Loan Workout/Special Assets Officer - C&I
Wsfs Financial

Job Info

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The Special Assets 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 the most effective strategy to maximize collection amount and timeliness. The incumbent will perform an extensive analysis of business and loan risks and apply proper relationship management to collect all balances and/or rehabilitate the relationship. The Special Assets Officer will maintain regular contact with borrowers and/or guarantors and motivate the client to perform on the credit contract. The incumbent 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 the legal process is initiated in a timely manner and will perform required actions in accordance with instructions.

The Sp[e will review loan documentation and determine the perfection of the lien and whether 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 and maintain delinquency and loss performance ratios consistent or better than those for similar loan portfolios based on established benchmarks in internal, regional, and national comparison surveys. The Loan Workout Relationship Manager will initiate timely recovery actions against charge-off loans and establish repayment programs and negotiate settlements or legal actions to recover Bank losses.

This is a full-time position, located in Philadelphia, PA or Wilmington, DE.

Minimum Qualifications:

• Must have a Bachelors’ Degree in Business Administration or Finance or equivalent work experience.
• Must have at least 7-9 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.
  

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.

How do you get to be nearly 200 years old in a world that's constantly changing? For us, the answer has always been the same: create a team of Associates who are passionate about serving the community, and success will follow. Our Mission and Values serve as essential reminders about who we are and how we do business. 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.

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