Michael Paul Reed joined WSFS Bank, the primary subsidiary of WSFS Financial Corp., as executive vice president, chief risk officer, WSFS announced April 29.
Reporting to WSFS’ CEO, President and Chairman Rodger Levenson, Reed will lead all risk management functions including credit risk management, enterprise risk management, real estate services, asset recovery, legal, internal audit, loan review and regulatory compliance. Paul S. Greenplate will assume a newly created role, executive vice president, enterprise risk management. In this role, Greenplate will build on the ERM foundation and will concentrate on the depth and breadth of the enterprise risk program.
“Michael’s 20-year relationship with WSFS and his transparent, collaborative working style make him an ideal cultural fit,” said Levenson. “His strategic thinking, ability to balance measured risk with risk management and deep knowledge of regulatory and compliance frameworks make him uniquely suited for this role.”
“WSFS is growing and expanding and that brings increased complexity, responsibility and regulatory requirements,” Levenson continued. “Paul’s 20-year tenure with WSFS, his executive leadership and recent experience as CRO will serve us well as we intensify and reinforce our ERM efforts across the organization. Paul is the natural executive leader for this important, strategic undertaking.”
Reed joins WSFS with more than 23 years experience providing legal and strategic advice. Most recently, he served as a partner in the financial services and corporate groups at Covington & Burling LLP, a global law firm with a significant presence in financial services.
“I am very excited to join the WSFS team and to work with WSFS Associates throughout the company,” said Reed. “For more than 20 years, I have enjoyed working with WSFS and have come to admire the collaborative culture throughout the company. Given the growth the bank has experienced the past several years, WSFS is well-positioned going forward for significant and strategic growth in the rapidly changing landscape of the financial services industry.”
Reed holds a Masters of Law degree in banking and securities from Boston University, a law degree from the University of Western Ontario and an undergraduate degree from Wilfrid Laurier University.
For more, visit wsfsbank.com.