Lowell Five: VP Collections Special Assets

Vice President, Collections and Special Asset Management Full Time
Tewksbury, MA

POSITION SUMMARY

The Collections and Special Assets Manager is responsible for leading the collections team and managing the Bank’s delinquent accounts, and special assets. This role ensures effective recovery strategies, compliance with regulatory requirements, and preservation of asset value through restructuring, recovery, or legal action.

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 employee’s best life. For more information, please visit www.lowellfive.com.

ESSENTIAL DUTIES AND 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 Bank’s 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

  Please note this job description is not designed to cover a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change over time.

  REQUIREMENTS

• Bachelor’s 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

• Strong knowledge of loan products, collateral management, credit 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

  Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities