Asset Recovery Relationship Manager
4 weeks ago
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 Asset Recovery Relationship Manager will assume the responsibility for the collections/restructuring and relationship management of problem CRE and C&I loans with exposure up to $10,000,000 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 5 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
Equivalent job experience may be considered
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
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
At WSFS Bank we empower our Associates to forge the careers of their dreams, we guide our Customers to secure their financial futures, and we actively support our Communities so they can fully thrive
We know that when we work together and move forward with purpose a brighter path to the future lies ahead for our Associates, our Customers, and the Communities we serve
WSFS Financial Corporation (WSFS) is a multibillion-dollar financial services company
Its primary subsidiary, WSFS Bank, is the oldest and largest locally-headquartered bank and trust company in the Greater Philadelphia and Delaware region
As of March 31, 2023, WSFS Financial Corporation had $20.3 billion in assets on its balance sheet and $65.6 billion in assets under management and administration
WSFS operates from 119 offices, 92 of which are banking offices, located in Pennsylvania (61), Delaware (39), New Jersey (17), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management
Other subsidiaries or divisions include Arrow Land Transfer, Bryn Mawr Capital Management, LLC, Bryn Mawr Trust®, The Bryn Mawr Trust Company of Delaware, Cash Connect®, NewLane Finance®, Powdermill® Financial Solutions, WSFS Institutional Services®, WSFS Mortgage®, and WSFS Wealth® Investments
Serving the Greater Delaware Valley since 1832, WSFS Bank is one of the ten oldest banks in the United States continuously operating under the same name.
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