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 Asset Recovery Relationship Manager will be responsible for the collection, restructuring, and relationship management of problem commercial and real estate clients with exposures ranging from under $1 million up to $10 million within the commercial, real estate, or small business lending portfolio.  The incumbent will evaluate cash flow, financial position, guarantor support, and collateral position to determine most effective strategy to maximize collection amount and timeliness.

Job Responsibilities:

• Performs extensive analysis on business and loan risks and applies proper relationship management to either collect all amounts due and/or rehabilitate relationship. 
• Recommends collection strategy and executes on same.  
• Maintains regular contact with borrower(s) and/or guarantor and motivates client to perform under their loan obligations and covenants. 
• Develops comprehensive workout program and timely initiates appropriate actions to minimize or eliminate potential loan loss to the Bank.
• Recommends and implements legal action, if necessary, upon default  (I.e. foreclosure, levies, attachments, bankruptcies). 
• Ensures proper collection procedures & techniques are followed and documented in accordance with local, state and federal laws and regulations.
• Acts as liaison between Bank and counsel to ensure legal process is timely initiated and performs required actions in accordance to instructions. 
• Oversees counsel to assure proper and timely actions are processed in mitigating bank losses throughout the process of the case.
• Reviews loan documentation to determine perfection of lien and claims against borrowers and guarantors are valid. 
• Assures collateral is properly insured, free of delinquent taxes and preserved from hazards or damage. 
• Initiates forced insurance coverage, payment of taxes and coordinates the hiring of contractors to secure and preserve collateral.
• Maintains current Collection reporting's and account communication records on classified loans through updating Problem Loan Reports, Ncino and Carp Projection reporting platforms.
• Ensures assignments are updated and completed at all times .
• Recommends changes to assign R/R , LGD ratios, NPL considerations and Loan Loss Recommendations. 
• Maintains delinquency and loss performance ratios on assigned workout portfolios and overall problem credits to Bank established Targets and Goals.  
• Initiates timely recovery actions against charge-off loans. 
• Establishes repayment programs, negotiates settlements or legal actions to recover Bank losses.
• Provides written reports to executive management on monthly basis plus external communicates on legal matters.
• Other duties as assigned.

Minimum Qualifications:

• A Bachelor's Degree in Business Administration or Finance or equivalent is required. 
• A minimum of 3 years' experience in a commercial workout or commercial banking environment and/or equivalent experience in commercial loan underwriting and collections.
• Prior experience working with SBA/small business loans is required.
• Prior experience must include direct customer contact. Equivalent job experience may be considered.
• Must possess a thorough understanding of the Commercial lending industry and capable of working the most difficult assignments, rendering good business judgement and decisions with minimal supervision. 
• Must have completion of formal Commercial credit training or equivalent.
• Must have excellent working knowledge of all types of commercial loan documents and collateral assignments. 
• Must have 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 to analyze 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 and other Data Applications and Platform programs required in managing the daily tasks assigned.  
• Must have excellent written and oral communication skills, as well as superior listening skills. 
• Must have tact, persuasiveness, and excellent negotiation skills. 
• Must have the ability to work in the field performing customer contact, collateral inspections, and evaluations.
• The ability to travel within the WSFS footprint is 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

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.