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Job description
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Special Assets Manager
FULL TIME EXEMPT Winsted, CT, US
Reports to: Chief Lending Officer
This position does not offer remote access. It is an in-office position located in Winsted, CT.
Summary of the Role
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.
Key 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
Skills
Loan Workouts & Special Assets Management Commercial Credit Analysis
Financial Statement & Cash Flow Analysis Collections & Recovery Administration
Regulatory Compliance Leadership & Staff Development
Strategic Planning Communication & Presentation
Qualifications
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
Why Join Us
Opportunity 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 Requirements
Primarily 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 Employer
We are committed to creating an inclusive and diverse workplace. Employment decisions are based on qualifications, merit, and business needs.
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Worksite address
winsted, CT, 06098, US
Who can apply
Review the original listing for work authorization, qualifications and employer requirements.