VP- Collections & Asset Management

Lowell Five Bank • Tewksbury, MA • 8h ago

About Lowell Five\ With nearly \$1.7 billion in assets, over 200 employees and 15 banking center locations throughout the Merrimack Valley and Southern New Hampshire, Lowell Five is honored to play a vital role in the economic vitality of the region. We provide support of, and our employees are engaged in, a myriad of leadership roles for numerous community boards and organizations. We are proud of the longevity of our employees and we are committed to finding new talent for our team. We offer career development and educational programs to support personal and professional growth along with a benefit package that supports each employees best life. For more information, please visit www.lowellfive.com.

Essential Duties & Responsibilities:\ Collections Oversight\

Oversee daily operations of the collections team handling early and

late-stage delinquent accounts\

Develop and implement effective collection strategies to minimize

delinquency and maximize recoveries\

Monitor delinquency trends and prepare monthly performance reports for

senior management\ Special Assets Management\

Lead the management of impaired loans, restructured facilities, and

other high-risk accounts\

Analyze borrower financials, collateral, and credit history to

determine recovery or restructuring strategies\

Coordinate with credit, lending and operations departments for loan

workouts, foreclosure, or liquidation processes\

Recommend and execute strategies for exit or rehabilitation of

distressed assets\

Coordinates and works closely with legal counsel to expeditiously

resolve litigation while minimizing legal and collection expenses\

Coordinates the Banks Special Asset Group meetings\

Oversee and manage REO upon acquisition and through disposition\

Ensure compliance with regulatory guidelines\

Maintain accurate and updated records of all collection and recovery

actions\

Support internal and external audits by providing required

documentation and responding to findings\

Contribute to policy reviews, risk assessments, and enhancements of

credit risk frameworks\ Management & Professional Development\

Provide coaching, training, and supervision to Collections staff\

Prepares and delivers performance evaluations, makes compensation

recommendations, and provides assistance with goal-setting to develop staff\

Creates and fosters an inclusive team environment

Requirements:\

Bachelors degree in Finance, Business Administration, Accounting, or

related field strongly preferred\

Minimum of 5 years experience in collections, credit risk, or special

assets management in banking or financial services\

At least 3 years of supervisory experience preferred; proven

leadership skills and the ability to manage cross-functional teams\

analysis, and legal recovery processes\

Familiarity with federal and local banking regulations and debt

recovery laws\

Excellent negotiation and conflict resolution skills\

Strong written and verbal communication skills\

High degree of initiative, dependability, and ability to work

independently\

Strong analytical and decision-making abilities\

Proficiency in loan management systems and MS Office Suite\

Effective communication and stakeholder management skills\

Must be willing and able to report to Headquarters in Tewksbury five

full days a week

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