Special Assets Manager

Bank of Clarke•Winchester, VA

2h•Onsite

About The Position

The Special Assets Manager is a key leadership role responsible for overseeing all aspects of collections, recovery, and management of special assets within the financial institution. This individual leads strategy, policy development, and operational execution to optimize asset recovery, minimize credit losses, and maintain the overall financial health of the organization's loan and asset portfolio. This role serves as an advisor to executive management, providing insights and recommendations in line with regulatory compliance, risk mitigation, and long-term organizational growth.

Requirements

Bachelor’s degree in finance, Business Administration, Accounting, or related field required.
Minimum of 7–10 years of commercial credit, collections, or special assets experience.
Prior experience managing criticized/classified credits and complex loan workouts required.
Strong knowledge of commercial lending, loan documentation, and collateral structures.
Working knowledge of bankruptcy, foreclosure, and collections law.
Ability to analyze financial information and assess borrower viability and repayment capacity.
Strong judgment and decision-making skills in high-risk situations.
Excellent communication skills, with ability to present clearly to senior management and the Board.
High level of organization and attention to detail.

Nice To Haves

Master’s degree or advanced certifications (e.g., CPA, CFA, CFE) strongly preferred.
Supervisory or leadership experience preferred.

Responsibilities

Develop and implement strategies for collections and special assets.
Align departmental goals with organizational objectives.
Lead a high-performing team with a focus on accountability and continuous improvement.
Oversee collections of delinquent accounts and restructuring troubled credits.
Manage disposition of special assets including NPLs, foreclosed properties, and repossessed collateral.
Supervise valuation, impairment analysis, and timely disposition of non-performing assets.
Create and update policies and procedures for collections and special assets.
Ensure compliance with laws, regulations, and internal risk standards.
Coordinate with legal and compliance teams to minimize legal exposure.
Represent the organization in audits, regulatory exams, and external reporting.
Monitor performance metrics and analyze portfolio trends.
Prepare executive-level reports on collections, recoveries, and reserves.
Develop early warning systems for credit deterioration.
Establish and track KPIs for collections and asset recovery.
Recruit, mentor, and train collections and asset management staff.
Provide ongoing training to ensure adherence to best practices and regulatory standards.
Act as escalation point for complex or high-value recovery cases.
Collaborate with senior leaders across Credit Risk, Lending, Legal, and Operations.
Ensure seamless integration of collections and asset management strategies.
Manage relationships with external vendors (e.g., collection agencies, law firms, appraisers, auctioneers).
Maximize asset recovery and control costs.
Lead or support M&A due diligence, portfolio sales, stress testing, and crisis response to credit events.
Drive innovation in recovery strategies using technology, automation, and analytics.