SPECIAL ASSETS MANAGER

Nwcommunitybank; Winsted (CT); On-site; USD 120,000 - 180,000; Full time

Job summary

Nwcommunitybank in Winsted, CT is seeking a Special Assets Manager to oversee the bank's non-performing and distressed loan portfolio. You will develop workout, recovery, and OREO dispositions while ensuring regulatory compliance and protecting the bank's interests.

The role requires leadership of a team, strong credit analysis, and strategic planning to minimize losses. This is a full-time, in-office position based in Winsted, CT with occasional travel and no remote option.

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.

Responsibilities

• Manage and monitor classified, delinquent, non-performing, and high-risk 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

Commercial Credit Analysis

Regulatory Compliance

Leadership

Negotiation

Financial Analysis

Analytical Skills

Communication Skills

Education

Bachelor's degree in Finance, Accounting, Business Administration, or related field

Job description

If you are unable to complete this application due to a disability, contact this employer to ask for an accommodation or an alternative application process.

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.