Senior Asset Recovery Relationship Manager

Job Description

At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it’s our mission and our purpose.

The Senior Asset Recovery Relationship Manager (ARRM) will assume the responsibility for the collections/restructuring and relationship management of problem CRE and C&I loans with exposure up to or over $10,000,000 (Level I: up to $1 million; II: up to $5 million; III: up to $10 million; IV: over $10 million) within the real estate or commercial lending portfolio.

Job Responsibilities:

• Be responsible for analyzing cash flows, financial statements, and collateral to determine the most effective strategy to maximize collection amounts and timeliness.
• The ARRM is expected to recommend collection strategies to management and then execute that strategy. Maintain regular contact with borrower(s) and/or guarantor(s), recommend and implement legal action with the assistance of outside counsel, if necessary, upon default  (i.e. foreclosure, levies, attachments, bankruptcies and ensure proper collection procedures and techniques are followed and documented in accordance with local, state and federal laws and regulations.
• Maintain collection and account updates through Problem Loan Reports.
• Recommend non-accrual and charge off to loans being managed to management.
• Communicate often with CPAs, attorneys, and other leaders in the business community.
• Provide written reports to executive management on a monthly basis plus external communications on legal matters.

Minimum Qualifications:

• A bachelor’s degree in business administration, finance or equivalent is required.
• A minimum of 7 years' experience in a commercial workout or commercial banking environment is required, with an emphasis on commercial real estate workouts. Prior experience must include direct customer contact.
• Must possess a thorough understanding of the commercial lending industry and be capable of working on the most difficult assignments, rendering good business judgment and decisions with minimal supervision.
• Must have excellent working knowledge of all types of commercial loan documents and collateral assignments.
• Must have the knowledge and skill to handle most complex legal matters, foreclosures, bankruptcies, collateral liquidation and the servicing administration of State, Federal Government Loan programs.
• Must have a high aptitude for analyzing credit risk performance and recommend methods to improve results or minimize losses to the Bank.
• Must have extensive PC abilities, good working knowledge of Microsoft Office Suites, NCino and other Data Applications and Platform programs required in managing the daily tasks assigned.
• Excellent written and oral communication skills are required, as well as superior listening skills.
• Must have tact, persuasiveness and excellent negotiation skills.
• Some travel may be required.

Salary Range:

Individual base pay may vary on additional factors such as the candidate’s experience, job-related skills, relevant education, geographic location, and other specific business and organizational needs.

In addition to base salary, WSFS Financial Corporation (WSFS) and its subsidiaries may offer eligible Associates discretionary and formula-based incentive and retention awards. WSFS provides a competitive benefits package, which includes medical, dental, and vision coverage; a 401(k) plan; life, accident, and disability insurance; flexible spending accounts (FSAs) and health savings accounts (HSAs); and wellness programs. Additional benefits may include paid parental leave, military leave, vacation and other paid time off, sick leave in accordance with applicable state laws, and paid holidays. Benefit offerings are subject to eligibility requirements, legal limitations, and may vary based on an Associate’s location and employment status. For more information about Associate benefits, please visit https://www.wsfsbank.com/about/careers/

WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@wsfsbank.com.

WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.