Asset Recovery Manager Jobs in Virginia (NOW HIRING)

Job Type
Full-time
Description
Position Purpose: 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.
What you'll do:
Strategic Leadership
• 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. Asset Recovery & Management
• 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.
Policy & Compliance
• 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.
Portfolio Analysis & 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.
Team Development & Training
• 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.
Stakeholder Engagement
• Collaborate with senior leaders across Credit Risk, Lending, Legal, and Operations.
• Ensure seamless integration of collections and asset management strategies.
Vendor & Third-Party Management
• Manage relationships with external vendors (e.g., collection agencies, law firms, appraisers, auctioneers).
• Maximize asset recovery and control costs.
Special Projects
• 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.
Core Competencies
• Strategic Thinking & Vision
• Risk Assessment & Mitigation
• Results Orientation
• Negotiation & Influence
• Problem Solving & Decision-Making
• Change Management
• Emotional Intelligence & Team Leadership
• Customer-Centric Approach
• Regulatory & Legal Acumen
Requirements
Where you'll shine:
• Education: Bachelor's degree in finance, Business Administration, Accounting, or related field required. Master's degree or
advanced certifications (e.g., CPA, CFA, CFE) strongly preferred.
• Minimum of 7-10 years of commercial credit, collections, or special assets experience.
• Prior experience managing criticized/classified credits and complex loan workouts required.
• Supervisory or leadership experience preferred.
• 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.
Where we shine:
• Offering a full suite of benefits including medical, life, dental, and vision insurance plus generous paid time off.
• Supporting associates and their families; we embrace the importance of caring for oneself and our families.
• Surrounding ourselves with smart, driven, and diverse individuals.
• Valuing integrity, commitment regarding our daily duties, and the Bank as a whole.
• Supporting local philanthropic, cultural, and artistic initiatives and organizations that our employees' value.
• Devoted to the communities in which we serve as we help those who form the creative backbone of our market's future
economy and business value.
• Bank of Clarke is "Great Place to Work" Certified through June 2025.
• "Top Virginia Employer for Interns" award recipient (2023, 2024, 2025, 2026) through Virginia Talent and Opportunity
Partnership (V-TOP.)
Working Conditions:
The individual will be required to be available after normal working hours. Business travel may be necessary to meet with vendors and attend training opportunities.
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed under the knowledge/skills section are representative of the knowledge, skill set, and/or ability required. Reasonable accommodation may be made to enable qualified individuals with disabilities to perform the essential functions.
EEO M/F/V/D
Salary Description
$123,398.99-209,806.20 depending on experience