Senior Asset Recovery Relationship Manager

Senior Asset Recovery Relationship Manager

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.