## EXHIBIT 31

# CERTIFICATION PURSUANT TO

SECTION 302 OF THE

SARBANES-OXLEY ACT OF 2002

I, Stephen P. Glennon, certify that:

|1. | I have reviewed this annual report on Form 10-K of Wilshire Financial Services Group Inc.;
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|2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to
state a material fact necessary to make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by this report;
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|3. | Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations and cash flows of the
registrant as of, and for, the periods presented in this report;
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|4. | I am responsible for establishing and maintaining disclosure controls and procedures (as defined in
Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:
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| | a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under my supervision, to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to me by others within those entities, particularly during
the period in which this report is being prepared;
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| | b) | Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report my conclusions about the effectiveness of the disclosure controls and procedures, as of the end of
the period covered by this report based on such evaluation; and
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| | c) | Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the registrant's fourth fiscal quarter that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over financial reporting; and
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|5. | I have disclosed, based on my most recent evaluation of internal control over financial reporting, to the
registrant's auditors and the audit committee of registrant's board of directors (or persons performing the
equivalent functions):
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| | a) | All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record,
process, summarize and report financial information; and
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| | b) | Any fraud, whether or not material, that involves management or other employees who have a significant
role in the registrant's internal control over financial reporting.
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|Date: April 14, 2004 | /s/   STEPHEN P. GLENNON   
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|                     | Stephen P. Glennon         
|                     | Chief Executive Officer and
|                     | Chief Financial Officer    

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