SPECIAL ASSETS MANAGER

Special Assets ManagerLending | BankingReports to: Chief Lending OfficerThis position does not offer remote access. It is an in-office position located in Winsted, CT.Summary of the RoleThe 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.Key ResponsibilitiesManage and monitor classified, delinquent, non-performing, and high-risk commercial and consumer loan relationshipsDevelop and implement workout, restructuring, collection, and recovery strategies to minimize loss exposureAnalyze borrower financial statements, cash flow, collateral positions, and repayment capacityNegotiate resolutions with borrowers, guarantors, attorneys, workout professionals, and other stakeholdersCoordinate foreclosures, bankruptcies, collateral liquidations, short sales, and OREO dispositionsPrepare reports and recommendations for Senior Management, Loan Committee, and the Board of DirectorsOversee commercial credit analysis activities, including financial statement spreading and risk rating reviewSupervise assigned staff, including coaching, training, performance management, and developmentManage departmental goals, budgets, retention standards, and operational effectivenessEnsure 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 committeesRepresent the Bank through community and industry activitiesSkillsLoan Workouts & Special Assets Management Commercial Credit AnalysisFinancial Statement & Cash Flow Analysis Collections & Recovery AdministrationReal Estate & OREO Management Negotiation & Conflict ResolutionRegulatory Compliance Leadership & Staff DevelopmentStrategic Planning Communication & PresentationQualificationsBachelor'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 analysisStrong understanding of bankruptcy, foreclosure, collections, creditor rights, and real estate valuationComprehensive knowledge of banking regulations and compliance requirementsProven leadership, supervisory, and organizational abilitiesExcellent negotiation, analytical, written, and verbal communication skillsAbility to travel throughout the Bank's lending market as neededRegularly works with highly confidential customer, financial, legal, and credit informationWhy Join UsOpportunity to directly impact portfolio quality, asset recovery, and risk management while partnering with senior leadership and contributing to the Bank's strategic objectives.Work Environment & Physical RequirementsPrimarily office-based role requiring prolonged sitting and computer use. Occasional standing, walking, and light lifting up to 10 pounds. Frequent use of standard office equipment and extended periods of computer screen use requiring visual focus.Equal Opportunity EmployerWe are committed to creating an inclusive and diverse workplace. Employment decisions are based on qualifications, merit, and business needs.