## EXHIBIT 31

# CERTIFICATIONS
PURSUANT TO
SECTION 302 OF THE
SARBANES-OXLEY ACT OF 2002

I, Stephen P. Glennon, certify that:

|1. | I have reviewed this quarterly report on Form 10-Q 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. | The registrants other certifying officers and I are 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 our supervision, to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us 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 our conclusions about the effectiveness of the disclosure contols 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 and change in the registrant's internal control
over financial reporting that occurred during the registrant's most recent 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. | The registrant's other certifying officers and I have disclosed, based on our 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: November 14, 2003 | /s/   STEPHEN P. GLENNON   
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|                        | Stephen P. Glennon         
|                        | Chief Executive Officer and
|                        | Chief Financial Officer    

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