Our client has a thirty year track record of providing working capital solutions to growing companies needing to leverage its receivables or inventory. They are one of the first bank-owned commercial finance companies in the Southwest and has grown to be a leader nationwide. They provide factoring as well as asset based lending products to small and medium size businesses. The parent is a privately owned bank with $600MM in assets. Current leadership team for the division has over 100 years of industry experience. 

Due to its succession planning strategy, our client is looking for its next executive to lead the business. Position summary includes: Establish and implement a strategy to grow the factoring and asset-based lending portfolio in alignment with the bank’s strategic plans. Manage factoring, asset-based lending, and banking relationships, with the assistance of lending officers, on a profitable basis and in compliance with the bank's lending/factoring policies, procedures and applicable laws and regulations.

• Annually formulate goals and projections of performance for the company.

• Create, maintain, and communicate a company culture where all staff can succeed in their job performance and align with the goals of the organization.

• Oversee the Business Development team to drive production and meet annual goals.

• Supervisory responsibility of officers in team as well as their assigned accounts.

• Oversee the entire factoring and asset-based lending portfolio, including loan participations and re-discount lines.  This includes reviewing and approving requests for increases in client debtor credit limits, pricing amendments, and evaluating individual client portfolio performance.

• Identify and recommend selective portfolio acquisition opportunities.

• Oversee the portfolio of commercial banking relationships managed by team.  This includes the servicing of commercial bank lines of credit as well as commercial term loans, when applicable.

• Periodically consider new products and services to meet the demands of the markets

• Maintain effective credit policies and procedures for the risk associated with all products an instill a strong credit culture within all the departments.

• Ensure that subordinates perform on a timely basis all required periodic factoring/asset-based lending/term-loan checkoffs to ensure compliance to covenants and borrowing conditions.

• Ensure that all relationships under supervision are proactively managed to avoid the occurrence of documentary, financial, and funding exceptions.

• Provide information to marketing personnel, operations personnel, and senior management on credit policy, regulatory changes, and credit worthiness of assigned clients.  Maintain and enhance this knowledge base by carefully following industry articles, regulatory bulletins and periodicals, and attending industry conventions and meetings.

• Immediately bring any potential or actual events of defaults to banks senior management attention.

• Initiate adverse classification of borrowing and factoring relationships and oversee the preparation of classification reports and watch list memos assuring compliance with credit policy procedures.

• Manage the portfolio’s reserve for credit losses in collaboration with the bank’s Chief Credit Officer.

• Oversee the preparation of Criticized Asset Reports (CARs) on a timely basis and accurate manner.

• Manage the collections efforts, including litigation support, for problem loans and charge-offs.

• Adopt an anticipatory approach to marketing opportunities, risk recognition and management vis-vis assigned client base.

• Attend regularly scheduled marketing meetings to stay informed of new developments and pipeline activity and  provide guidance to the initiatives undertaken by the business development team.

Products include: Asset based Lending, Factoring, Traditional Lending and Purchase Order Financing

Industries: Manufacturers, Distributors, Service, Transportation, Staffing and Energy.

Must Haves for success in the role

• Credit underpinning

• Leadership experience in ABL and or factoring

• Knowledge of diverse secured lending products

• Cultural fit

• Leadership ability: attractor of people

• Ten plus years of leadership experience

• Flexible style: experience in setting and executive of strategy

• Willingness to move to relocate to Texas

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