Senior Asset Recovery & Loan Workouts Manager

The New Washington State Bank; Charlestown (IN); Hybrid; USD 90,000 - 130,000; Full time

Benefits offered by this job

Health insurance

Vision insurance

401(k)

401(k) matching

Competitive salary

Dental insurance

Job summary

NWSB in Charlestown or Sellersburg, Indiana, is seeking a Commercial Asset Recovery Manager for an on-site role. You will lead recovery of high-risk, non-performing loans, focusing on credit analysis and negotiation to minimize losses.

Responsibilities include evaluating distressed accounts, negotiating restructures, coordinating workouts with borrowers, and overseeing legal recoveries, foreclosures, and asset liquidations.

Qualifications

• Bachelor’s degree in finance, business, or accounting.
• 5+ years in commercial lending, credit analysis, and debt recovery.

Responsibilities

• Review borrower financials to assess repayment capacity.
• Draft loan modifications and set performance milestones.
• Analyze market valuations and follow up on risk accounts.
• Coordinate legal remedies and asset recovery plans.
• Develop and implement loss-mitigation strategies early in delinquency.
• Present loss-exposure updates to leadership.

Skills

Negotiation

Credit analysis

Banking regulations

Risk assessment

Attention to detail

Project management

Education

Finance degree

Business/Accounting degree

Job description

Benefits:

• Health insurance
• Vision insurance
• 401(k)
• 401(k) matching
• Competitive salary
• Dental insurance

NWSB is adding a Commercial Asset Recovery Manager to our team! This is an on-site position to be located at our Charlestown or Sellersburg Indiana branch. Must have 5+ years experience in commercial lending.

You will manage high-risk, non-performing loans to minimize financial losses. This role evaluates distressed accounts, negotiates loan restructures, and coordinates workouts with borrowers. When rehabilitation fails, the specialist oversees legal recoveries, foreclosures, and asset liquidations. The position requires strong credit analysis, sharp negotiation skills, and a deep understanding of banking regulations.

Loan Restructuring:
•Review borrower financial metrics to assess repayment capacity.
•Create new performance milestones the borrower must meet.
•Draft formal loan modifications.

Risk Evaluation:
•Analyze updated market valuations for real estate and equipment.
•Review commercial financial statement and follow up on risk accounts.
•Legal and Recovery Work:
•Collaborate closely with legal counsel to establish clear, compliant resolution paths that protect assets.
•Coordinate the execution of legal remedies, settlement structures, and asset recovery plans to maximize financial returns.

Loss Prevention:
•Develop and execute comprehensive loss-mitigation plans early in the delinquency cycle to mini-mize financial exposure.
•Present regular loss-exposure updates to leadership.

Education or Equivalent:
• Bachelor’s degree in finance, business, or accounting
• 5+ years in commercial lending, credit analysis, and debt recovery.

Knowledge/Skills Requirements:
• Strong grasp of banking laws, bankruptcy codes, and collection regulations.
• High-level negotiation and problem-solving abilities.
• Strong organizational skills with the ability to prioritize and manage multiple tasks.
• High level of accuracy and attention to detail.