Asset Recovery Supervisor


Provident Bank, a multi-billion dollar NJ bank, with branches in NJ and eastern PA, has an opportunity for an experienced Asset Recovery Supervisor to support our team based in Iselin, NJ.  To be considered candidates must have at least seven (7) years of experience managing residential loans in foreclosure/bankruptcy, recvoery of charged off loans as well as Bank Owned Properties.


We offer a competeitve compensation package that includes; medical/dental/life insurances, 401(k) with match, Employee Stock Ownership Plan, various tuition programs, student loan paydown program and generous paid time off.



Under general direction, this position is responsible for assisting the Asset Recovery/Loss Mitigation Manager with managing and directing department workflow, resolving complex customer concerns and managing/ developing staff personnel.



       Manages the daily workflow ensuring that department adheres to all regulatory requirements, Bank procedures as well as operational procedures.


  •        Directly supervises the Foreclosure, Recovery and OREO Specialists and oversees all activities in each area as well as the collection and disposition process of marine vessels and automobiles. Resolves insurance rebates and claims for FHA,PMI, as well as expense reimbursements on serviced loans.                                                 75%
  •      Approves extension of terms and credit of past due consumer loans in accordance with Bank Policy.                                                                                                    5%
  •       Approves delinquent Real Estate loans for legal action in accordance with Bank Policy.                                                                                                                         5%      
  •       Prepares charge off recommendations for senior management’s approval as well as other departmental reports.                                                                                10%
  •       Performs other related duties as assigned.                                                                                                                                                                                                5%


Directly supervises a team of Foreclosure Specialist(s), Recovery Specialist(s), OREO Specialist(s) and Administrative staff.  Carries out supervisory responsibilities in accordance with Bank's policies.  This includes training and managing employees; planning, assigning and directing work; appraising performance; rewarding and disciplining employees; and addressing and resolving employee complaints and concerns.



  •        Competent managerial skills as well as the ability to exercise independent and good judgment and resourcefulness in resolving employee questions or problems.
  •        Extensive knowledge of consumer and commercial collections, bankruptcy and foreclosure legal procedures as well as the management of bank owned properties.
  •        Extensive knowledge of recovery and real estate lending procedures.
  •        Ability to accurately apply generally accepted accounting principles.
  •        Considerable knowledge of and the ability to practically apply modern office practices and procedures related to accounting, including spreadsheet programs for personal computers.
  •        Ability to communicate effectively verbally and in the written form.
  •       Ability to prioritize multiple projects and complete them on time.
  •        Ability to train and supervise personnel.
  •        Ability to establish and maintain effective working relationships with Senior management, management team, employees and vendors.
  •        Ability to define problems, collect data, establish facts and draw valid conclusions.
  •        Must be able to shift attention quickly and accurately from one matter to another.


       Bachelor’s Degree in Business Administration preferred.


       7 to 10 years experience managing residential loans in foreclosure/bankruptcy, recovery of charged off  loans as well as Bank Owned Properties.


        Licenses and Certifications                                                              Expiration Date



Work is mainly performed in a normal office environment.  Noise levels are usually moderate.  Also involves travel to customers and property locations.


The hazards are mainly those present in a normal office setting, and those present in commuting by car. 

Occasionally may be exposed to those conditions present in public forums and meeting places.

This job description may not be all-inclusive.  Employees are expected to perform other duties as assigned and directed by management.  Job descriptions and duties may be modified when deemed appropriate by management.


We are an equal opportunity employer and all qualified applicants will receive consideration for employment without regard to age 40 and over, color, disability, gender identity, genetic information, military or veteran status, national origin, race, religion, sex, sexual orientation or any other applicable status protected by state or local law.



About Provident Bank

For more than 175 years, Provident Bank has served individuals, families, and businesses in our local communities with personal and business banking services.

Volunteering is a Way of Life

Our brand promise - “Commitment you can count on” - supports the investments we make in the community and donations made by our employees. It’s a promise also reflected in the volunteerism of our employees, who lend time and talent and countless hours to assist hundreds of organizations and thousands of people and animals each year.

Why do we love it?

  1. We get to volunteer in areas that are meaningful to the bank and impactful in the community.
  2. Through generous contributions, we have raised over $28,000 in 2018. No item or donation is too small; we find a home for it all.

Nearest Major Market: New Jersey