves’ programs, processes, and value propositions
- Coordinates with Michigan Saves investments teams on potential financial institution candidates for co-lending (i.e., Michigan Saves using its capital to participate in other lenders’ loans) under the Michigan Saves Climate Fund and facilitates connections for colleagues on the investment team
- Anticipates, identifies, and resolves day-to-day issues involving lenders in existing Michigan Saves programs, in coordination with underwriting staff from lenders and Michigan Saves customer service and contractor relationships teams
- Identifies and resolves issues related to lender data collection, reporting, or other compliance issues based on Michigan Saves’ agreements with lenders (e.g., loan loss reserve agreements); serves as liaison with lenders for troubleshooting operational or compliance issues identified by other Michigan Saves team members
- Escalates nonroutine issues and financial, programmatic, and organizational risks to the chief program officer to ensure organizational alignment on policies, procedures, and related communications to lenders
- Oversees the drafting, execution, and management of lender agreements, ensuring alignment with organizational goals, funder requirements, and regulatory compliance
- Identifies issues that may warrant changes to programmatic and lending guidelines
- Provides input to programs and investments teams on program changes and new program developments based on lender considerations
- Manages loan loss reserve allocations, ensuring accuracy, compliance with program guidelines, and alignment with financial partner expectations
- Identifies and evaluates potential partnership opportunities and initiatives with lenders that align with Michigan Saves’ mission, strategic priorities, and growth plans
- Monitors other clean energy financing programs and market trends to identify gaps, risks, and opportunities for Michigan Saves; provides input to Michigan Saves programs and investments teams on the development of and revisions to financing programs
- Provides input to Michigan Saves’ partners and program and marketing teams on marketing, outreach and engagement strategies, and materials to ensure the needs and perspectives of lenders are considered
- Bachelor’s degree in finance, business, or a related field or equivalent experience
- Minimum of 7 years of experience in financial services, preferably with a financial institution (e.g., a credit union, bank, or community development financial institution)
- Proven track record of successfully developing strategic partnerships with financial institutions
- Strong understanding of consumer lending principles, terminology, and financial regulations, such as the Truth in Lending Act, fair lending laws, and others
- Excellent interpersonal communication and negotiation skills, with the ability to build rapport and influence diverse stakeholders
- Familiarity with loan origination software and other financial technology platforms
- Passion for clean energy, sustainability and social equity
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