Michael Plath
Toledo,OH
Summary
Highly effective executive leader with 8 + years of financial institution experience, 80% of which has been spent serving to advance the credit union movement. Passionate, strategic, innovative, results-driven professional with the entrepreneurial vision and leadership skills necessary to drive revenue growth and market penetration.
Proficient financial executive with extensive background in mortgage and consumer finance, lending administration, risk & default management, customer service, and in the management of multi-million dollar loan portfolios.
Accomplished professional successes range from
top performances in front line sales and business development roles to having the opportunity to lead, coach, and develop
team members, as well as to direct operational work flows with start-up,
mature, and growth organizations.
Overview
16
16
years of professional experience
1
1
Certification
Work History
Executive Vice President, Chief Lending Officer
Toledo Metro Federal Credit Union
Toledo, OH
06.2012 - Current
- Served as Interim President & CEO from July, 2014, through March, 2015.
- Responsible to lead, train, organize, direct, and provide support to both the credit union's staff and management team consistent with strategic visions, plans, and related objectives.
- Responsible for the development of financial reports including budget planning and preparation, variance analyses, enterprise risk management, asset liability management, strategic planning, and related initiatives.
- Responsible for business development, contract negotiation, and managing relationships with existing core membership groups, departments, vendors, key strategic partners, and indirect lending channel partner dealers.
- Responsible for supervising and directing Lending, Collections, and Full Service Representative department staff, respective functions and governing policies, as well as for loan promotion, pricing, production, compliance, underwriting, delinquency, collections, recovery, and overall portfolio performance.
Vice President, Lending & Collections
Toledo Metro Federal Credit Union
Toledo, OH
10.2011 - Current
- Drove circa 60% growth in retail loan portfolio volume while simultaneously reducing collections and delinquency from nearly 3% to under 0.5% inside of first year. Hire-to-date, retail portfolio volume is up 191% and delinquency remains managed between 1 - 1.50%.
- Doubled the loan to share ratio inside of first 18 months. Hire-to-date, the loan to share ratio has nearly tripled.
- Transformed the credit union from year over year loss trending to financial performance resulting in ROA's of 1-2+% while balancing risk(s) within the balance sheet
- Introduced quality control to department workflow, including sampling and reviewing files for accuracy and completeness so as to optimize file integrity, policy compliance, and internal controls.
- Introduced GAP, MBP (warranty) and payment protection programs into the credit union to drive non-interest income. in 2014, 25% of the credit union's net income for the year came directly from the credit union's success in selling these loan products.
- Led the state of Ohio's credit unions in the $20-50 Million asset class peer group for 11 consecutive quarters in 12-month loan growth. Hire-to-date, the credit union has never not been in the top 10 in the state of Ohio in this category.
Reverse Mortgage Banker
Quicken Loans' One Reverse Mortgage
Detroit, MI
12.2009 - 10.2011
- Increased year over year personal production in excess of 200%.
- Negotiated and closed the largest reverse mortgage loan in company history.
- Tele-solicited, from a centralized call center, reverse mortgage business from the senior market, facilitating the entire loan process from origination, through processing, to closing.
Marketing
Erie Construction
Toledo, OH
.1 -1 - .1 -1
- Managed logistical lead coordination and allocation to respective sales representatives in 15 different markets through out mid-west in order to maximize sales, efficiency, and productivity.
- Ensured appointment blocks were filled with
qualified, confirmed sales appointments.
Mortgage Consultant
Directions Credit Union
Sylvania, OH
.1 -1 - .1 -1
- Closed over 100 loans in excess of $10 million.
- Consulted staff within branch network on mortgage and general loan awareness in effort to maximize capture of internal business opportunities, promote production, and ultimately to strengthen CU-Member relationships through wallet share optimization.
Education
BBA - Pursuing dual major in Accounting & Finance
The University of Toledo
Current
Skills
- Revenue and profit maximization
- Cash-flow & other financial ratio analysis
- Marketing strategy
- Budget planning & preparation
- Strategic planning
- Analytics
- Mortgage lending
- Consumer lending & associated finance
- Underwriting
- Operations management
- Risk management
- ALM
- Quality assurance
- Indirect lending
- Sales & service
- Leadership
- Team-building
- Coaching
- Call center
- Vendor & strategic partner relationship management
- Excellent listening skills
- Contract negotiation
- Business planning
- Strong interpersonal & written and oral communication skills
- Networking
- Enterprise Risk Management
Affiliations
Trustee, Board of Directors
The UpTown Association
Certification
Registered Mortgage Loan Originator with the Nationwide Mortgage Licensing System, NMLS ID: 257523
Licensed by the state of Ohio to solicit annuities and insurance in the life, accident, health, and credit lines of authority
Timeline
Executive Vice President, Chief Lending Officer
Toledo Metro Federal Credit Union
06.2012 - Current
Vice President, Lending & Collections
Toledo Metro Federal Credit Union
10.2011 - Current
Reverse Mortgage Banker
Quicken Loans' One Reverse Mortgage
12.2009 - 10.2011
Marketing
Erie Construction
.1 -1 - .1 -1
Mortgage Consultant
Directions Credit Union
.1 -1 - .1 -1
BBA - Pursuing dual major in Accounting & Finance
The University of Toledo
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