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Middlesex Savings Managed Assets Manager in Natick, Massachusetts


Manager will have management responsibilities for the Bank’s Commercial problem loan portfolio and Other Real Estate Owned (OREO) properties. The primary focus is to minimize financial loss while preserving the Bank’s reputation. Performs any functions, within scope of authority and expertise, to provide the highest level of service and responsiveness to customers and co-workers.


  • Manage the day-to-day operations of the Managed Assets Department (MAD) and the Bank’s OREO properties with the assistance of Department personnel. Will manage a selected portfolio of classified commercial and/or real estate customers, as needed. Makes recommendations to senior management and resolves troubled exposure through restructuring /rehabilitation, refinancing, liquidation or sale of the collateral.

  • Assist the Senior Credit Officer with consultation (workout liaison) for line-administered problem assets. Assists in the development and approval of pro-active, workout or turnaround action plans. Recommends the transfer to Managed Assets Department as appropriate per MSB credit policy. Follows up with the line on significantly past due accounts.

  • Ensures that MAD maintains credit and legal files (including OREO files) in accordance with the Bank’s policies and/or federal, state and banking regulatory agency guidelines. Ensures that each assigned exposure is properly risk rated and evaluated based on the underlying cash flow, paying capacity or pledged collateral of the borrower(s)/guarantors.

  • Ensures that customer communication is concise, documented as appropriate and treatment reflects the Bank’s objectives in the handling of the troubled customer.

  • Manages overall MAD activities for outside service providers who assist in the collection and/or customer rehabilitation efforts. Outside service providers including appraisers, attorneys, auctioneers, brokers, local authorities, turnaround consultants and other service providers. Ensures cost effective services from Bank approved third parties providers.

  • Responsible for the effective takeover, transfer and management of all Bank collateral that may become owned by the Bank (OREO Assets). Works with internal and external professionals, in taking possession, foreclosing and properly transferring ownership to the Bank. Insures proper documentation and adherence to all laws and regulatory pronouncements. Ensures the OREO assets are properly accounted for and valued on the books of the Bank or holding Bank subsidiary.

  • Train and assist officers and administrative staff within the unit. Acts as alternative officer for certain credits within the team.

  • Performs Annual Performance Reviews for the MAD employees.

  • Assist the Senior Credit Officer on upgrading banking practices/procedures and credit policies, in an effort to minimize future risk of loss. Ensures full compliance with the Bank’s Information Security Policies and Procedures.

  • Represents the Bank through visible participation in various community and industry related activities. Actively promotes interest in the Bank wherever and whenever possible. Refers sales opportunities to other departments or bank affiliates in support of established objectives.

  • Performs related and unrelated duties as may be required.


  • Bachelor’s degree or its equivalent plus at least ten years of overall banking/business experience, two plus years of workout or distressed debt experience and demonstrated successful management experience. Sound understanding of consumer, commercial and real estate lending and loan workout, bankruptcy and insolvency processes and statutes.

  • Must have a basic understanding of the rules and regulations governing commercial debt collection practices.

  • Demonstrated business strategy, analytical, decision-making and problem solving skills.

  • Manager must have strong interpersonal, influencing and communication skills.

  • Must possess at least intermediate technology skills including knowledge of word processing database and spreadsheet applications.

  • Must have a valid driver’s license.

Middlesex Savings Bank is an EO/AA Employer: Min/Fem/Vet/Disabled

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Location US-MA-Natick

Req # 5209

Category Credit Administration - Managed Assets

Position Type Full Time

Standard Working Hours Monday - Friday 8:30 AM - 5:00 PM