SPECIAL ASSETS MANAGER

Northwest Community Bank • Winsted, CT

1d • Onsite

About The Position

The Special Assets Manager is responsible for overseeing and resolving the Bank's non-performing, and distressed loan portfolio. This role develops and executes workout, recovery, collection, and OREO disposition strategies that minimize losses, maximize recovery, and ensure compliance with regulatory requirements while protecting the Bank's financial interests.

Requirements

• Bachelor’s degree in Finance, Accounting, Business Administration, or related field (or equivalent experience)
• 5–7 years of progressive banking experience with emphasis in commercial lending, special assets, loan workouts, and credit analysis
• Strong understanding of bankruptcy, foreclosure, collections, creditor rights, and real estate valuation
• Comprehensive knowledge of banking regulations and compliance requirements
• Proven leadership, supervisory, and organizational abilities
• Excellent negotiation, analytical, written, and verbal communication skills
• Ability to travel throughout the Bank’s lending market as needed
• Regularly works with highly confidential customer, financial, legal, and credit information

Nice To Haves

• Loan Workouts & Special Assets Management
• Commercial Credit Analysis
• Financial Statement & Cash Flow Analysis
• Collections & Recovery Administration
• Real Estate & OREO Management
• Negotiation & Conflict Resolution
• Regulatory Compliance
• Leadership & Staff Development
• Strategic Planning
• Communication & Presentation

Responsibilities

• Manage and monitor classified, delinquent, non-performing, and high-risk commercial and consumer loan relationships
• Develop and implement workout, restructuring, collection, and recovery strategies to minimize loss exposure
• Analyze borrower financial statements, cash flow, collateral positions, and repayment capacity
• Negotiate resolutions with borrowers, guarantors, attorneys, workout professionals, and other stakeholders
• Coordinate foreclosures, bankruptcies, collateral liquidations, short sales, and OREO dispositions
• Prepare reports and recommendations for Senior Management, Loan Committee, and the Board of Directors
• Oversee commercial credit analysis activities, including financial statement spreading and risk rating review
• Supervise assigned staff, including coaching, training, performance management, and development
• Manage departmental goals, budgets, retention standards, and operational effectiveness
• Ensure compliance with regulatory requirements, internal policies, and examination standards. Educates staff of same.
• Recommends procedural changes as needed to support prescribed requirements.
• Participate on management, Credit, CRA, and Special Assets committees
• Represent the Bank through community and industry activities

Benefits

• Opportunity to directly impact portfolio quality, asset recovery, and risk management while partnering with senior leadership and contributing to the Bank’s strategic objectives.

What This Job Offers

• Job Type: Full-time
• Career Level: Manager