Retail Workout Administrator

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 Retail Workout Administrator will work in conjunction with various groups to provide work product support for Investor Loan Servicing programs, Foreclosure, Bankruptcies filings, Legal / Loan & Deposit Loss Recovery assemblies, REO property preservation management and Consumer / Retail collection and loan recovery functions. The incumbent will support and be responsible in the constructing and maintaining various report assemblies, filing and copying, letter writing, insurance and other forms of claims as well as other loans servicing activities. The incumbent will review incoming bankruptcy filings, and research customer relationships to notify the appropriate Bank department. In addition, the incumbent will complete SOX testing and verification of reports for the Department and update processes as needed.

Job Responsibilities:

• Research customer relationships and notifies the appropriate Bank Departments; Collections, Asset Recovery or Trust. 
• Document collection notes in file and/or collection systems and uploads bankruptcy documents to the account. 
• Order loan documents, complete proof of claims and track pre & post-petition payments through bankruptcy plans. 
• Monitor Bankruptcy plans and informs management when borrower has become non-compliant under their plan. 
• Take required actions in notifying management and begins preparing for counsel the motion for relief, communicates directly with counsel on the case. 
•  Submit account coding to Loan Operations and verifies it is completed accurately to ensure the Bank is fully compliant according to regulator guidelines.
• Order and process Consumer Department property inspections.
• Review and assess completed inspection for any potential concerns or risk for loss on the Bank collateral or other real estate. 
• Documents accounts of required property inspections to include lawn maintenance, yard debris, vacancy, home repairs, manage utilities or any other servicer recommendations. 
• Coordinates with outside vendors to schedule maintenance, follow through until completed and process all invoices as applicable.  
• Work in conjunction with collection teams in the timely preparing and filing of a various State and Federal default notices applicable to all states the Bank services loans. 
•  Order Mortgage, Note and Title Search to ensure all parties are correctly identified. 
• Responsible for submitting updates to Loan Operations for reinstatement date and amounts, and bankruptcy coding and loan statement messages according to regulator guidelines. 
• Prepares loan for foreclosure assignment.  Assembles all loan documents, demand notices, valuations and worksheets, preparing working file in coordinating actions with Bank counsel, timely initiating affirmative actions and minimizing Bank losses.  
• Work in conjunction with Collection Team in the preparation and delivery of various letters & forms to include but not limited to; loan modification worksheet & disclosures, loan extensions, due date changes and line restraints.  For all deceased borrowers, investigate deceased notices, complete deceased claim forms and file with the estate.  Works with Estate Attorney and or Estate Representative in the handling of, and the collection of the account. 
• Respond in writing to customer inquiries and upload all information to the electronic collection platform and/or maintains written correspondence in the loan file. 
• Order all BPO, Title Search and Credit Bureau Reports, analyzes and updates the findings from these reports and uploads to the bank electronic collection systems or loan files. 
• Assure all pertinent materials and documents are copied/scanned to the customer files or electronic collection filing system.
• Assure collection of payments, recoveries, pay by phone transactions, commercial loan advances, internal transfers, wire transfers, stop payments, payoff requests and refunds are processed timely to the customers’ accounts. 
• Assure all "special handling" deposit/loan accounts, preparing appropriate e-mails and letter communications directly with customers are complete and timely sent. This includes responding to daily collection and overdrafts calls both internal and external to/from customers.   
• Prepare various collection reports during the month for management review and concurrence and disseminates to the various Bank groups.  This will include; delinquency, non-performing loans, Investor, bankruptcy, foreclosure and charge off reports. 
• Extract BIC and acquire reports to complete these tasks. 
• Reconcile all ledgers for management review and submit verification to the Controllers Department. 
• Assist with managing the TDR process to include scanning information to Department drives, reconciling monthly exception report and maintain required documents for Audit.
• Reviews and submits for approval all related collection invoices.  Uses appropriate ledgers for expenses and monitors against Department budget.
• Performs all other duties as assigned by Asset Recovery Management and Consumer / Retail Collections. 
• Submit assigned loans for NPL coding and charge off to Loan Operations.  Verify loans submitted were completed and pull reports to reconcile. 

Minimum Qualifications:

• College degree preferred. 
• A minimum 3+ years Retail & Consumer Banking experience or equivalent combination of education and work experience. 
• Must have experience working in a fast-paced sales or collection environment supporting a seasoned commercial and consumer/retail collection team with a proven track record of success, as well as knowledgeable and understanding for the specific product lines offered by the Bank.
• Must have thorough knowledge of all Retail & Consumer products, familiar with appropriate banking compliance laws and regulations and understanding of loan documentation and collection systems.  
• Must have experience with deficiency judgments, legal process, bankruptcy processing and working closely with outside vendors. 
• Must have familiarity with the appropriate banking laws and compliance regulations.
• Must be familiar with collection systems and possess strong PC skills working in the Microsoft suites.
• Must have excellent oral and written communication skills. 
• Must have strong problem-solving skills, good negotiation skills, and the ability to redirect troubled calls back to the situation at hand
• Must be proficient in using Microsoft Office Products.
• Must have a basic knowledge of accounting such as that obtained through high school bookkeeping or CFT-type course work or equivalent experience. 
• Must be familiar with the foreclosure process and pursuing all legal remedies according to the covenants of the Note/Mortgage.
• Must understand bankruptcy process; confirming customer banking relationships and assist with preparing proof of claims

Salary Range:

$47,235.00 - $77,601.75

Individual base pay may vary on additional factors such as the candidate’s experience, job-related skills, relevant education, geographic location, and other specific business and organizational needs.

In addition to base salary, WSFS Financial Corporation (WSFS) and its subsidiaries may offer eligible Associates discretionary and formula-based incentive and retention awards. WSFS provides a competitive benefits package, which includes medical, dental, and vision coverage; a 401(k) plan; life, accident, and disability insurance; flexible spending accounts (FSAs) and health savings accounts (HSAs); and wellness programs. Additional benefits may include paid parental leave, military leave, vacation and other paid time off, sick leave in accordance with applicable state laws, and paid holidays. Benefit offerings are subject to eligibility requirements, legal limitations, and may vary based on an Associate’s location and employment status. For more information about Associate benefits, please visit https://www.wsfsbank.com/about/careers/

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.