Asset Quality Risk Manager

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Wallingford, CT, US

7 days ago Requisition

POSITION

DESCRIPTION:

The Asset Quality Risk Manager is an experienced leader with end‑to‑end responsibility for the Bank’s problem asset portfolio, accountable for reducing non‑performing loans, non-accrual assets, and credit losses while maximizing recoveries and ensuring regulatory compliance. The role drives proactive identification of credit deterioration, execution of remediation and recovery strategies, and continuous improvement in portfolio performance to minimize losses and optimize recoveries.

In partnership with Credit, Lending, Finance, and Operations, the role ensures strong asset quality outcomes, regulatory compliance, and clear reporting to Executive Management and the Board, supporting CAMELS ratings and overall risk governance.

GENERAL DESCRIPTION OF DUTIES:

• Owns lifecycle management of criticized, classified, and non-performing loans
• Provides end‑to‑end leadership and accountability for the Bank’s non‑performing, classified, criticized, substandard, and doubtful asset portfolio, including commercial, consumer, residential and loans serviced or resolved under secondary market / agency guidelines (e.g. Freddie Mac and Fannie Mae) where applicable.
• Develops and maintains enhanced procedures to ensure consistent execution.
• Manages risk with appropriate controls. Monitors control design and effectiveness to ensure safe and sound execution.
• Proactively identifies emerging credit deterioration in partnership with the CRO, CLO, Senior Credit Risk Manager, Finance, Operations and intervenes early to limit losses.
• Develops forward‑looking strategies to reduce inflows into non‑performing status and improve migration trends.
• Leads workouts, restructures, and recovery strategies
• Defines, executes, and adjusts portfolio‑level and loan‑specific remediation strategies to reduce NPL balances, days in non-accrual, and loss severity.
• Establishes standardized workout frameworks, decision trees, approval thresholds, exception tracking and escalation protocols to ensure consistent, timely, and well‑documented problem loan resolutions.
• Evaluates borrower viability and determines appropriate remediation strategies in alignment with regulatory guidance.
• Considers borrower assistance programs and investor/agency loss mitigation waterfalls (repayment plans, forbearance, modifications, liquidation pathways) as appropriate.
• Leads and negotiates loan workouts, restructurings, repayment plans, settlements, and exit strategies, coordinating with borrowers, legal counsel, and external stakeholders as needed.
• Ensures strategies align with investor/agency workout requirements, servicing timelines and documentation where applicable.
• Oversees collections, foreclosures, repossessions, and OREO
• Directs complex recovery activities, including collateral realization, foreclosures, repossessions, and OREO management and disposition.
• Partners across business lines to improve asset quality performance. Oversee QC of commercial loan documentation.
• Ensures accurate risk ratings and regulatory classifications.
• Oversees collateral valuation, appraisal, and insurance processes and condition monitoring, and third‑party reviews to support informed resolution and recovery decisions.
• Provides clear, concise insights to support Board oversight, regulatory exam readiness, loan reviews, and audit activities. Owns and manages key performance indicators related to asset quality, resolution timeliness, recoveries, and regulatory outcomes.
• Ensures compliance with regulatory and policy requirements and supports audits, loan reviews, and regulatory exams.
• Partners with Loan Servicing/Insurance Tracking functions to confirm adequacy and enforce ability of insurance coverage supporting loss recovery.
• Monitors asset quality trends, NPL ratios, charge‑offs and recoveries, top exposures, and progress on action plans. Reports asset quality performance, including delinquency trends, non‑accrual loans, charge‑offs, recoveries, recovery rates, and…