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Credit Risk Manager Jobs in Grand Rapids, MI (NOW HIRING)

Crystal Flash

Credit Specialist

Grand Rapids, MI · On-site

Monitor customer accounts regularly to ensure timely payments and keep risk exposure to a minimum. * Identify troubled accounts and work with Credit Managers to perform collection activities such ...

Fifth Third

CRE Credit Underwriter II

Grand Rapids, MI · On-site

... portfolio management procedures for credits. Responsible and accountable for risk by openly ... exchanging ideas and opinions, elevating concerns, and personally following policies and procedures ...

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Credit Risk Manager information

See Grand Rapids, MI salary details

$83.1K

$152K

$230K

How much do credit risk manager jobs pay per year?

As of Aug 23, 2026, the average yearly pay for credit risk manager in Grand Rapids, MI is $152,046.00, according to ZipRecruiter salary data. Most workers in this role earn between $128,200.00 and $170,500.00 per year, depending on experience, location, and employer.

What is a credit risk manager?

Credit Risk Managers are professionals responsible for assessing and managing the risk of financial losses that may arise from borrowers failing to repay loans or meet contractual obligations. They analyze financial data, credit reports, and market trends to determine the creditworthiness of individuals or businesses. Credit Risk Managers also develop policies and strategies to minimize potential losses and ensure compliance with regulatory standards. Their role is critical in maintaining the financial health and stability of banks, lending institutions, and other organizations involved in credit.

What does a credit risk manager do?

A credit risk manager analyzes credit risk for banks and similar financial institutions. In this role, it’s your job to develop better credit risk policies and procedures to alleviate losses and maintain capital. Additional duties involve examining data, building financial models, creating performance reports, ensuring regulatory compliance, and formulating credit policy. This career requires at least a bachelor’s degree in business administration or a related field. Other important qualifications include excellent analytical, communication, and research skills. Most employers typically prefer candidates who have previous risk management experience.

What are the key skills and qualifications needed to thrive as a credit risk manager, and why are they important?

To thrive as a Credit Risk Manager, you need strong analytical abilities, deep knowledge of financial principles, and typically a degree in finance, accounting, or a related field. Familiarity with risk modeling software, credit scoring systems, and regulatory frameworks such as Basel III is essential. Strong communication, decision-making, and stakeholder management skills set outstanding professionals apart in this field. These skills are crucial for accurately assessing creditworthiness, minimizing financial losses, and ensuring regulatory compliance within financial institutions.

How does a credit risk manager typically collaborate with other departments to assess and mitigate risk?

A Credit Risk Manager frequently works with teams across the organization, such as underwriting, finance, and compliance, to assess borrower creditworthiness and ensure adherence to risk policies. Collaboration often involves developing risk models, reviewing loan portfolios, and communicating risk exposures to senior management. Working closely with these departments enables comprehensive risk assessments and the implementation of effective mitigation strategies. This cross-functional approach fosters a proactive risk culture and ensures that credit decisions align with both regulatory requirements and business objectives.

What is the difference between Credit Risk Manager vs Credit Analyst?

AspectCredit Risk ManagerCredit Analyst
CredentialsBachelor's degree, often certifications like CFA or credit risk certificationsBachelor's degree, finance or related field, sometimes certifications like CFA
Work EnvironmentOversees risk policies, manages teams, strategic planningAnalyzes credit data, assesses borrower risk, prepares reports
Industry UsageUsed in banking, financial services, lending institutionsCommon in banks, credit agencies, financial firms

The Credit Risk Manager focuses on overseeing and managing the overall credit risk policies and teams, while the Credit Analyst conducts detailed credit assessments of individual borrowers. Both roles require similar credentials and are integral to credit decision processes, but they differ in scope and responsibilities.

How much do credit risk managers make in the US?

Credit risk managers in the US typically earn a median annual salary of around $85,000 to $125,000, with experienced professionals and those in senior roles earning higher. Salaries can vary based on industry, location, and level of experience, and certifications like CFA or FRM can enhance earning potential.
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Cities near Grand Rapids, MI with the most Credit Risk Manager job openings:

Credit Risk Manager jobs near you
Infographic showing various Credit Risk Manager job openings in Grand Rapids, MI as of July 2026, with employment types broken down into 82% Full Time, and 18% Part Time. Highlights an 95% Physical, 1% Hybrid, and 4% Remote job distribution, with an average salary of $146,977 per year, or $70.7 per hour.

Commercial Credit Analyst

Lake Michigan Credit Union

Grand Rapids, MI • On-site

Full-time

Posted 4 days ago

Lake Michigan Credit Union rating

8.0

Company rating: 8.0 out of 10

Based on 28 frontline employees who took The Breakroom Quiz

Job description

Primary Location:5540 Glenwood Hills Pkwy, Grand Rapids, MI 49512

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 Commercial Credit Analyst role is responsible for assessing the risk(s) of commercial loan requests, managing the administrative requirements of a commercial loan portfolio, train and mentor junior credit analyst(s), and assisting fellow credit and lending staff with commercial loan requests while adhering to the Credit Union's Member Business Loan Policy. The Commercial Credit Analyst will also from time-to-time be assigned special credit specific projects to manage and complete.

What you'll do:

  • Gather and analyze financial data such as income growth, budgets, projections, cash flow, quality of management, and industry information to determine extension of credit and risks around extension of credit.

  • Assist commercial loan officers with structuring of loans, keeping with established regulations and policies. Provide commercial loan officers with pertinent questions pertaining to the Borrower/Proposed Borrower and the subject loan request(s).

  • Provide feedback, when necessary, regarding theMBLpolicy and procedures. This shall include preparing formal requests to waive regulations when required by loan structure.

  • Maintain administrative tracking reports including financial statement, covenant, and borrowing base tracking.

  • Collect and review updated financial information from existing Borrowers to reassess risk grades and for detection of any potential credit deterioration.

  • Assist in maintenance of the commercial lending referral system to include communicating with potential borrowers regarding loan structures, desired types of loans, and required information needed to consider a loan request.

  • Adhere to and champion our core values of curious minds, collaborative hearts, and continuous excellence.

What you'll bring:

  • A Bachelor's degree in finance, business administration, or other fields of business study.

  • Three to five years of similar or related experience.

  • Expert working knowledge of Microsoft Word and Excel is required.

  • Must possess the ability to prepare written reports and present formal presentations.

  • Database experience preferred.

LMCU is an Equal Opportunity Employer

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