Special Assets - Special Assets Analyst

Special Assets Analyst (NE-10)

Chelsea Groton Bank is looking to hire a motivated and dynamic individual for our Special Assets Department. The Special Assets Analyst makes initial and ongoing contact with borrowers whose loans are past due, up to and including escalation to legal action. In addition, this individual performs a variety of collections activities in conformance with established Bank, Investor, and regulatory policies and procedures as well as assists in the preparation of departmental reports.

Responsibilities and Requirements vary based on job level. Expectations include:

• Leads collection efforts by proactively contacting all borrowers and guarantors with delinquent loans, ensuring timely resolution.
• Investigates the root causes of non-payment by borrowers and guarantors, strategically gathering financial insights to develop effective repayment plans.
• Analyzes loan files to ensure all legal documentation, guaranteeing preparedness for legal action; reviews SBA, VA, FHA, and USDA guaranteed loans to maximize collectability against guarantees when necessary.
• Prepares documentation for legal action, forbearances, modifications, and strategic debt restructures, securing approvals and seamless execution.
• Collaborates with attorneys-both Bank and Borrower representatives-on bankruptcy filings, tax liens, condominium association claims, and federal, state, and IRS tax warrants, ensuring comprehensive protection for the Bank.

Why Choose Chelsea?

The Bank has been named a Top Workplace in Connecticut since 2016. And with good reason! Our team members are encouraged and empowered to be better, go further, and help others. And there are lots of other perks too - competitive salary, 401(k) plan, paid time off, health benefits, wellness and engagement programs, leadership training, professional development, and learning opportunities for all team members, and more! Several members of the Bank's team have been recognized in our industry and throughout the community by earning awards such as the Connecticut Bankers Association New Leaders in Banking, ICBA Forty Under 40, The Day Forty Under 40, Banking New England Women of FIRE, and more.

At Chelsea Groton, we don't just meet the expectations of our community; we exceed them in the ways we, as a mutual bank, do business, and how we support local organizations financially and through volunteerism. We are focused on bringing together the best in digital, remote, and in-person capabilities. Our approach is designed around the lives of our customers so they can manage finances when, where and how they want, and team members can provide support to our customers in more ways too.

Apply today to join a company named Best Bank by The Day (2015 - present), Top Workplace by the Hartford Courant (2016 - present), and one of Forbes Best-In-State Banks (2021, 2022)! Apply online by visiting us at www.chelseagroton.com/careers

Responsible for adhering to Bank policies and procedures relating to regulatory compliance requirements applicable to the job function including but not limited to the Bank Secrecy Act, Anti-Money Laundering, and Fair Lending. EOE/AA/M/F/D/V. Member FDIC.