CRE Workout Officer
Wsfs Financial

Philadelphia, Pennsylvania

Posted in Banking
29 days ago


Job Info




WSFS Bank is currently seeking a CRE Workout Officer. The CRE Workout Officer will assume the responsibility for the collections/restructuring and relationship management of problem Commercial and Real Estate clients with exposures up to $10,000,000 within the commercial or real estate 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. The CRE Workout Officer will perform extensive analysis on business and loan risks and apply proper relationship management to either collect all balances and/or rehabilitate relationship. The incumbent will maintain regular contact with borrowers and/or guarantor and motivate the client to perform on credit contract. The CRE Workout Officer will recommend and implement legal action, if necessary, upon default (i.e. foreclosure, levies, attachments, bankruptcies), while ensuring proper collection procedures and techniques are followed and documented in accordance with local, state and federal laws and regulations. The incumbent will act as a liaison between the Bank and counsel to ensure legal process is initiated in a timely manner and will perform required actions in accordance to instructions.

The CRE Workout Officer will review loan documentation or determine perfection of lien and claims against borrowers and guarantors are valid. This role will ensure collateral is properly insured, free of delinquent taxes and preserved from hazards or damage. The incumbent will maintain updated collection reports and account communication records on classified loans, as well as maintain delinquency and loss performance ratios consistent or better than those for similar loan portfolios based on established benchmarks internal, regional and national comparison surveys. The CRE Workout Officer will initiate timely recovery actions against charge-off loans and will establish repayment programs, negotiate settlements or legal actions in an effort to recover Bank losses.

This is a full-time, 40 hours per week, Monday - Friday, 8:00 am - 5:00 PM position located in Wilmington, DE or Philadelphia, PA.

Minimum Qualifications:

• Must have a Bachelors’ Degree in Business Administration or Finance or equivalent work experience.
• Must have at least 10+ years’ experience in a commercial workout or commercial banking environment. Prior experience must include direct customer contact.
• Must possess a understanding of the commercial lending industry and be capable of working the most difficult assignments, rendering good business judgment and decisions with minimal supervision.
• Completion of formal commercial credit training or equivalent is required.
• Excellent working knowledge of all types of commercial loan documents and collateral assignments is required.
• Must possess the knowledge and skill to handle most complex legal matters, foreclosures, bankruptcies, collateral liquidation and the servicing administration of state and federal government loan programs.
• High aptitude to analyze credit risk performance and recommend methods to improve results of minimize losses is required.
• Should be capable of handling and resolving the most complex of loan problems.
• Must be self-motivated and very organized.
• Must have extensive PC abilities and good working knowledge of Microsoft Office.
• Excellent communication, both written and oral, and listening skills are required.
• Required to make day to day operational decisions, workout strategies and recovery-resolutions planning with minimal supervision
• Must have reliable transportation and a valid drivers’ license.
• Must be able to work evenings/overtime and/or overnight travel as needed.
• Must have ability to work in the field performing customer contact, collateral inspections/evaluations.

Physical Requirements: The physical demands described below must be met by an Associate to successfully perform the essential functions of this job.
• Incumbent will be required to stand for extended periods of time.
• Incumbent may be required to sit for prolonged periods of time.
• May be required to wear face coverings during business hours.
• Dexterity is mandatory as this job requires frequent use of hands and fingers.
• The incumbent will be required to walk, reach with hands and arms, push items overhead, occasionally climb or balance, stoop, kneel, crouch or crawl.
• The incumbent will also be required to talk, hear, see, read and write.
• This position requires regular lifting and moving of 10-25 lbs.
• Specific vision abilities required by this job include close vision, distance vision, depth perception and ability to adjust focus.

Cognitive Requirements: The cognitive demands described below must be met by an Associate to successfully perform the essential functions of the job.
• This position requires adaptability, assessing, analyzing, calculating, dependability, memorizing, good judgment, stress control, prioritization, social skills and speaking.
• This position requires comprehension, organization, reasoning and decision-making, communication and mathematical ability.
• Incumbent must possess the capability to understand, remember, and apply oral and/or written instructions or other information, organize thoughts and ideas into understandable terminology, prioritization of own work schedule, apply common sense in performing job duties and making decisions which have impact on immediate work unit.
• Incumbent must be able to understand and follow basic instructions and guidelines, complete routine paperwork, use existing form letter and/or conduct routine oral communication, communicate with individuals using a telephone, hear and speak effectively on the telephone, express or exchange ideas by means of spoken word, communicate orally with others accurately and quickly, at an audible level that others can hear.
• Incumbent must also have the ability to count accurately and the ability to add, subtract, multiply, divide and record, balance and check results for accuracy.

WSFS Bank is an Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation/ Drug-Free Workplace



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